Hong Kong-based multi-asset investment manager Gaw Capital is accelerating its investment activity in the Middle East, aiming to capitalise on the region’s robust post-pandemic rebound across real estate and industrial sectors.
Christina Gaw, Managing Principal and Global Head of Capital Markets at Gaw Capital, confirmed the firm’s strategic interest in the United Arab Emirates and Saudi Arabia, citing strong demand for real assets across these rapidly growing markets. “The Middle East is very wealthy, but the question is what value can be added. The answer is expertise,” she said in a recent interview. “They want to attract talent and a wide range of businesses. We have tenants and enterprises ready to expand into the region, and we serve as a bridge to facilitate that expansion by offering capital and local networks.”
In May, the firm acquired a residential property in Abu Dhabi valued at over $150 million. This follows a November agreement signed with Expo City Dubai and Lingang Group to explore the development of the Expo Life Science Park in Dubai. Gaw Capital anticipates closing an additional deal in the region in the second half of 2025.
The firm, which reported $34.4 billion in assets under management as of the end of 2024, is planning to establish a dedicated investment vehicle to build a regional track record before allocating capital from its broader funds.
This strategic shift aligns with the increasing inflow of business and foreign capital into the Middle East real estate market, supported by favourable economic conditions and development momentum in key sectors.
While the Middle East emerges as a new focal point, Gaw Capital continues to expand its presence across Asia Pacific. The firm is currently raising a $2 billion fund targeting private equity and private credit investments in the region. Investors from the Middle East, Asia and North America have shown interest, driven by a desire to diversify in the face of evolving geopolitical dynamics.
“Given the current uncertainties in the U.S., investors who have historically been overweight in the American market are now considering rebalancing,” said Gaw. “Asia, having underperformed over the past five years, now presents relative value and an opportunity for strategic repositioning.”
In addition to its Middle East activities, Gaw Capital has recently completed other major investments including a more than $1 billion acquisition of Tokyo’s Tokyu Plaza Ginza mall in partnership with a joint venture, and a 45% stake in Agility Asset Advisers, a real estate asset manager in Japan.
In its home market of Hong Kong, the firm is focusing on the private credit sector, particularly in upper-middle class residential developments. Gaw confirmed ongoing discussions with developers requiring liquidity and with banks seeking to offload non-performing loans.
Gaw Capital, founded in 2005 by Christina Gaw’s two elder brothers, continues to diversify its investment portfolio both geographically and across asset classes, reflecting a proactive strategy in response to shifting global capital flows.
-Reuters
