Matrix Property Middle East LLP Launched to Capitalize on GCC Real Estate Opportunities

Matrix has also announced a joint venture agreement with ME Alignment, a successful Qatar-based real estate development and investment company owned by members of the Al Attiya Family, with a widespread network of high level contacts across the region.

Together, Matrix Property ME and ME Alignment will set up a Property Fund Management company in Qatar and are in the process of registering the new vehicle with the Qatar Financial Centre.

Matrix Property ME was formed following the acquisition by Matrix of a majority stake in the former Kenmore Middle East business, bought out by former board director Andrew White in December. It will be led by Andrew White together with Will Hean as General Manager and Investment Director, and will have operations in the UAE and Qatar.

Matrix Property ME will focus on the acquisition of high quality income generating projects predominantly in the industrial, residential and office sectors, as well as development projects, utilising the firm's in house property development capabilities. Regions of focus are the major growth markets of the GCC which offer unique investment opportunities: Qatar, Saudi Arabia and UAE.

Commenting on the announcement, Ian Blake, Partner of Matrix Property Fund Management LLP, said:

"We have been studying the GCC market for some time and believe we are now at the optimal point of the property cycle to start acquiring selectively across the GCC. We believe 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."

Mr. Abdulaziz Bin Mohammed Al Attiya, General Manager of ME Alignment, added:

"We are very pleased to be partnering with Matrix and are in detailed negotiations with the Qatar Finance Centre to achieve full approval status for what we expect to be the first property fund management company to be regulated by the QFC Regulatory Authority."

"The combination of the Matrix UK fund management track record with the reputation and network of the Al Attiya family, one of the region's most prominent political and business families is a very powerful one. Added to that is the track record of our existing team which has been on the ground acquiring and developing property in Qatar, Abu Dhabi and Dubai over the last 4 years."

Matrix Group is a privately owned financial services business founded in 1987 whose areas of expertise include Asset Management, Corporate Capital, Property and Specialised Finance. To date Matrix has raised around 8 billion pounds for its investment products and currently has circa 3 billion pounds of funds under management. Matrix's staff of around 220 are based in the West End of London at One Vine Street.

Matrix Property Fund Management LLP is the property division of Matrix Group Limited.