Brookfield Asset Management, through its Middle East private equity strategy, and Lunate, an Abu Dhabi-based global alternative investment manager with more than $110 billion in assets under management, have formed a joint venture to invest in the residential real estate sector in the Middle East.
The joint venture, with total projected equity of $1 billion, will focus on developing high-quality build-to-sell and opportunistic buy-to-sell residential assets across the UAE, Saudi Arabia, and other markets in the Middle East. Lunate will commit a significant cornerstone investment to the joint venture and will leverage its regional network and capabilities to help drive the joint venture’s commercialization and fundraising efforts. This is in line with its strategy to develop differentiated investment partnerships and vehicles targeting compelling opportunities in high-growth sectors.
The joint venture will establish its own dedicated team to develop and manage these a
