ZT-TAKtical eyes property boom in UAE

Dubai: ZT-TAKtical, Inc, a Houston, Texas-based real estate investment advisory firm, has announced the closing of its first property fund, focussing on the UAE property market.

Labelled 'Dubai Affordable Housing Fund One, L.P.', the first fund has been mandated to look at the affordable housing sector within the UAE, and did its first round of closing in March 2007.

The amount of the fund was not disclosed as it has been financed by an exclusive group of high net worth investors in the United States.

The joint venture ZT-TAKtical LLC combines the ZT Group of Companies' stellar reputation and high net-worth clientele with TAKtical International's global real estate expertise.

Background

ZT-TAKtical was created to provide North American-based investors with opportunities to diversify and hedge their portfolios by investing in international real estate markets.

Tariq Khan, Managing Director of TAKtical International, stated: "We are very pleased with the strong amount of interest we have received for this fund. The reason to keep the size and number of participants so limited is due to our goal to show audited results on this fund and then use it as a platform to establish a larger fund that will not only have substantially more investment capital but also a larger investor base."

Taseer Badar, CEO of ZT Group of Companies, said, "When we entered into a partnership with TAKtical International to establish ZT-TAKtical, our goal was to become one of the first institutional real estate advisory firms in the United States focussing on the GCC and specifically on the UAE property market. With the help of this unique fund, we will be able to show our clients the opportunities that exist in the region as well as the potential for being profitable."