Meraas Holding (\u201cMeraas\u201d) is pleased to announce that it has entered a long-term strategic partnership with Brookfield Asset Management (\u201cBrookfield\u201d) to jointly own and operate a retail-focused real estate platform in the UAE with a mandate to explore growth opportunities in the retail sector across the GCC region.<\/p>\n
This transaction represents a significant investment in the region for Brookfield and its debut investment in the retail sector. The partnership is a notable success for the Emirate in connection with Dubai\u2019s Strategic Vision Plan 2021 and associated government initiatives aimed at promoting Dubai as a global business hub that attracts foreign direct investment.<\/p>\n
Meraas is recognised as Dubai\u2019s premier developer and operator of lifestyle destinations with a unique portfolio of properties combining the natural environment, design-led aesthetics, and relentless focus on customer experience.<\/p>\n
The partnership aims to leverage Meraas\u2019 regional brand recognition and experience in curating lifestyle-focused mixed-used developments together with Brookfield\u2019s deep retail experience and extensive global relationships with brand partners and retailers. The platform shall further benefit from Brookfield\u2019s global insights and best-in-class retail operating models to drive efficiencies and synergies.<\/p>\n
Looking forward, the joint venture will seek to leverage its platform capabilities to source and execute retail-orientated opportunities across the region including expansion into high growth markets.<\/p>\n
Meraas Group Chairman, His Excellency Abdulla Al Habbai, commented on the announcement, \u201cWe are delighted to form this partnership with a leading asset manager such as Brookfield. We hope this is the start of a fruitful relationship that will contribute to delivering on the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the world\u2019s leading investment destination whilst driving differentiation and innovation in the retail sector.\u201d<\/p>\n
Brookfield is one of the world\u2019s largest investors in real estate with deep-rooted expertise across both developed and emerging markets.<\/p>\n
Brian Kingston, Chief Executive Officer of Brookfield Property Group, said, \u201cMeraas\u2019 high quality lifestyle assets combined with Brookfield\u2019s global relationships and execution capabilities will create a best-in-class portfolio for tenants. We believe in the future of the Dubai real estate market and look forward to working together with Meraas to create the leading retail player in the regional market while also exploring value creation opportunities throughout the assets.”<\/p>\n
The partnership will help reinforce Dubai as a premium retail destination and is yet another signal of confidence in its future prospects by the global investment community.<\/p>\n","protected":false},"excerpt":{"rendered":"
Meraas Holding (\u201cMeraas\u201d) is pleased to announce that it has entered a long-term strategic partnership with Brookfield Asset Management (\u201cBrookfield\u201d) to jointly own and operate a retail-focused real estate platform in the UAE with a mandate to explore growth opportunities in the retail sector across the GCC region. This transaction represents a significant investment in […]<\/p>\n","protected":false},"author":1,"featured_media":22698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/22697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/comments?post=22697"}],"version-history":[{"count":1,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/22697\/revisions"}],"predecessor-version":[{"id":22699,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/22697\/revisions\/22699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media\/22698"}],"wp:attachment":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media?parent=22697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/categories?post=22697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/tags?post=22697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}