Matrix lines up $300m real estate fund for GCC

Dubai: Matrix Property Middle East, a joint venture between UK-based financial services firm Matrix and Qatari firm ME Alignment, will launch a $300-million (Dh1.1-billion) GCC real estate fund this year to tap investment opportunities in the region's property market, the company's general manager and investment director said Sunday.

The Matrix ME Alignment Fund, which will be headquartered in Qatar, will focus on investing in "high quality income generating projects predominantly in the industrial, residential and office sectors mainly in Saudi Arabia, Qatar and the United Arab Emirates", Will Hean told Zawya Dow Jones by telephone.

"We've seen that now is a good time to buy in this region," Hean said. "There are good opportunities over the next 12 months to acquire high-yielding income-producing assets at prices which will give good capital growth over the medium term."

Matrix will target investors from the Middle East, as well as from the UK and Europe, Hean said.

Registration process on

Matrix Property ME is in the process of registering the fund management company with the Qatar Financial Centre and hopes to launch its first fund shortly afterwards.

"It's difficult to say how long the process will take, but we hope that the fund will be launched in the third quarter," Hean said.

Matrix also plans to launch sector-specific funds focusing on logistics and budget hotels, Hean said.

"It's too early to say how large these funds will be, but ideally they'd be the same size as the property fund," he said.