Investment Corporation of Dubai funds around $1 billion in the property market
28/02/2013
As the Real Estate market in Dubai is now witnessing growth, it will possibly grow more when the fund worth of $1 billion from Investment Corporation of Dubai (ICD) – Brookfield Dubai Real Estate, which is an investment arm of Dubai Government that has been holding the so-called ‘stakes’ in more than 30 companies such as the builder of the tallest tower of the world, Emaar Properties; and the largest major airline in the Middle East region, Emirates Airlines, is once formed, for it will pursue some opportunities in the above-mentioned market that will particularly focus more on development opportunities.
Based on the report, such billions of fund was indeed made a few days ago with the co-promoters of the fund, including Douglas Kirkman, a Senior Vice-President of Brookfield Property Group as well as a Chief Executive Officer (CEO) of ICD-Brookfield Management Limited which will exclusively manage the aforementioned billions of fund.
Then, in fact, the company has reported in 2011 that it would seed the total of $1 billion fund with $100 million in capital; and eventually raise the funds from a select group of local, regional, and international property investors. After a year, the fund joined the DLD’s Tanmia Initiative which is objectively to finish all the qualified incomplete real estate projects in Dubai.
According to Khaled Al Bakhit, Chairman of ICD-Brookfield, he said that the management really believes that such initiative will probably promote an efficient collaboration between the department and interested investors in the Emirate’s property market and will boost its real estate investment decision making as well.
Based on the report, such billions of fund was indeed made a few days ago with the co-promoters of the fund, including Douglas Kirkman, a Senior Vice-President of Brookfield Property Group as well as a Chief Executive Officer (CEO) of ICD-Brookfield Management Limited which will exclusively manage the aforementioned billions of fund.
Then, in fact, the company has reported in 2011 that it would seed the total of $1 billion fund with $100 million in capital; and eventually raise the funds from a select group of local, regional, and international property investors. After a year, the fund joined the DLD’s Tanmia Initiative which is objectively to finish all the qualified incomplete real estate projects in Dubai.
According to Khaled Al Bakhit, Chairman of ICD-Brookfield, he said that the management really believes that such initiative will probably promote an efficient collaboration between the department and interested investors in the Emirate’s property market and will boost its real estate investment decision making as well.
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