Fifth Wall Doubles Down On Its Commitment To The Middle East With The Addition Of Investment Veteran

NEW YORK, Feb. 14, 2023 /PRNewswire/ -- Fifth Wall—the largest asset manager focused on PropTech and the decarbonization of the global real estate industry—today announced its appointment of Fethi Kirdar as a Managing Director on Capital Formation, leading coverage of the Middle East & North Africa. The move signifies the Firm's continued, deep commitment to its numerous investors within the Middle East and its recent first investment in the region in Huspy alongside Sequoia Capital.

"Since our inception, Fifth Wall has long strived to establish a notable presence in the Middle East, given the breadth of the region's investment in the global real estate industry," said Brendan Wallace, Co-Founder and Managing Partner, Fifth Wall. "We have been fortunate enough to have DAMAC as a partner in Dubai since 2021, as they've always been tech and sustainability-forward in their business. We believe regional sovereign wealth funds and real estate firms will increasingly look to take on core leadership roles within PropTech and Climate through investments in Proptech and Climate Tech funds."

Prior to joining Fifth Wall, Kirdar led Finance and Investments for International Media Investments, an Abu Dhabi-based quasi-sovereign media and tech investment firm. Previously, Kirdar was a Venture Partner with Iliad Partners and he spent several years in investment banking at Barclays Capital and Deutsche Bank. He holds his BSc from Georgetown University's School of Foreign Service.

"I've long been impressed by the rapid pace with which Fifth Wall has solidified its position at the forefront of tech for today's global real estate industry and built an unmatched network of more than 110 LPs from more than 15 different countries including a number in the GCC," said Kirdar. "I look forward to leveraging my deep-seeded relationships in the region to accelerate the growth of PropTech and Climate Tech across The Middle East."

Since Fifth Wall was founded in 2016, PropTech investment across North America has grown at a compound annual growth rate of 43%, while the Middle East has grown at 4%. In the past seven years, 87 PropTech startups launched and $1.1B was invested in the sector in the region.

About Fifth Wall: Founded in 2016, Fifth Wall, a Certified B Corporation, is the largest venture capital firm focused on tech for the global real estate industry. With approximately $3.2B in commitments and capital under management, Fifth Wall connects many of the world's largest owners and operators of real estate with the entrepreneurs who are redefining the future of the Built World. Fifth Wall is backed by a global mix of more than 110 strategic limited partners from more than 15 different countries, including BNP Paribas Real Estate, British Land, CBRE, Cushman & Wakefield, Hilton, Host Hotels & Resorts, Ivanhoé Cambridge, Kimco Realty Corporation, Lennar, Lowe's Home Improvement, Marriott International, MetLife Investment Management, MGM Resorts, Related Companies, Starwood Capital, Toll Brothers, and others. Fifth Wall believes this consortium represents one of the largest groups of potential partners in the global Built World ecosystem, which can result in transformational investments and collaborations with promising portfolio companies. For more information about Fifth Wall, its LPs, and portfolio, visit www.fifthwall.com.

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