Brookfield Asset Management, a Canadian investment company, has entered into an agreement with Lunate Holding RSC LTD from Abu Dhabi to establish a joint venture to invest in the Middle Eastern real estate market. This is reported in a Brookfield press release.
The $1 billion joint venture will focus on investments in Dubai, Abu Dhabi and the UAE's financial centers, which are the most popular real estate markets in the world with a 70% increase in value over the past four years.
The deal is aimed at expanding Brookfield's presence in the premium residential real estate sector and strengthening cooperation with Lunate, which is valued at $110 billion. In 2024, Lunate bought out Brookfield's stake in the largest office tower in Dubai's financial center.
Brookfield is one of the largest foreign investors in the Middle East with an asset portfolio worth $8 billion, including $5 billion in infrastructure and real estate. Brookfield intends to raise at least $2 billion to create the company's largest fund in the Middle East and consider a number of new investments.
Brookfield Asset Management Ltd. is a Canadian alternative asset management investment company. The company invests in the real estate, renewable energy, infrastructure, lending, insurance, and private equity sectors. The headquarters is located in Toronto (Canada). The company manages assets worth more than $1 trillion.
Lunate is an Emirati alternative investment management company in the financial sector. The company's main offerings include launching and managing funds with multiple asset classes. The headquarters is located in Dubai (UAE).
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