Zada Capital Partners · Dubai
A private fund for the housing Dubai's industry runs on.
Zada Capital Partners is the sponsor and general partner of Workforce Housing Fund I: committed capital, deployed into MOHRE-approved workforce housing in the Jebel Ali corridor, operated by the owner, distributed as income.
Zada exists to hold the housing the Gulf's real economy already depends on, and to run it to a standard an auditor can sign.
AED 50,000,000+
target raise, Workforce Housing Fund I
The template property, in numbers
- 634
- beds of approved capacity*
- 550
- beds as configured
- 127
- rooms
- 47,000
- sq ft built-up
- 800
- AED per bed / month*
- 2018
- year built
*Seller representations, subject to verification: the 634-bed MOHRE certificate is to be sighted and the rent basis confirmed in diligence. The building is configured today at 550 beds across 127 rooms. Figures as of August 2026, unless otherwise stated.
The firm
What Zada is, and what Zada does.
A fund, not a deal. Zada exists to make one asset class investable at institutional standard: the accommodation the corridor's employers are legally required to provide.
The firm
Zada Capital Partners is a Dubai sponsor: the general partner that structures the Fund, puts its own name behind the diligence, and runs the assets after completion.
The fund
Workforce Housing Fund I is a Qualified Investor Fund for professional investors: committed capital in a limited partnership, per-asset SPVs, capped LP liability, quarterly reporting and an annual audit.
The work
We buy income-producing workforce housing, re-certify it, operate it tenant-side under the GHURFA brand, and distribute the income. A single asset is a property purchase; a fund is a platform.
Sheikh Zayed Road, Dubai, at dusk
The opportunity
The customer is the employer, and the demand is written into law.
Employers in the UAE are legally obliged to house blue-collar staff in accommodation approved by the Ministry of Human Resources and Emiratisation. Demand does not track consumer sentiment or the property cycle; it tracks industrial employment.
In the Jebel Ali corridor that employment is anchored by Jebel Ali Port, JAFZA, Dubai Investments Park and a construction pipeline that includes Palm Jebel Ali and the Al Maktoum International expansion.
Most competing stock was built in the 1990s and 2000s to density and life-safety standards that increasingly fail inspection. Modern, compliant capacity is structurally scarce. We buy it, re-certify it and operate it ourselves.
Method
How we underwrite.
- 01
Proprietary market data
Our pricing tools are built on the official Dubai transaction record, ingested and maintained in-house, so entry prices and rent bases are set against registered evidence, not asking prices.
- 02
Audited modelling
Every projection comes out of formula-audited workbooks, with a status code carried on every figure. The full model and its assumptions register travel with the memorandum.
- 03
A hard buy-box
Criteria before charm: build year, floors and lifts, approvable beds, compliance posture, minutes to the port. An asset either clears the box or is not priced at all.
- 04
Verification gates
Returns are estimated only on what survives the gates: the lease, the rent roll, the certificate, the costs. Nothing is underwritten off a listing.
Behind the tooling: 1.76M registered sale transactions and 10.35M lease contracts from Dubai's official records.
Dubai Marina after dark
Strategy
One asset class, bought with discipline.
Each property is acquired through the same four-tier structure, inside its own SPV, with no cross-collateralisation. The vendor note and earn-out keep sellers accountable for what they have represented; the bank sees every tier in full.
What we buy
- Built 2015 or later: modern services, no legacy stock
- G+3 – G+5 with passenger lifts
- 400 – 800 approvable beds per asset
- MOHRE-certifiable, Civil Defence compliant
- ≤ 20 minutes to Jebel Ali Port and JAFZA
The acquisition structure, per property
| Fund equity | 30% |
| Senior bank facility | 55% |
| Vendor loan note (PIK) | 10% |
| Performance earn-out | 5% |
| Cash to vendor at completion | 85% |
The earn-out is paid only on independently certified performance; the note is unsecured, subordinated and fully disclosed to the lender.
Workforce accommodation is capped at roughly AED 900M of property value, reviewed annually and changeable only with investor consent. Beyond the cap, growth diversifies into staff housing, logistics, cold storage and pre-let build-to-suit. We stop buying camps when camps stop being cheap.
Resilience, as modelled
- 7.2
- % occupancy to break even*
- 29
- % occupancy fully services the debt*
- 3.88
- × debt-service cover as modelled*
*Modelled figures on stated assumptions, several of which are unverified seller representations; not a forecast or promise of performance. The assumptions register accompanies the memorandum.
The Fund
The Fund: Workforce Housing Fund I.
The Fund is not yet formed. No regulatory registration, private placement memorandum or limited partnership agreement exists today; capital can be accepted only after formal documentation prepared by UAE fund counsel.
| Vehicle | Qualified Investor Fund, domiciled in the DIFC or ADGM |
| Regulator | DFSA (DIFC) or FSRA (ADGM) |
| Target raise | AED 50,000,000+ |
| Structure | Limited Partnership; per-asset SPVs; GP wholly owned by the sponsor |
| Management fee | 2% per annum of assets under management |
| Preferred return | 8% annualised on deployed LP capital |
| Carried interest | 80 / 20 LP / GP above the hurdle |
| Leverage | 55% senior loan-to-value, per asset, non-cross-collateralised |
| LP liability | Strictly capped at committed capital |
| LP governance | Reserved matters only; no voting on daily operations |
| Reporting | Quarterly · audited annually |
Return modelling is provided in the memorandum to qualified investors, with the assumptions register alongside. This page publishes none.
Request the memorandumGovernance & verification
Nothing moves until the lease and the rent roll are proven.
The purchase is designed around what has not yet been verified. These are the gates, in order, and each one can stop the transaction.
- 01
Leasehold mortgageability
The site sits on an annually renewable Government of Dubai ground lease against a 15-year bank facility. Lessor consent to mortgage, tenor, transferability and step-in rights are resolved before any diligence spend.
- 02
Income is represented, not verified
Audited rent roll, tenant contracts, bank statements and the MOHRE capacity certificate are all outstanding. Until sighted, every income figure is a seller representation.
- 03
Costs are estimates
Utilities and staffing are modelled pending twelve months of DEWA bills and actual contracts.
- 04
The earn-out prices the risk
Five per cent of the price is paid only on independently certified performance. The seller stands behind the numbers, or does not collect them.
Sheikh Zayed Grand Mosque, Abu Dhabi
Template property
Jebel Ali Industrial First.
Under evaluation, pre-diligence
A 2018-built workforce residence one corridor from Jebel Ali Port: 127 rooms on five floors, 2 commercial kitchens, bathrooms on every floor, and an approved capacity of 634 beds as represented by the seller. Operated under the GHURFA brand, tenant-side, by our own management.
- Built 2018
- G+4, passenger lifts
- 127 rooms · 550 beds configured
- Approved capacity 634 beds*
- 47,000 sq ft built-up
- AED 800 per bed / month*
Deal-level figures, the model and the assumptions register live in the investor portal and the memorandum, not on this page.
Visit the GHURFA operating site
Abu Dhabi Corniche
Investors
Request the memorandum.
The Confidential Investor Memorandum is provided to qualified investors after verification. We respond within one business day.
Sponsor profiles accompany the memorandum. We are in Dubai; meet us in person.