Business
PRESSR: GFH Partners acquires majority stake in Devmark
PRESSR: GFH Partners acquires majority stake in Devmark
About this update from Gfh Bank B.s.c.
Dubai, UAE – GFH Partners Ltd. (“GFH Partners”), a Dubai International Financial Center (“DIFC”) headquartered investment manager and the global real estate investment arm of GFH Financial Group, has acquired a majority stake in Devmark Real Estate Brokers L.L.C (“Devmark”), the UAE’s leading real estate development project sales and marketing platform.Founded in 2018, Devmark has led the sales effort for more than 30 projects with a combined gross development value exceeding AED 10 billion and a sales distribution network spanning over 2,000 brokerage firms and over 15,000 brokers. Devmark is the UAE’s leading development sales & marketing consultancy playing a pivotal role in helping residential developers drive sales performance through a comprehensive 360° approach from project positioning, marketing, through to sales execution.Devmark’s founders, Sean McCauley and Richard Aybar, will continue to lead and manage the business. Together with GFH Partners, they will pursue growth across the UAE and GCC, while introducing institutional capital solutions for developers and new forms of product differentiation in the residential development market.The UAE residential market has become a focal point of attraction to regional and international investors alike as total real estate transaction volumes exceed AED550 billion year-to-date, and a growing subsegment of branded residential offering where Devmark has proven capabilities. The strategic acquisition of Devmark marks GFH Partners’ second UAE real estate platform majority share acquisition, following its acquisition of the GFH Partners Manrre REIT (CEIC) PLC, and signals its entry into the GCC residential sales and marketing ecosystem, complementing its thematic exposure in the real estate sector where its platform currently has exceeded 33 assets and AED1.5 billion in asset value under management. This strategic partnership forms part of GFH Partners’ broader global platform partnership strategy, through which the firm invests alongside proven operators to create scalable, sector-focused platforms across key real-estate verticals.Nael Mustafa, Chief Executive Officer of GFH Partners, commented: “The acquisition of Devmark represents an extension of our platform partnership strategy, investing alongside exceptional management teams to build enduring, sector-specific platforms. Devmark’s market leadership a...