Dubai: Gulf Islamic Investments Group (GII) has completed the private sale of its Amity School complex in Dubai for approximately US$50 million, the company announced on Monday.
GII, a UAE-based global alternative investment company with over $4 billion of assets under management, managed the Amity School for six years. This latest exit achieved a return on investment of 66 per cent and follows the sale of an office complex in the Celtic Springs Business Park near Newport, South Wales (UK) earlier this year.
GII’s total investor distributions exceed $600 million, with an exit pipeline of $250 million.
GII’s divestment programme, with several more exits scheduled for Q4 2023, aims to fulfil its asset management objectives, said the company.
Mohammed Alhassan, Co-Founder and Co-CEO of GII, said, “This latest sale demonstrates GII’s focus on delivering the maximum returns for its investors through planned acquisitions and exits. Our team identifies and unlocks hidden value in companies and real estate, managing and repositioning assets to deliver an asset’s full potential”. GII’s current investment priorities are healthcare, technology, education, food production and processing, consumer services, logistics, and warehousing.
GII's portfolio includes the Noon Daily warehouse in Dubai, the Lewis Building in Birmingham's Central Business District, and the Amazon Fullfillment Centre in Dortmund, Germany.
Pankaj Gupta, Co-Founder and co-CEO of GII, said, “The exit from this asset further endorses GII’s asset management ability as per the business plan, despite a tough economic environment for real estate. It has been a great deal for our investors, further cemented our position in the alternative investment space”.