Dubai, UAE – Harish Fabiani, a prominent commercial, industrial, and retail real estate developer, and the visionary founder of Indialand Group, has announced the acquisition of the iconic Thuraya Telecommunications Tower in the heart of Barsha Heights, Dubai. The landmark 22-storey commercial building costs approximately AED 160 million in addition to more than AED 40 million expected to be invested in post-acquisition upgrades.

Strategically positioned just 500 meters from Dubai Internet City Metro Station, the tower spans a total built-up area of 348,000 square feet, with 143,000 square feet dedicated to premium office and retail spaces, complemented by 338 parking spaces. Barsha Heights, renowned for its vibrant mix of commercial, hospitality, and residential properties, is emerging as one of Dubai’s most sought-after business districts amidst a surge in demand for office spaces.

The Thuraya Telecommunications Tower was formerly owned by Thuraya Telecommunications Company P.S.C., a mobile-satellite service provider under Yahsat Space Services, Space42, the UAE-based AI-powered SpaceTech company with global reach.

Expanding Horizons in Dubai’s Real Estate Sector

This acquisition marks a significant milestone for Indialand Group. Under the leadership of Mr. Harish Fabiani, the group has established a robust portfolio encompassing office buildings, warehousing parks, special economic zones, and retail malls. Indialand is currently preparing to list its Indian real estate assets with a valuation exceeding USD 1 billion within the next 18 to 24 months.

Commenting on the acquisition, Mr. Fabiani stated, “With the addition of Thuraya Telecommunications Tower, our commercial assets portfolio in Dubai now surpasses AED 500 million. Over the next 12 to 18 months, we aim to double our portfolio to over AED 1 billion and take significant steps toward launching a commercial REIT listing in the UAE.”

About Indialand Group

Founded by Harish Fabiani, a Spanish-Indian entrepreneur with global interests in technology, media, real estate, and finance, Indialand Group has become a major player in the international real estate market. The company’s innovative vision and strategic investments continue to reshape the landscape of commercial real estate.