{"id":144513,"date":"2019-03-27T13:45:47","date_gmt":"2019-03-27T17:45:47","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=144513"},"modified":"2019-03-27T07:05:57","modified_gmt":"2019-03-27T11:05:57","slug":"manrre-reits-message-to-dubai-property-doubters-were-buying","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/03\/manrre-reits-message-to-dubai-property-doubters-were-buying\/","title":{"rendered":"Manrre REIT\u2019s message to Dubai property doubters, \u201cwe\u2019re buying\u201d"},"content":{"rendered":"
March 27, 2019<\/div>
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By George Prior<\/strong><\/p>\n

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The Palmon Group lead property fund – Manrre, has acquired AED 220m of Dubai commercial assets paying 8% annual dividends and open to smaller investors<\/em><\/p>\n<\/blockquote>\n

\u201cBe greedy when others are fearful and fearful when others are greedy.\u201d Wise words from legendary investor Warren Buffet, giving inspiration to Dalma Capital CEO Zachary Cefaratti in a contrarian strategy to back a Dubai commercial property fund and \u201cbuy the dip\u201d.<\/p>\n

\u201cDalma Capital\u2019s pedigree in hedge fund management leads us to often make contrarian investments. In cyclical asset classes like property, contrarian strategies are part of the playbook of astute investors including Ray Dalio and Warren Buffet.\u201d<\/p>\n

\n\u201cManrre investment opens an opportunity usually only available to large, institutional investors and UHNWs\u201d<\/p>\n

Property speculators might see reason to doubt the Dubai market. Many believe that a decade of high-speed development has left the gulf city with an oversupply of property, particularly at the high end of the market. And the Dirham’s peg to the Dollar and possible rising interest rates have some spooked.<\/p>\n

But concerns for speculators aren’t concerns for longer-term investors, Cefaratti makes clear.<\/p>

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\u201cThese concerns are well known in the market \u2013 and are already reflected in substantial price decreases in recent years. Manrre views this as an opportunity to \u2018buy the dip\u2019, taking advantage of depressed asset prices.\u201d<\/p>\n

It\u2019s a message confirmed by emerging markets investment guru Mark Mobius. Speaking at the Financial Times\u2019 Global Financial Forum, Mobius – a three-decade veteran of Franklin Templeton – reiterated that there was no need for concern about Dubai oversupply.<\/p>\n

\u201cIn any growth situation, you\u2019re going to get ups and downs.\u201d He said. \u201cThe important thing to remember is that in these cycles the peaks get higher and higher, because you\u2019re building a larger and larger base.\u201d<\/p>\n

The Manrre fund is currently AED220m, with a view to grow to AED550m<\/em><\/p>\n

Manrre REIT (Real Estate Investment Trust) is now actively targeting Dubai logistics and industrial property in robust sub-markets such as Jafza, National Industrial Park, Dubai South, Dubai Investment Park, strengthening their position as a logistics and industrial REIT.<\/p>\n

Crucially, Manrre opens opportunity to investors often squeezed out of such top tier strategies. Speaking on behalf of the family-owned Palmon Group, Kunal Lahori, Executive Director, emphasised the opportunity.<\/p>\n

\u201cOur family has been investing in Dubai commercial Property for over 30 years, we\u2019ve seen many cycles. Dubai remains a world-class, safe-haven investment destination. Indeed, the investment landscape is becoming ever-more secure. Its real estate routinely outperforms that in other global destinations and stable, income generating assets can provide a hedge against volatility in equity markets.\u201d<\/p>\n

Manrre REIT\u2019s core investment objectives include generating a regular source of income for investors, with quarterly dividends targeting an 8% annualized return.<\/em><\/p>\n

The collaboration between Dalma Capital, a renowned hedge fund manager in the Dubai International Financial Centre, and Palmon Group, one of the longest-standing conglomerates in Jafza, presents an unprecedented opportunity for smaller investors to own income-generating industrial assets across UAE.<\/p>\n

Manohar Lahori, Chairman at Palmon Group concludes: \u201cSavvy investors understand that the current market conditions are right to acquire assets and to prepare for when it inevitably picks up. \u00a0It is a time-honoured and successful strategy.\u201d<\/p>\n

About Dalma Capital<\/strong><\/p>\n

Dalma Capital is a global alternative investment fund accelerator and platform focused on alpha generating strategies with an inherent edge in emerging investment strategies and markets. Dalma\u2019s edge also extends to investment banking opportunities in innovative products including disruptive technologies, blockchain investments and Sukuk. Established in 2011 and headquartered in the Dubai International Finance Centre, Dalma Capital\u2019s goal is to identify the next generation of alpha generating \u2018edge\u2019 fund managers, strategies and opportunities.<\/em><\/p>\n

www.dalmacapital.com<\/a><\/p>\n

About Palmon Group<\/strong><\/p>\n

Palmon Group was born over 40 years ago when Manohar Lahori established his first business venture, a garment factory under the name of Palmon Exports in Mumbai, India. A decade later, in 1985 Palmon moved its operations to Dubai after a chance meeting with late Sheikh Rashid Bin Saeed Al Maktoum and so Palmon became one of the first companies to establish in UAE\u2019s first free zone – Jafza.<\/em><\/p>\n

Palmon Group made its name by shipping apparel to high-demand retailers in the US and Europe, including the likes of Walmart, Marks & Spencer and Gap. As a result of Manohar Lahori\u2019s vision, dedication and hard work, by 1992 the Palmon Group had increased its apparel production multifold to meet worldwide demand and operated 19 factories. In the 90s, the firm had 4,000 employees with sales offices in London, Manchester and New York.<\/em><\/p>\n

From its core business of clothes manufacturing, the Palmon Group branched out into a series of other sectors, including logistics, warehousing, facilities management and real estate. The group has extensive investments in property both in the UAE and overseas. In late 2018, Palmon Group formed Manrre REIT, a DIFC based property fund.<\/em><\/p>\n

www.palmongroup.com<\/a><\/p>\n

www.manrre.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior The Palmon Group lead property fund – Manrre, has acquired AED 220m of Dubai commercial assets paying 8% annual dividends and open to smaller investors \u201cBe greedy when others are fearful and fearful when others are greedy.\u201d Wise words from legendary investor Warren Buffet, giving inspiration to Dalma Capital CEO Zachary Cefaratti […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-144513","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=144513"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144513\/revisions"}],"predecessor-version":[{"id":144515,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144513\/revisions\/144515"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=144513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=144513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=144513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}