SC Capital Partners, CapitaLand Investment launch industrial fund in UAE

The first project will be developed in the Ras Al Khaimah Economic Zone.

SC Capital Partners, a Singapore-based real estate investment firm, has launched the SC GCC Real Estate Industrial Development Fund (GRID) in the United Arab Emirates. The fund is co-sponsored by CapitaLand Investment Limited (CLI), which holds a 40% stake in SC Capital Partners.

The first project under the fund will be developed in the Ras Al Khaimah Economic Zone (RAKEZ). Covering 300,000 square meters, it is expected to create 1,800 jobs and attract over 50 tenants.

SC Capital Partners is working with THi Holding Management Corporation (THi), which will manage development, assets, and operations. Together, the three companies will form a consortium to oversee the project.

An investment framework agreement was signed with RAKEZ on 28 April under the patronage of His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah.