Invest AD and Brookfield establish real estate joint venture

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 Faras Al Ramahi and Brookfield Asset Management Managing Partner Anuj Ranjan. The signing was attended by Brookfield Asset Management CEO Bruce Flatt and Invest AD Chairman 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 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 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."