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Invest AD and Brookfield in real estate joint venture

Asset managers will apply to establish a REIT under ADGM regulatory framework

Gulf News

Abu Dhabi: Abu Dhabi-based asset manager Invest AD and Brookfield Asset Management, a 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.

“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 Faras Al Ramahi, chief executive officer of Invest AD.