Real Estate Investment in UAE and Saudi Arabia

Brookfield, a major global fund manager, is expanding its real estate investments in the Middle East, this time focusing on the residential sector. The company has formed a joint venture with Abu Dhabi-based Lunate, aiming to invest $1 billion in equity. The partnership will concentrate on developing high-quality, build-to-sell and opportunistic buy-to-sell residential assets across the UAE, Saudi Arabia, and other regional markets.

This venture follows Lunate's previous investment in ICD Brookfield Place, a prominent office address in Dubai. The joint venture will establish a dedicated team to manage and develop these residential assets. This move reflects the growing global interest in the region, particularly the UAE, which is a top destination for wealthy migrants.

Brookfield's expansion into residential real estate is driven by a rising population seeking premium properties. Jad Ellawn, Managing Partner and Regional Head at Brookfield, highlighted the company's expertise in private equity and global real estate to deliver top-tier assets. Lunate, with over $110 billion in assets, brings significant financial backing to the partnership.