Gemcorp Capital Middle East Limited, Based in Abu Dhabi, Announces Its Inaugural UAE Direct Lending Investment into Bab Al Wasal Group

21 May 2026

Abu Dhabi, UAE 21 May 2026, Gemcorp Capital Middle East Limited ("Gemcorp"), the emerging markets-focused asset manager based in Abu Dhabi, today announced the successful closing of a senior secured direct lending facility providing expansionary capital to Bab Al Wasal Group, a leading UAE-based diversified group spanning real estate, logistics, construction, technical services and hospitality.The transaction represents a highly strategic and mutually beneficial partnership designed to accelerate scalable growth for both parties. The deal also marks the Gemcorp group’s first such private capital deployment in the UAE and represents a significant milestone for the Gemcorp group's Middle East franchise, reflecting the firm's deepening commitment to the region. It also underscores Gemcorp's philosophy of having on the ground presence while supporting the growth of UAE companies through bespoke capital solutions.In this context, the bilaterally negotiated facility was sourced directly through Gemcorp's on-the-ground presence and proprietary origination platform in Abu Dhabi. The financing will support the rapid scaling of Bab Al Wasal Group's social infrastructure portfolio across Dubai, enabling meaningful growth of the Group's existing footprint of managed properties, while enhancing operational capacity and long-term revenue visibility. The sector remains critical to enabling the UAE's long-term growth prospects, with regulated supply structurally short of demand, driven by the Dubai 2040 urban expansion, sustained migration inflows and tightening standards under MoHRE. Gemcorp (via Gemcorp Capital Management Limited, its UK FCA-regulated affiliate) acted as sole originator and a Gemcorp group managed fund acted as sole lender on the facility.Throughout the process, Gemcorp worked closely with the Bab Al Wasal management team to assess its evolving capital needs and structure a tailored financing solution aligned with the Bab Al Wasal Group's long-term development objectives, operational nuances of the business, and market dynamics within the UAE social infrastructure sector. Gemcorp is committed as a long-term financing partner to the Bab Al Wasal Group through the next phases of its growth journey.Asad Hajiyev, Portfolio Manager and Senior Executive Officer at Gemcorp Capital Middle East Limited, commented: "We are proud to support Bab Al Wasal Group's growth story as the company expands access to high-quality social infrastructure across the UAE. We view periods of regional stress as a test of conviction rather than a signal to retreat. Long-term capital is best deployed by those who remain engaged through the cycle, and the UAE opportunity is structural, not tactical. Gemcorp remains committed to the region as we continue building out our team and expanding our footprint. We look forward to supporting Bab Al Wasal as a long-term partner through the next chapter of its growth."Arsalan Sardar, Managing Director at Bab Al Wasal Group, commented: “This transaction marks a pivotal milestone for Bab Al Wasal Group. Our partnership with Gemcorp is built on strong alignment, speed of execution, and a deep understanding of our business model and growth ambitions. The facility provides not only capital, but strategic flexibility, allowing us to accelerate expansion across our social infrastructure platform and strengthen our position in a critical and growing sector of the UAE economy. We view Gemcorp not just as a lender, but as a long-term partner in our growth journey.” Press ContactsMiddle East: Emma Procter, Rostrum, e.procter@rostrum.agency, +971581141041US: Meir Kahtan, Meir Kahtan Public Relations, mkahtan@rcn.com, +19178640800UK & Europe: Priyanka Dutt, Rostrum, p.dutt@rostrum.agency, +447596711758 Asia: Tom Hughes, Gemcorp Capital, Chief Marketing & Communications Officer, thughes@gemcorp.net, +447581072005 About Gemcorp Capital:Gemcorp is a privately owned investment group focused on unleashing the potential in emerging markets. We combine decades of experience with financial discipline and local knowledge to deliver long-term value for investors and sustainable growth in the economies we invest in. Our core focus is emerging market private credit, structuring and managing solutions that make complex markets investable for global investors. With deep roots across Africa, an established Middle East platform, and reach into other emerging market growth corridors, we look to unlock opportunities that offer genuine alpha and diversification. We mitigate risks through disciplined underwriting and innovative structuring, deploying capital in sectors critical to economic resilience and development. Additionally, we manage complementary strategies in trade finance, liquid markets and special situations, each underpinned by the same investment discipline and conviction-based philosophy. About Bab Al Wasal Group:Founded in 2017, Bab Al Wasal Group is a Dubai-based diversified conglomerate with operations spanning real estate, logistics, construction, technical services, and hospitality. The Group operates through several entities including Bab Al Warqa Properties, Bab Al Warqa Logistics, Bab Al Wasal Building Contracting, Bab Al Wasal Technical Services, and Bab Al Nojoom Restaurants & Cafeterias.The Group’s activities include the operation and management of accommodation assets, property administration and compliance services, logistics and supply‑chain operations, building contracting and technical maintenance services, and food‑service operations. These activities are primarily conducted in sectors linked to population growth and ongoing infrastructure development in the UAE and are structured to generate recurring revenues through long‑term operational contracts and managed assets. Disclaimer:This press release document has been prepared solely for informational purposes by the Gemcorp Group (as defined below), is confidential and may not be reproduced. This document is not intended for public use or distribution and remains the property of the Gemcorp Group which reserves the right to require the return of this document at any time. This document does not constitute an offer or solicitation of an offer with respect to the purchase or sale of any security and should not be relied upon when evaluating the merits of investing in any securities or form the basis of an investment decision. The information in this document has been obtained from various third-party sources, some of them forward-looking statements and/or projections. Any forward-looking statements and/or projections are inherently subject to material business, economic and competitive risks and uncertainties, many of which are beyond the Gemcorp Group’s control. In addition, these forward-looking statements and/or projections are subject to assumptions with respect to future business strategies and decisions that are subject to change. No representation is made or assurance given that such statements, opinions, estimates, projections and/or forecasts in this document are complete or correct or that the objectives set out in this document will be achieved. The Gemcorp Group does not undertake to update this information, nor does it accept any liability for any such third-party information of the conclusions set out herein. No statement in this document, including any references to specific securities, assets classes and/or financial markets is intended to or should be construed as investment, legal, accounting, business or tax advice. The contents of this document do not constitute an investment recommendation. This document expresses no views as to the suitability of any investments described herein to the individual circumstances of any recipient. If an offer to sell investments is made in the future, it will be made by a formal prospectus, instrument of incorporation and subscription document, or similar documents and not on the basis of the information contained in this document, and any such offer will only be made to the extent it is in accordance with the laws and regulations applicable in the jurisdiction in which such offer is being made. This document is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation. In the United Kingdom, this document is communicated to Professional Clients only by Gemcorp Capital Management Limited which is authorised and regulated by the Financial Conduct Authority (the “FCA”) (Reference number: 952794) and has its registered address at 1 New Burlington Place, London, W1S 2HR, United Kingdom. Professional Clients has the meaning prescribed to it in the FCA’s Handbook. In the United States, Gemcorp Capital Advisors, LLC, is registered as an investment adviser with the U.S. Securities and Exchange Commission (the “SEC”) under the Investment Advisers Act of 1940, as amended (CRD # 329386/SEC#:801-130200). In the Abu Dhabi Global Market (“ADGM”), this document is communicated to Professional Clients only by Gemcorp Capital Management (Middle East) Limited with registered office address Unit 20, Level 7, Al Maryah Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates is regulated by the ADGM Financial Services Regulatory Authority (Financial Services Permission Number: 220156). Professional Clients has the meaning prescribed to it in the FSRA’s Handbook. Gemcorp Capital Management Limited, Gemcorp Capital Advisors LLC and Gemcorp Capital Management (Middle East) Limited and other affiliated entities, together the “Gemcorp Group”.

Gemcorp Capital Middle East Limited, Based in Abu Dhabi, Announces Its Inaugural UAE Direct Lending Investment into Bab Al Wasal Group

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