Real estate in the GCC is booming due to population and economic growth, mega-developments, and rising demand for both residential and commercial properties. Berkeley Assets is targeting UAE and KSA markets, confident in their attractive direct real estate investment projects and impressive ROI over recent years. Despite global instability, the UAE property market is set to grow significantly in 2023, with off-plan transactions up 90% year-on-year in January and luxury property prices up 89% in the past 12 months. The GCC real estate market is expected to continue growing in the future, providing opportunities for investors, buyers, and developers.

With a traditional private equity approach, we have been focusing on the acquisition of private businesses, in full or in part, across multiple sectors including F&B and hospitality. We're also seeing more investments in alternative assets, including art, fine wines, and horology. In the venture capital world, we're looking for innovative SMEs and startups, particularly in fintech, digital transformation, and renewable energy technology in the Middle East. We're also diversifying our portfolio by entering into cybersecurity and robotics. We'll update clients on new investments in the next quarter.

Private equity (PE) continues to be active in dealmaking globally in March 2023, with expected growth trajectory this year. However, spiking interest rates caused a decline in deals, exits, and fundraising in the second half of the year, signalling a turn in the cycle. Private equity firms have seen an influx of capital from institutional and private clients due to loss of confidence in banks and household names. There is a demand for diversification into the private markets for security and capital protection, with a key focus on private equity real estate and private debt. The PE industry is expected to remain active in dealmaking with a focus on sectors poised for growth and attractive valuations.

We invest heavily in our team in a productive and family-oriented environment. We prioritize hiring and growing our staff, and have implemented monthly staff welfare meetings to review best practices and boost staff morale. We also offer team building activities that focus on the physical and mental well-being of our team members, such as Padel, Tennis, Badminton, Boxing, and Go-Karting.

We are currently expanding our UK team to meet the growing demand from international institutional and private clients. We offer hands-on training and encourage further qualifications to develop technical and soft skills of our staff. Berkeley Assets aims to see our team continue to grow and become well-rounded individuals.