Latest news with #BrookfieldCorp.
Arabian Post
19-05-2025
- Business
- Arabian Post
Dubai Real Estate Draws Growing Interest from Wall Street Giants
Dubai's real estate sector, having witnessed a remarkable 70 percent surge in property values over four years, is increasingly attracting the attention of major Wall Street investors, signalling a fresh wave of international capital flowing into the market. Among those showing strong interest is Brookfield Corp., a prominent global asset manager, which is reportedly considering a significant residential project in the Dubai Hills district. This potential move marks Brookfield's first foray into the region's residential property market, highlighting confidence in Dubai's continued urban growth and economic resilience. The Dubai Hills area, known for its integrated community developments blending residential, commercial, and leisure spaces, has become a prime target for investors aiming to capitalise on the emirate's strategic location and expanding infrastructure. Brookfield's plans reportedly focus on creating a mixed-use community, aligning with the city's broader vision of enhancing livability and attracting diverse demographics including expatriates, business professionals, and families. This development would add to the already dynamic residential landscape that has benefitted from Dubai's liberal property ownership laws and tax-friendly environment. Singapore-based Temasek Holdings Pte., through one of its property management subsidiaries, is also actively scouting investment opportunities in Dubai, reflecting growing confidence from Asian institutional investors. Temasek's involvement would bring considerable financial firepower and experience in managing large-scale real estate assets, further validating Dubai's position as a regional hub for property investment. The company is reportedly assessing a range of options from commercial towers to high-end residential complexes, keen on leveraging Dubai's status as a global financial and tourism centre. The surge in property values has been driven by a confluence of factors including Dubai's rapid economic diversification away from oil dependence, the government's successful rollout of major infrastructure projects, and the city's appeal as a safe haven for wealth amid geopolitical uncertainties. The Expo 2020 event, although delayed to 2021 due to the pandemic, had a notable impact in energising the real estate market, with sustained interest seen in areas like Dubai Marina, Downtown Dubai, and Palm Jumeirah. Experts suggest that Dubai's regulatory framework, which includes long-term visas for property investors and entrepreneurs, has created an inviting climate for foreign capital. This has been complemented by a steady increase in expatriate population, fostering demand for rental properties and driving rental yields. The UAE's ongoing focus on enhancing its financial services sector and promoting innovation and technology hubs further supports long-term real estate demand. Despite the enthusiasm, the market is not without challenges. Some analysts caution that the sharp rise in prices over a short period raises concerns about affordability and potential market overheating. The post-pandemic recovery phase has also exposed vulnerabilities such as fluctuating oil prices and shifting global economic conditions, which could affect investor sentiment. Additionally, the emergence of remote working trends may reshape residential preferences, potentially influencing demand patterns in Dubai's real estate sector. Brookfield's possible entry into the residential segment is seen as a strategic bet that reflects confidence in Dubai's ability to maintain its growth trajectory. The company's expertise in infrastructure and real estate investment positions it well to navigate the complex regulatory and operational landscape of the region. Industry insiders point out that such high-profile involvement could encourage further inflows of private equity and institutional capital, contributing to market stability and innovation in property development. Temasek's active exploration in Dubai also underscores the emirate's rising prominence on the Asian investment radar. The city's connectivity, free-trade zones, and business-friendly policies make it an attractive gateway for investors seeking exposure to the Middle East, Africa, and South Asia markets. Temasek's investment approach, typically characterised by long-term value creation and active asset management, may influence the development of more sustainable and diversified real estate offerings in Dubai. See also Etihad Airways Moves Closer to Major IPO Decision Market observers note that while the residential sector is gaining momentum, commercial real estate remains a vital pillar of Dubai's property market. The growth of co-working spaces, logistics hubs, and retail developments reflects the changing nature of work and consumption in the post-pandemic world. These trends complement residential growth by fostering integrated urban environments that cater to evolving lifestyles.
CBC
15-04-2025
- Business
- CBC
Conservative MPs attack Carney for his work at Brookfield. They also invested in its companies
Six Conservative MPs, including the party's deputy leader, disclosed last year they personally invested in companies related to Brookfield Corp., despite attacking Liberal Leader Mark Carney for his work chairing one of its spinoff companies. Deputy leader Melissa Lantsman reported in 2024 she personally held an undisclosed amount of shares with Brookfield Renewable Partners L.P., documents from the Office of the Conflict of Interest and Ethics Commissioner show. The company is based in Bermuda, which is considered an offshore tax haven. Brookfield Renewable invests in renewable energy assets and said in its annual report it broke records last year for its strongest "financial results ever." Lantsman, the Conservative candidate in the Ontario riding of Thornhill, took direct aim at Carney and offshore tax havens during the first week of the campaign. "Mark Carney dodged Canadian taxes using offshore tax havens while running Brookfield [Asset Management]," she posted on X on March 26. "He's gotta answer for why he put his personal profits ahead of Canadians — and whether he's still cashing in on this scheme. Canadians deserve a leader who puts Canada first, not Mark Carney first." Carney has cited both his work in the private sector and as governor of Canada and the United Kingdom's central banks as credentials for Canadians to trust him in trade war negotiations with U.S. President Donald Trump. But the Conservatives have sought to portray Carney's work with Brookfield as showing he's a corporate elite and not in it for Canadians. Lantsman included a picture of a CBC News story with her post on X about Carney personally co-chairing two investment funds during his time at Brookfield Asset Management worth a total of $25 billion that were registered in Bermuda, among other locations. They allowed investors to benefit from significant tax advantages, according to information obtained by Radio-Canada. A Brookfield spokesperson said the company and its affiliates are committed to adhering to all applicable tax rules in Canada and other jurisdictions in which they do business. Carney has also defended registering the funds in Bermuda, saying it was a question of "efficiency," not tax avoidance. Five other Conservative MPs — Cheryl Gallant, Scott Reid, Scot Davidson, Stephen Ellis and Greg McLean — also disclosed last year they owned stocks with Brookfield Corp or related companies, as first reported by the Investigative Journalism Foundation. Reid told CBC News in an email that this information is public because he posted information about his holdings on his website. Reid reported in 2024 holding Class A limited voting shares in Brookfield Corp. and units with Brookfield Infrastructure Partners L.P. (which was also formed in Bermuda, according to a Brookfield report). Reid said he's gone further and publicly disclosed all of his correspondence with the government's ethics commissioner on his own website about his "far larger ownership stake in Giant Tiger" for "maximum transparency." "Now, please contrast this with Mr. Carney's behaviour," Reid wrote. "He has disclosed to the ethics commissioner, but refuses to disclose to Canadians, as I have done — and he's the prime minister of Canada, while I'm just a lowly MP." 'Egg on their face' Conservative Leader Pierre Poilievre claimed on Sunday that Carney is refusing "to tell Canadians what investments he continues to own or even where he pays his taxes." Carney has repeatedly said that aside from cash and real estate, all of his assets are in a blind trust that he has no control over and this week said he pays taxes in Canada. Carney has not said what exactly those investments included. The Liberal leader has also said that in co-ordination with the ethics commissioner he's set up "screens" to avoid potential conflicts of interest related to his past work, including at Brookfield. While Poilievre has repeatedly criticized Carney's involvement in Brookfield, his party disclosed he's invested in Vanguard FTSE Canada Index ETF, which in turn invests in dozens of companies including Brookfield Asset Management and Brookfield Corporation, as first reported by the Toronto Star. Brookfield Asset Management was founded in 2022 as a spinoff of the asset management operations at Brookfield Corporation. Political science professor at Dalhousie University, Lori Turnbull, says it's hypocritical for the Conservatives to be making a case against Carney for his time at Brookfield when they are investing or had investments with Brookfield companies. "They can't really have genuine issues with how this organization practises business because if they did, they wouldn't invest in it," said Turnbull. "It's a bit of an egg-on-their-face moment for the Conservatives." But Turnbull said while this issue has helped the Conservatives drive a narrative against Carney as being a rich elite who potentially practises business in a way to save money for his company or avoid taxes, there's a risk of them continuing with that argument. "Now there's a risk associated with them keeping this narrative about Brookfield because they'll look hypocritical doing it," she said. Turnbull also doesn't think this is an issue that is going to decide this election "by any stretch." WATCH | Carney says Brookfield pension funds in Bermuda 'abide by the rules': Carney says Brookfield pension funds in Bermuda 'abide by the rules' 20 days ago Duration 3:56 Responding to questions about a Radio-Canada report on Brookfield Asset Management using Bermuda as a tax haven for multimillion-dollar pension funds, Liberal Leader Mark Carney said the setup follows the rules and doesn't avoid taxes because they're paid in Canada by the individual pensioners. A spokesperson for the Conservative Party, Sam Lilly, says after U.S. President Donald Trump's tariff threats, Poilievre sold off all his investments in foreign economies to invest in major index funds (ETFs) in "nearly 50 companies across the Canadian economy." Lilly said Poilievre doesn't control the activities of these ETFs and discloses them to the ethics commissioner. "Unlike Mark Carney, Conservative MPs have disclosed their financial interests which are public for all to see," Lilly said. "And unlike Mark Carney, Conservative MPs were not running Brookfield and were not intimately involved in Brookfield's decision-making practices. Mark Carney must answer for Mark Carney's decisions." Lilly also said Opposition MPs are not in a position to directly make decisions to benefit Brookfield and pointed the finger at Carney. "Mark Carney should immediately publish his assets and the details of his conflict of interest plan and screens so voters can judge well before election day," Lilly wrote in a statement. The Conservative Party did not say if their MPs still hold their assets related to Brookfield.
Bloomberg
26-02-2025
- Business
- Bloomberg
DeepSeek Means More Data Center Capacity Needed, Brookfield Says
The progress made by Chinese startup DeepSeek means that more data center capacity is needed to handle the growing artificial intelligence workload, according to Brookfield Corp.'s Bruce Flatt. As the costs of running AI comes down, 'more use cases come about and that's what's going to happen in the next 10 years,' the investment firm's chief executive officer told Bloomberg TV in an interview in London on Wednesday.
