Updated: Sep 28, 2018
Evarei Management LLC (Evarei) of the UAE today announced that it plans to form a private joint venture (JV) with BCMDC – a boutique real estate development and investment firm – to invest US$ 45 million of already-secured private capital in real estate acquisitions in Dubai, the wider UAE and middle east, and globally.
Under this new private initiative announced today, Evarei’s principals will form a new joint venture company with BCMDC.
The JVCO will target the generation of value to JV stakeholders within 5- to 7-years. Evarei estimates that this value can be realized based upon deployment of these JVCO funds into strong investment opportunities, many of which are already sourced and ready for procurement by the JVCO.
The award-winning Evareium project, to which Evarei is advisor, is a Cayman Islands-based investment initiative targeting the acquisition and development of real estate assets and projects in Dubai, the wider UAE and the MENA region, with an interest also in investments elsewhere globally. Evareium ultimately envisions a blockchain and smart contract solution for the digitalized real estate investment generation.
Stefan Hickmott, CEO of Evarei and director of Evareium, commented:
“Today, six months since officially announcing our initiative as a small start-up firm, we are delighted to have procured this opportunity to create and manage this significant private real estate investment initiative for the MENA region, set to bring enhanced value to the region, property owners and to our stakeholders”.
Stefan added: “This private JV will be owned by private shareholders and will target ready, income producing assets in MENA and Europe predominantly, corresponding perfectly with other funds envisioned to be raised in the future and which will target value-add and opportunistic investments that distinctly precede immediate income generation typically. So our initiatives will focus on differentiated aspects of the real estate investment spectrum and are able to complement each other symbiotically rather than compete directly.”
Stefan continued: “This announcement today is testament to our commitment to our partners and in our support for the institutional transformation of the real estate sector in the GCC region. We want to embrace the abundance of emergent opportunities that have been made possible by the region’s visionary leaders – allowing world-class initiatives like Evareium to form and prosper – and generate value for our stakeholders”.
Evarei is a real estate asset and management advisory firm based in the UAE.
The term Evareium pertains to an initiative created by Evarei and involving EVM Blockchain Limited – a Cayman Islands based company. A Cayman Islands limited partnership fund is planned to be the ultimate entity pursuing and managing investments under Evareium.
Evarei advises EVM Blockchain Limited on matters relating to the establishment of the Evareium real estate initiative and evaluates assets and projects suitable for Evareium.
Stefan Hickmott is a seasoned real estate investment professional and has been living in Dubai and the GCC region since 2001 and has an extensive experience in real estate acquisition, advisory and private equity.
Evarei won the award of ‘Most Innovative Real Estate Fund of the Year – UAE 2017’ presented by International Finance and International Finance Magazine in January, 2018: http://www.internationalfinance.com/finance/wealth-management/future-real-estate-evareium-project/.
ÿ Website: www.evarei.com
Issued and authored by: Evarei Management LLC
23 September 2018