Invest AD and Brookfield Establish Real Estate Joint Venture
Joint venture to create institutional quality investment products comprising UAE real estate
Invest AD and Brookfield will apply to establish a REIT under ADGM regulatory framework
ABU DHABI, October 16, 2017 – Abu Dhabi based asset manager Invest AD and Brookfield Asset Management, a leading global alternative asset manager, have signed an agreement to establish a joint venture, with a view to creating institutional quality investment products comprising UAE real estate, including a real estate investment trust (REIT) under the regulatory framework of the Abu Dhabi Global Market (ADGM).
The agreement to form the joint venture was signed in Abu Dhabi by Invest AD CEO Mr. Faras Al Ramahi and Brookfield Asset Management Managing Partner Mr. Anuj Ranjan. The signing was attended by Brookfield Asset Management CEO Mr. Bruce Flatt and Invest AD Chairman Mr. Mohamed Al Dhaheri.
“The UAE real estate market has reached a level of maturity that requires the professional management of assets and supports the creation of investment vehicles that will be attractive to institutional and individual investors,” said Mr. Faras Al Ramahi, Chief Executive Officer of Invest AD.
“Invest AD’s partnership with Brookfield, one of the most respected names in global real estate, will help to deliver innovative and value enhancing real estate investment products. Through the REIT, which is just the first product that the joint venture is planning, we aim to build a portfolio of high quality assets and bring other property owners across the UAE into a successful partnership, while offering investors the benefits of liquid access to stable, income-generating commercial real estate.”
“We are pleased to partner with Invest AD to develop a compelling investment vehicle for investors seeking attractive yields through exposure to UAE’s growing, high quality real estate market,” said Mr. Anuj Ranjan, Managing Partner, Brookfield Asset Management. “Through this REIT, investors will have the opportunity to access a diversified portfolio of premier properties, managed by a team with an established track record for value creation in the sector.”
REITs have become increasingly popular globally in the low interest rate environment of recent years. They offer investors tradable units in real estate portfolios, with a high proportion of rental income passed through in the form of dividends. While generally less volatile than equities, REITs also hold out the prospect of capital gain in a rising real estate market.
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Brookfield Asset Management Inc. is a global alternative asset manager with over US$250 billion in assets under management. The company has more than a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York, Toronto and Euronext stock exchanges under the symbol BAM, BAM.A and BAMA, respectively.
For more information, please visit our website at www.brookfield.com.
About Invest AD
With over four decades of experience in regional markets, Invest AD provides institutional investor clients with advisory and asset management services and products across listed equities, fixed income, private equity, real estate and infrastructure.
For more information, please visit our website at www.investad.com.