Global announced today that it has been awarded "Best Real Estate Fund Manager in Middle East” at the “International Real Estate Finance Summit 2009 (IREF)” hosted by ICG in London. Global won this award for the second consecutive year for its Shari’a compliant real estate focused funds.

Mr. Rakesh Patnaik Head of Real Estate Funds – Alternative Asset Management Department, received the award from Mrs. Liz Peace, CEO, British Property Federation during IREF-2009 awards Night ceremony held on 4th November 2009 at Radisson SAS Portman Hotel, London.

In his acknowledgement speech, Mr. Patnaik expressed pride that Global Investment House is once again receiving this international recognition. He added, “the award reflects Global's commitment to provide real estate opportunities to its dedicated unit holders,” He also thanked Global’s management team, Fund’s team and other staff for their continued support and cooperation in helping Global to achieve this recognition in the present difficult times. He further commented, 2009 was a challenging year for fund managers and investors. Global clearly focuses its efforts on being an efficient fund manager in the long term and in all market cycles.

Mr. Rakesh Patnaik delivered a speech on “Current Views & Future Trends of GCC Real Estate Market”. He showcased the immense potential and opportunities in the real estate sector in the Middle East region and advocated that Middle East offers exciting and rewarding investment opportunities and sustainable growth for entrepreneurs in the years to come. He deliberated that there has been a dramatic improvement in investor sentiment over the last six months, with investors feeling vastly better about the value proposition of Middle Eastern real estate. Although they recognize that not all the markets have yet bottomed, however majority investors fell that worst is behind us.
 
Mr. Rajiv Nakani, Managing Partner at Global Capital Management Limited said, “We are extremely delighted with the achievement and recognition received for the company. He added, “It is a proud moment for our real estate team which manages about USD 500m of real estate assets across Middle East and North Africa and emerging Asian markets including China, India and Vietnam through its 4 real estate funds”. Mr. Nakani conveyed his sincere thanks to all the investors for their continued support and confidence showed in the products managed by Global .