Brookfield and Lunate Launch USD 1 Billion Real Estate Joint Venture in the Middle East

Middle East: Brookfield Asset Management and Abu Dhabi-based alternative investment firm Lunate have launched a USD 1 billion joint venture to invest in the Middle East’s residential real estate market, with a primary focus on the UAE and Saudi Arabia. 

The partnership will develop premium build-to-sell and opportunistic buy-to-sell residential properties, leveraging strong economic growth, rising population, and increasing demand for upscale housing in the region. The JV brings together Lunate’s regional fundraising strength and local network with Brookfield’s global expertise in real estate development and private equity. 

A dedicated in-house team will be formed to oversee a robust pipeline of residential projects. Dubai and Abu Dhabi are among the key target markets, both showing notable growth in prime residential values, Dubai by 18% and Abu Dhabi by 11.1% in 2024, according to recent market reports. Brookfield currently oversees around USD 15 billion in regional assets, spanning real estate, infrastructure, and private equity. 

Source: Construction Week Online