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In a landmark move that reflects both strategic foresight and confidence in the region’s industrial trajectory, Gaw Capital has officially entered the UAE’s logistics and industrial real estate market. Spearheaded through a joint venture with GFH Partners, this marks the firm’s first logistics footprint in the UAE—and a pivotal extension of its global logistics platform.
According to Mr. Harry Ip, Managing Director – Investments at Gaw Capital, the timing of the firm’s entrance into the UAE logistics sector is no coincidence.
“We are entering the market at a moment when demand is structurally outpacing supply, and policy tailwinds in the UAE are exceptionally strong,” he said.
Knight Frank’s Dubai and Abu Dhabi Industrial Review H1 2025 forecasts that only 780,000 sq ft of speculative stock will be delivered in 2025—well below anticipated demand. Although this gap may narrow by 2026, thanks to a growing pipeline of institutional-grade projects, the current shortage underscores strong long-term fundamentals.
Additionally, ambitious government-led initiatives such as the Dubai Industrial Strategy 2030 and the Dubai 2040 Urban Master Plan are accelerating industrial diversification, infrastructure growth, and investor-friendly policy reforms. These factors, along with population growth and a business-friendly environment, are sustaining demand for high-quality logistics facilities—factors that Gaw Capital views as strategically aligned with its global vision.
A Natural Evolution in a Global Strategy
This marks Gaw Capital’s first logistics footprint in the UAE and represents a seamless extension of its global logistics platform. The firm has built a strong presence across Asia-Pacific, including China, Japan, South Korea, Vietnam, and Australia, with a portfolio of 39 projects totaling approximately 3.8 million sqm GFA. As of Q3 2025, the firm’s global logistics AUM stands at over USD 3.4 billion.
“Our entry into the UAE logistics sector is a natural progression of our long-term thematic focus on high-growth, high-potential industrial markets. Gaw Capital’s success in China—where it has acquired, developed, and managed over 3 million sqm of GFA since 2014—has laid the foundation for its expansion into other APAC markets through strategic partnerships. The UAE joint venture with GFH Partners is a key enabler in this strategy, serving as a gateway for deploying Asian capital at scale into the UAE’s logistics landscape. This approach further diversifies the firm’s geographic exposure and strengthens its global logistics network,” Mr. Ip added.
Viewing the UAE in a Global Context
While Gaw Capital already holds significant positions in mature markets such as China, Japan, and South Korea, the UAE presents a distinctive opportunity.
“The UAE is a well‑structured emerging market offering first‑mover advantages, backed by a mature regulatory framework for foreign investors. With over 40 established free zones across Abu Dhabi and Dubai, the UAE has created an attractive ecosystem for multinational corporations and SMEs alike. The combination of strong infrastructure, world-class connectivity, and mega government-backed projects contributes to long-term demand fundamentals that rival some of the world’s most developed logistics hubs,” Mr. Ip noted.
Regional Expertise Through Strategic Partnerships
Gaw Capital’s partnership with GFH Partners and their affiliate Manrre Developments—an experienced UAE-based industrial player—brings critical local expertise to the table.
“The joint venture is focused on pre-identified develop-to-lease assets, which require an in-depth understanding of local regulations, cultural expectations, and development cycles. GFH Partners has managed over 260 assets across six markets, with a portfolio valued at USD 6.5 billion. Through Manrre, the partnership taps into two decades of experience in acquiring, planning, designing, and delivering stabilized industrial assets across the UAE, KSA, and the wider GCC region,” said Mr. Ip.
“This collaboration positions us as one of Asia’s leading forerunners in delivering prime industrial facilities in the UAE,” Mr. Ip emphasized.
Attracting Asian Capital into a High-Yield Market
The platform has already started to attract increasing levels of interest from institutional investors across Asia. There is notable appetite for institutional-grade, tech-enabled logistics assets, including cold storage and automated warehouse facilities, which are viewed as resilient and high-yield investments.
“The UAE’s geographic positioning as a trade bridge between Asia, Europe, and Africa—coupled with world-class hubs like Dubai South and Kizad—makes it a natural entry point for Asian capital seeking MEASA exposure,” said Mr. Ip.
Managing Risks in a Tight Market
Despite the strong fundamentals, Mr. Ip remains mindful of potential market risks.
“We may see normalization of rental growth in the future as supply catches up. Rising construction, land, and labor costs also pose operational risks, as does the potential for yield compression,” he cautioned.
However, Gaw Capital sees significant upside in building modern, high-specification facilities, particularly those close to major logistics corridors. “Demand for specialized logistics like cold storage continues to rise and these assets can command premium pricing,” he added.
Differentiation Through Design and Operational Value
Gaw Capital’s projects under this platform stand apart in terms of their design and technical specifications—attributes shaped by Manrre’s two-decade track record of managing tenant-centric logistics spaces.
“Manrre’s experience enables us to anticipate tenant requirements and design facilities that support operational efficiency. These modern, Class A spaces are a clear step up from most existing stock in the market,” Mr. Ip stated.
Building for the Future: Sustainability and Technology
Sustainability, technology, and automation are deeply embedded in Gaw Capital’s development roadmap for the region.
“We will incorporate sustainable materials and intelligent systems to enhance energy efficiency,” he explained. “Advanced warehouse management systems (WMS) will drive optimization of inventory flow, space utilization, and resource allocation.”
These initiatives reflect a broader ESG-driven strategy centered on environmental responsibility and future-ready innovation.
Focused on the UAE, Eyes on the Region
While the firm is currently focused on scaling its UAE platform, regional expansion remains a long-term consideration.
“At present, our strategy is to support the UAE pipeline through our partnership with GFH and Palmon. We continue to monitor other GCC and MENA markets, but there are no immediate plans for expansion outside the UAE,” Mr. Ip concluded.
With this strategic move, Gaw Capital underscores its confidence in the UAE’s industrial and logistics sector while reaffirming its global role in connecting capital with high-potential, thematic investment opportunities.