Singapore-based property development and management firm, Mapletree Investments Pte is expanding its global presence by opening an Abu Dhabi office.
It comes as high-net-worth-individuals (HNWI) take aim at the Abu Dhabi and RAK property markets.
Mapletree Investments, a unit of Singapore’s state-backed Temasek Holdings PTE, has reportedly re-hired Khairul Abdullah to lead this Middle East expansion, according to a report by Bloomberg.
“Over the past six months, we have seen the Abu Dhabi real estate market grow, stabilise and then grow again. Recent industry reports by the Abu Dhabi Real Estate Centre (ADREC) confirm that foreign direct investment is at an all-time high in the capital, cementing the emirate’s position as a strong contender among global property markets in the last 18-24 months.”
Haider Ali Khan, CEO of Bayut and CEO of Dubizzle Group MENA
In April, Mapletree Investments also announced its acquisition of 8,192 purpose-built student accommodation (PBSA) beds across 19 cities in the UK and Germany.
The newly acquired portfolio includes a range of student accommodation schemes that offer extensive amenities and convenient access to the local universities. The portfolio has been strategically located in key university cities in the UK such as Bristol, Cambridge, Durham, Edinburgh, Oxford and York, alongside Bremen in Germany.
The operating platform manages two brands – Student Castle and Capitol Students – and provides Mapletree with direct control of the acquired portfolio. In 2023, the operating platform achieved one of the most prestigious awards in the student housing sector.
Since entering the student housing market in 2016, Mapletree has grown its student housing portfolio to a total of 33,000 beds across 47 cities in the UK, the US, Germany and Canada, with total assets under management (AUM) of S$6.2bn. This expansion into Abu Dhabi marks further expansion for the company.
