Latest news with #Lunate
Zawya
20-05-2025
- Business
- Zawya
Brookfield and Lunate to launch $1bln residential build-to-sell joint venture
Lunate to leverage its regional network and capabilities, alongside Brookfield's private equity and real estate investment expertise Abu Dhabi: Brookfield Asset Management ('Brookfield'), through its Middle East private equity strategy and Lunate, an Abu Dhabi-based global alternative investment manager with more than USD 110 billion in assets under management, today announces a joint venture ('JV') to invest in the residential real estate sector in the Middle East. The JV, with total projected equity of USD 1 billion, will focus on developing high-quality build-to-sell and opportunistic buy-to-sell residential assets across the UAE, Saudi Arabia, and other markets in the Middle East. Lunate will commit a significant cornerstone investment to the JV and will leverage its regional network and capabilities to help drive the JV's commercialization and fundraising efforts. This is in line with its strategy to develop differentiated investment partnerships and vehicles targeting compelling opportunities in high-growth sectors. The JV will establish its own dedicated team to develop and manage these assets. It aims to capitalize on favorable trends in the Middle East's residential real estate market, underpinned by strong economic performance and robust population growth. The region continues to draw global interest as an emerging investment destination, demonstrated by the UAE's position as the top location for wealthy migrants in 2024. Prime residential properties in the region continue to experience strong capital appreciation and positive rental growth with low vacancies, while property prices remain highly competitive in comparison to other global cities, enhancing their investment appeal. Prime residential values in Dubai and Abu Dhabi, key focus markets for the JV, have increased by 18.0% and 11.1% respectively in 2024, with continued outperformance in 2025 [1]. This new JV follows Lunate's March 2024 acquisition of a 24.5% equity interest in ICD Brookfield Place, a world-class commercial and retail property located in the Dubai International Financial Centre (DIFC). Khalifa Al Suwaidi, Managing Partner at Lunate, said 'Our partnership with Brookfield is a strong demonstration of our ability to provide our clients access to compelling investment opportunities by joining forces with experienced investment managers. Brookfield brings unparallelled real estate and investment expertise, with a proven track record of delivering marquee developments, both regionally and globally. The Middle East's residential real estate sector presents a highly attractive investment opportunity, driven by the region's strong economic outlook and growing status as a hub for global wealth and talent.' Jad Ellawn, Managing Partner and Regional Head, Middle East, Brookfield, said 'Our joint venture with Lunate is significant as we expand into the high-quality residential real estate sector, driven by a rising population seeking premium properties. By combining our private equity operating expertise with our deep global real estate development and management experience, we are well-positioned to deliver best-in-class assets catering to this demand. This partnership underscores our commitment to creating long-term value for investors while catering to the evolving consumer preferences.' Brookfield has a longstanding presence across sectors in the region, deep partnerships, and approximately USD 15 billion in managed assets across private equity, real estate, and infrastructure.
Argaam
20-05-2025
- Business
- Argaam
Lunate, Brookfield to invest $1B in Saudi, UAE residential real estate
Lunate, an Abu Dhabi-based global alternative investment manager, announced a joint venture with Brookfield Asset Management to invest in the residential real estate sector in Saudi Arabia, the UAE and other Middle East countries, with a total expected value of $1 billion. The joint venture will focus on developing high-quality residential properties, both for sale developments and build-to-sell properties, Lunate said in a statement. Lunate will commit a significant principal investment in the joint venture and will leverage its regional network and capabilities to support the project's marketing and capital-raising efforts. This aligns with its strategy of developing distinguished partnerships and investment vehicles targeting high-growth sectors with promising opportunities. The joint venture will establish a dedicated team to develop and manage these assets. The project aims to capitalize on positive trends in the Middle East's residential real estate market, supported by strong economic performance and robust population growth. Lunate noted that the region continues to attract global attention as an emerging investment destination. 'Prime residential properties in the region continue to experience strong capital appreciation and positive rental growth with low vacancies, while property prices remain highly competitive in comparison to other global cities, enhancing their investment appeal.', Lunate highlighted.
Trade Arabia
20-05-2025
- Business
- Trade Arabia
Brookfield, Lunate set to launch $1bn residential build-to-sell JV
Brookfield Asset Management, through its Middle East private equity strategy, and Lunate, an Abu Dhabi-based global alternative investment manager with more than US$110 billion in assets under management, today (May 20) announced a joint venture to invest in the residential real estate sector in the Middle East. The JV, with total projected equity of $1 billion, will focus on developing quality build-to-sell and opportunistic buy-to-sell residential assets across the UAE, Saudi Arabia, and other markets in the Middle East, said the group in a statement. Lunate will commit a significant cornerstone investment to the JV and will leverage its regional network and capabilities to help drive the JV's commercialisation and fundraising efforts. This aligns with its strategy to develop differentiated investment partnerships and vehicles targeting compelling opportunities in high-growth sectors. Brookfield Asset Management said the JV will establish its own dedicated team to develop and manage these assets. It aims to capitalise on favourable trends in the Middle East's residential real estate market, underpinned by strong economic performance and robust population growth. Brookfield has a long-standing presence across sectors in the region, deep partnerships, and approximately $15 billion in managed assets across private equity, real estate, and infrastructure. According to experts, prime residential properties in the region continue to experience strong capital appreciation and positive rental growth with low vacancies, while property prices remain highly competitive in comparison to other global cities, enhancing their investment appeal. The prime residential values in Dubai and Abu Dhabi, key focus markets for the JV, have increased by 18% and 11.1%, respectively in 2024, with continued outperformance in 2025, they stated. Khalifa Al Suwaidi, Managing Partner at Lunate, said: "Our partnership with Brookfield is a strong demonstration of our ability to provide our clients access to compelling investment opportunities by joining forces with experienced investment managers. Brookfield brings unparallelled real estate and investment expertise, with a proven track record of delivering marquee developments, both regionally and globally." "The Middle East's residential real estate sector presents a highly attractive investment opportunity, driven by the region's strong economic outlook and growing status as a hub for global wealth and talent," he stated. This new JV follows Lunate's March 2024 acquisition of a 24.5% equity interest in ICD Brookfield Place, a world-class commercial and retail property located in the Dubai International Financial Centre (DIFC). Jad Ellawn, Managing Partner and Regional Head, Middle East, Brookfield, said: "Our joint venture with Lunate is significant as we expand into the high-quality residential real estate sector, driven by a rising population seeking premium properties." "By combining our private equity operating expertise with our deep global real estate development and management experience, we are well-positioned to deliver best-in-class assets catering to this demand. This partnership underscores our commitment to creating long-term value for investors while catering to the evolving consumer preferences," he added. -TradeArabia News Service
New Straits Times
20-05-2025
- Business
- New Straits Times
Abu Dhabi's Lunate, Brookfield start US$1bil residential property venture
DUBAI: Abu Dhabi alternative investment manager Lunate is setting up a US$1 billion Middle East residential real estate joint venture with Brookfield, according to a statement on Tuesday. The venture will focus on "developing high-quality build-to-sell and opportunistic buy-to-sell residential assets" across the UAE, Saudi Arabia, and other markets in the Middle East, the statement said. It will also establish its own dedicated team to develop and manage these assets. Lunate, which has US$110 billion in assets under management, will commit a "significant" cornerstone investment to the venture, it said. The Abu Dhabi firm will also leverage its regional network and capabilities to help drive the venture's commercialization and fundraising efforts, it added. The deal follows Lunate's acquisition of a 24.5 per cent equity interest in ICD Brookfield Place, a flagship commercial tower in Dubai's financial center, in March 2024. The Gulf's business and tourism hub, Dubai has experienced a post-pandemic property boom, fuelled by foreign investment and government-led residency reforms. Residential real estate values in the emirate surged almost 70 per cent in the four years to December 2024, according to Knight Frank. Neighbouring Abu Dhabi has also seen demand from foreign buyers on the back of business activity from hedge funds, family offices and cryptocurrency firms.
The National
20-05-2025
- Business
- The National
Abu Dhabi's Lunate and Brookfield to set up $1bn property joint venture
Abu Dhabi alternative investment manager Lunate is partnering with New York Stock Exchange-listed Brookfield Asset Management to set up a $1 billion joint venture to invest in the real estate sector across the Middle East amid a strong performance of the property sector. The alliance will focus on developing build-to-sell and 'opportunistic' buy-to-sell residential assets across the UAE, Saudi Arabia and other markets in the Middle East, the two companies said in a statement on Tuesday. Lunate, which has more than $110 billion in assets under management, will commit a 'significant cornerstone investment' to the joint venture. It will also 'leverage its regional network and capabilities to help drive the joint venture's commercialisation and fund-raising efforts'. The announcement follows Lunate's acquisition of a 49 per cent stake in Dubai's 53-storey ICD Brookfield Place building last year. Saudi conglomerate Olayan Financing Company was also part of the deal. 'The Middle East's residential real estate sector presents a highly attractive investment opportunity, driven by the region's strong economic outlook and growing status as a hub for global wealth and talent,' Khalifa Al Suwaidi, managing partner at Lunate, said. There has been a boom in the property sector in some of the Middle East markets, including the UAE, on the back of government initiatives such as residency permits for retired and remote workers and strong economic growth, boosted by non-oil diversification and higher oil prices. The influx of wealthy people to the Emirates is also supporting the property market. Last year, 7,200 millionaires arrived in the UAE, building on an influx of 4,700 in 2023 and 5,200 in 2022, property consultancy Knight Frank said, quoting data from Henley & Partners. The total number of dollar millionaires in the UAE stood at 130,500 at the end of December, ranking the Emirates as the 14th-largest wealth market. Prime residential values in Dubai and Abu Dhabi, key focus markets for the joint venture, have increased by 18 per cent and 11.1 per cent, respectively, in 2024, the companies said. Saudi Arabia has also been recording higher property prices as economic growth continues, with apartment values in Riyadh climbing 75 per cent in the last four years, according to Knight Frank. 'Our joint venture with Lunate is significant as we expand into the high-quality residential real estate sector, driven by a rising population seeking premium properties,' Jad Ellawn, managing partner and regional head of Middle East at Brookfield, said. Brookfield has a strong presence across many sectors in the region, with $15 billion in managed assets across private equity, real estate and infrastructure. Global companies, including The Trump Organisation, are also expanding in the Gulf region. It has recently announced projects in the UAE, Saudi Arabia and Qatar in partnership with London-listed Dar Global.
