Peninsula Real Estate Announces Strategic Investment by Fortinbras Enterprises

June 23, 2023

Peninsula PLC today announced a new strategic investment by Fortinbras Enterprises, via its affiliate fund, to support the company’s growth and deepen its impact on the commercial real estate market in Abu Dhabi, the UAE, and GCC.

Peninsula Real Estate, founded in 2019 in Abu Dhabi and incorporated in the Abu Dhabi Global Market, is an internally managed real estate investment company focused on the office, industrial and logistics sectors. Peninsula seeks to capitalize of the burgeoning commercial real estate market in Abu Dhabi and across the UAE and GCC.

Fortinbras Enterprises, a New York-based investment fund founded in 2021, focuses on credit and equity investments across capital structures. The fund is known for its meticulous approach to origination, valuation, and execution.

The investment will support Peninsula’s continued growth across the real estate market in the UAE and GCC, specifically the acquisition, development, and management of office, industrial, and logistics properties.

 

 

Asad Hussaini, Executive Vice Chairman Peninsula Real Estate, said, “The UAE is experiencing enormous growth, driving high and sustained demand for commercial real estate. Peninsula is closely aligned with Fortinbras in our shared focus on leveraging this growth to create significant returns for partners, and our shared commitment to achieving this value through excellence, dedication, and integrity. We are honored to receive Fortinbras’ support and their commitment to Peninsula’s success.”

James Gallon, Chief Executive Officer Peninsula Real Estate, said, “Peninsula set out to build a platform that provides global investors with strong risk adjusted returns via high quality commercial real estate across the UAE and GCC. The investment from Fortinbras is an endorsement of the work that has been done to date, of the best practice governance standards we have implemented and also of our ambitious growth plans as we seek to expand our portfolio and diversify our investor base.

Ben Black, Managing Director of Fortinbras Enterprises, said, “We are focused on the GCC, particularly the UAE. The UAE’s growth reflects thoughtful policies and effective leadership that have made it an attractive and strategic destination for long term investment. We believe very strongly in Peninsula’s management team, and I’m confident our work with this best-in-class partner will yield strong returns and deepen our footprint in the UAE and across the region.”

 

 

The UAE’s strong and sustained economic growth has resulted in significant opportunities for commercial real estate investment. According to Savills Research’s recently released UAE Property Report (March 2023), office rental values increased, on average YOY, by 7% across the key office districts of Abu Dhabi and 15% in Dubai and Industrial and Logistics rental values increased, on average YOY, by almost 17% across KIZAD, and 10% across ICAD 1 and 2, two major industrial zones in Abu Dhabi.

The UAE’s economy continues to grow strongly. The Central Bank of the UAE is currently forecasting GDP to grow by 3.9% in 2023 and 4.3% in 2024, making the country’s economy one of the bright spots globally. High growth reflects of supply-side and fiscal reforms of the last 10 years that have established the UAE as the leading destination in the region for foreign direct investment.

 

About Peninsula

Peninsula is an internally managed real estate investment company headquartered in the Abu Dhabi Global Market. Established in 2019, Peninsula has constructed a high quality and diversified real estate portfolio across the GCC. Peninsula is focused on delivering long-term total shareholder returns via sustainable dividends and growth, with best-in-class governance standards and reporting.

Peninsula has a deep in-market expertise supported by a rigorous governance framework and a robust disclosure strategy with GRESB and EPRA membership. Peninsula is focused on acquiring high quality institutional real estate across the GCC and building a diversified portfolio of high quality commercial real estate assets. Peninsula’s growth strategy is anchored in long-term leases that provide high income visibility in conjunction with shorter-term leases offering exposure to strong market fundamentals and value enhancement opportunities. For more information, visit Peninsula-reh.com.

About Fortinbras

Fortinbras Enterprises is a private investment fund headquartered in New York. Founded in 2021, Fortinbras finds opportunities no matter the market through credit and equity investments across capital structures to achieve high yield returns. Fortinbras investors benefit from the fund’s meticulous approach to origination, valuation, and execution; deep relationships across markets, industries, and geographies; proven excellence in asset management; and expertise in securities and tax law. For more information visit Fortinbras.com.

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