Ras al khaimah: SC Capital Partners, a leading Singapore-based real estate investment management firm, has announced the launch of the SC GCC Real Estate Industrial Development Fund (GRID), marking its first co-sponsored industrial development fund in the UAE. CapitaLand Investment Limited (CLI), a global real asset manager with a 40 percent stake in SC Capital Partners, will co-sponsor the Fund. This landmark initiative is set to support Ras Al Khaimah’s transformation with a flagship industrial project, anticipated to create 1,800 jobs, attract over 50 tenants, and cover 300,000 sqm of land.
According to Emirates News Agency, SC Capital Partners will collaborate with its industrial partner, THi Holding Management Corporation (THi), which will serve as the development manager, asset manager, and operator. Together, the three partners form a consortium that combines global investment expertise with on-the-ground real estate capabilities, ensuring the Fund’s long-term success.
Under the patronage of H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, the Fund’s inaugural project will be developed in the Ras Al Khaimah Economic Zone (RAKEZ). This initiative comes as the UAE’s industrial and logistics sectors experience significant growth, driven by rising purchasing power, expanding e-commerce, and government-led Industry 4.0 initiatives.
The project aims to attract high-tech and smart manufacturing enterprises, particularly from Asia, fostering innovation, strengthening supply chain resilience, and reinforcing the UAE’s role as a regional leader in industrial transformation. H.H. Sheikh Saud commented on the partnership’s reflection of a commitment to creating a dynamic business ecosystem that attracts global investment and contributes to the sustainable growth of the UAE economy.
Building on this vision, the consortium plans to transform over 300,000 sqm of land in Ras Al Khaimah into a next-generation industrial park, drawing high-tech and smart manufacturing enterprises from Asia. The park is expected to serve as a catalyst for innovation and a hub for resilient, future-focused industries, reinforcing the UAE’s role in global supply chains.
Suchad Chiaranussati, Chairman and Founder of SC Capital Partners, highlighted the significance of the GRID fund launch as a milestone in their expansion strategy, emphasizing the UAE’s compelling opportunities for long-term value creation. Andrew Lim, Group Chief Operating Officer of CLI, stated that CLI’s co-sponsorship of GRID showcases their agility in co-creating funds that capture timely opportunities as the GCC region becomes a crucial logistics node in the global supply chain.
Sarah Hu, co-founder of THi, remarked on the UAE’s strategic position as an ideal launchpad for the future of manufacturing and supply chains, investing in world-class industrial infrastructure to create a resilient, innovation-driven ecosystem that positions Ras Al Khaimah as a vital link between Asia and the GCC region.
With the UAE as its launchpad, the Fund has already established a robust pipeline of development opportunities in Abu Dhabi and Dubai. These key industrial and economic zones will serve as anchor markets for the Fund’s long-term growth strategy, aligning with the UAE’s national ambitions for economic diversification, advanced manufacturing, and global connectivity.