Abu Dhabi: Yas Holding announces strategic investment in Peninsula Real Estate to support its development – News

Peninsula has been part of Abu Dhabi Investment Office’s innovation program since 2021

Peninsula Real Estate is incorporated in Abu Dhabi Global Market. – KT file

Yas Holding LLC on Thursday announced a strategic investment in Peninsula Real Estate, a real estate investment company incorporated in Abu Dhabi Global Market. Since 2021, Peninsula has been part of Abu Dhabi Investment Office’s Innovation Programme, which supports the company in expanding its investment and research capabilities from its headquarters in the UAE capital.

Peninsula is an internally managed real estate investment company focusing on the office, industrial and logistics sectors. Peninsula seeks to capitalize on the booming commercial real estate markets in Abu Dhabi as well as the UAE and the GCC.

Ping Low, Group CEO of Yas Holding, said: “Our investment in the peninsula is an important addition to our portfolio as Yas Holding looks to capitalize on the strategic opportunities in the region. Backed by confidence in the country’s economy, the UAE has witnessed a long-term “The surge in investment is expected to continue to grow the country’s economy. Our shared values ​​and aspirations lead us to believe that Peninsula will be a first-class partner in realizing our vision, and we will continue to support them for the long term.”

Asad Hussaini, Peninsula board member, said: “With a clearly defined strategy and a disciplined approach to the GCC core market, Peninsula is poised to deliver growth and value creation to our partners. We are honored to have the support of Yas Holding and we will leverage on This opportunity furthers our growth plans for a portfolio that is underpinned by compelling financials and attractive yields.

James Gallon, Peninsula Executive Director and Chief Executive Officer, said: “This partnership is an endorsement of Peninsula’s mission to be the clear choice for investors seeking total shareholder return through sustainable dividends and the growth of commercial real estate in the region. Yas Holding is an ideal long-term partner to complement Peninsula’s mission to invest in prime commercial real estate in the GCC.

The UAE has maintained its status as a world-class real estate market and investment destination, reporting some of the highest economic growth rates in the world. The UAE’s non-oil economy is expected to grow by 4.2% in 2023 and 4.6% in 2024, according to forecasts published by the Central Bank of the UAE in its Q4 2022 Economic Review on March 27, 2023.

Strengthening this growth story are several major government initiatives aimed at maintaining current growth rates while further diversifying the economy. The government-led Abu Dhabi Industrial Strategy aims to double the size of Abu Dhabi’s manufacturing sector to AED172 billion by 2031 and increase Abu Dhabi’s non-oil exports by 143%.