Dubai, UAE – Izdihar Real Estate Fund (Izdihar) has successfully concluded the sale of Emaar Business Park – Building 3, a premier Grade-A commercial property located on Sheikh Zayed Road, for AED 233 million. The fund is managed by Oman headquartered Bank Muscat, and the subject sale represents the first exit for the fund within the UAE.
 
The landmark transaction was structured by the leading property consultancy, Knight Frank MENA, acting exclusively on behalf of Izdihar. The iconic property was bought by UAE-based Avighna Group and represents one of the few freehold buildings ever to be sold along the iconic Sheikh Zayed Road.
 
Situated in The Greens at Emirates Living, Emaar Business Park – Building 3 is a G+6 property featuring a distinctive granite-and-glass façade and offering approximately 150,000 sq. ft. of premium commercial and retail space. The building is fully tenanted by leading multinational and regional corporations, leveraging its strategic location near Dubai Internet City, Media City, Palm Jumeirah, and Dubai Marina, as well as excellent metro and road connectivity.
Having acquired the building in 2019, this exit marks another milestone in Izdihar’s track record of delivering superior returns to its investors while maintaining a diversified portfolio of commercial and residential properties across the region.
The sale was institutionally run on behalf of Izdihar by the Knight Frank MENA Capital Markets team.
 
Andrew Love, Regional Partner – Head of Capital Markets, Knight Frank MENA, commented “given the short supply of single owned office assets in the market, there is rising demand for good quality office buildings among institutional and private buyers.”
 
Abhishek Segal, Partner – Capital Markets, Knight Frank MENA, added, ‘the successful completion of the transaction is another testament to Knight Frank’s capabilities given the complex lease structure which needed to be re-calibrated in line with market.’
 
The successful sale of Emaar Business Park – Building 3 reaffirms Dubai’s standing as a premier destination for premium real estate investment and highlights Izdihar Real Estate Fund’s expertise in managing and divesting high-value assets. 
      
About Knight Frank:
 
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, the Knight Frank network has 600+ offices across 50+
territories and more than 20,000 people. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.
 
In the MENA region, we have strategically positioned offices in key countries such as the United Arab Emirates, Saudi Arabia, Bahrain, Qatar, and Egypt. For the past 16 years, we have been offering integrated residential and commercial real estate services, including transactional support, consultancy, and management.
 
Understanding the unique intricacies of local markets is at the core of what we do, we blend this understanding with our global resources to provide you with tailored solutions that meet your specific needs. At Knight Frank, excellence, innovation, and a genuine focus on our clients drive everything we do. We are not just consultants; we are trusted partners in property ready to support you on your real estate journey, no matter the scale of your endeavour.
 
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