The Company has been formed for the purpose of making acquisitions in the real estate sector in the United Arab Emirates.

The UAE real estate sector remains one of the fastest growing real estate markets across the world, despite the recent slowdown in economic growth in the region due to oil price fluctuations. Whilst rental rates and sale prices have generally softened over the last three years, they have remained relatively stable, which reflects the real estate market's maturity and the improved regulatory environment in the UAE. The Company's strategy is to seek to acquire and develop a market leading real estate business through acquisitions of land and real estate assets in the UAE.

Following Admission, the Directors will draw on their sector experience, in conjunction with their advisers' and shareholders' contacts and relationships, to identify suitable targets within the real estate sector. There is no specific expected target valuation or size for an Acquisition. Acquisitions will be negotiated with vendors and may be for cash or equity and accordingly may require the raising of additional external capital which will be made up of a combination of equity, cash and/or debt, on a deal by deal basis.

The Company does not currently have any specific Acquisitions under formal consideration and has not engaged in negotiations for any target asset but the Company is aware of a number of potential targets based in the UAE for consideration after Admission.