Advertisement
Private equity has played a significant role in shaping Indi...
In today’s real estate landscape, fitness is often treated...
In this episode of Prop Personalities, we sit down with Hars...
Luxury real estate is one of the most talked-about segments ...
Welcome to Prop Personalities by Prop News Time - a podcast ...
Brookfield and Alshaya Group have entered into a joint venture to develop a 480,000-square-foot mixed-use project in Dubai Hills, strengthening confidence in Dubai’s real estate market despite regional geopolitical tensions. The development will include Grade A office spaces, build-to-rent residences and retail outlets. Brookfield Properties will manage the project, while Alshaya plans to set up its new UAE office within the development. The partnership adds to Brookfield’s growing Middle East real estate presence after its recent USD 1 billion residential venture with Abu Dhabi-based Lunate and reflects continued investor interest in integrated urban developments across Dubai.
Brookfield and Kuwait-based Alshaya Group have announced a joint venture to develop a 480,000-square-foot mixed-use project in Dubai, highlighting continued confidence in the emirate’s property sector despite ongoing regional uncertainty. Advertisement
The project will come up in Dubai Hills, a premium master-planned community developed by Emaar. The development is planned as an integrated asset with Grade A office spaces, build-to-rent residential units and retail offerings. Financial details of the transaction were not disclosed by the companies.
As part of the arrangement, Brookfield Properties will act as the development and real estate manager for the joint venture. Alshaya Group will establish its new United Arab Emirates office within the project and will also introduce retail space after completion.
The announcement comes at a time when Dubai’s real estate market continues to see strong investor interest driven by population growth, business expansion and rising demand for integrated living and working environments. The city has witnessed a sustained property boom over the past few years, supported by high-value residential transactions, increasing foreign investment and infrastructure expansion.
At the same time, the region has been dealing with geopolitical tensions linked to the ongoing U.S.-Israeli conflict involving Iran, which has affected business activity and global energy markets. Despite this, large institutional investors and regional companies have continued to move ahead with long-term real estate and infrastructure investments in Dubai and the wider Gulf region.
Brookfield’s Managing Partner and Head of the Middle East, Jad Ellawn, said the project was aimed at addressing Dubai’s evolving demographics and increasing demand for integrated urban developments that combine residential, office and retail spaces within a single ecosystem.
Brookfield, the Canadian investment firm with more than USD 1 trillion in assets under management globally, has been steadily expanding its presence in the Middle East. Across the region, the firm currently manages nearly USD 16 billion in assets spanning private equity, infrastructure and real estate.
The company had also expanded its regional residential strategy in the past year through a USD 1 billion Middle East residential real estate joint venture with Abu Dhabi-based alternative investment manager Lunate. Brookfield has previously invested in commercial office assets and large-scale developments across Dubai and other Gulf markets as institutional demand for premium real estate continues to rise.
Founded in Kuwait in 1890, Alshaya Group is among the largest retail franchise operators in the Middle East. The company manages several international retail and food and beverage brands across the region, including Starbucks, The Cheesecake Factory and Shake Shack. The latest partnership is expected to strengthen Alshaya’s long-term presence in the UAE while supporting Dubai’s growing mixed-use development market.
Source Reuters
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
