CBRE Investors has opened its first Middle East office in Dubai and has installed a managing director to lead its effort in the region, the firm announced today.
The firm said it was driven to open the office by what it perceived as a demand from regional institutional investors for income-producing assets and portfolio restructuring expertise.
The new office will be led by managing director Fadi Al Khatib who predicted an increase in allocations to real estate by domestic investors.
He said: “Given the re-pricing of global real estate assets over the past two years and the international investment opportunities available to well-capitalised investors, we believe institutions in the region will aggressively grow their real estate portfolio allocations over the next few years.”
CBRE Investors, which currently manages $33.7 billion of assets globally, already has exposure to Middle East investors. The firm has existing “mandates” with two regional sovereign wealth funds and said it was in further dialogue with other investors for further investment briefs.