Saturday 19 October 2019

ICD Brookfield inks lease deal for prime Dubai property

DUBAI, June 24, 2019

UAE-based ICD Brookfield has signed pre-let agreements with Julius Baer, the leading Swiss wealth management group, Natixis, the international corporate and investment banking, asset management, insurance and financial services company, and a global law firm for a total area of 55,000 sq ft  in Dubai.

ICD Brookfield is a joint venture between Investment Corporation of Dubai (ICD), the principal investment arm of Dubai government, and Brookfield Property Partners, the flagship commercial real estate company of Brookfield Asset Management, a global alternative asset manager with over $365 billion in AUM (assets under management).

These agreements follow a strong track record of leasing successes for ICD Brookfield.

In total, over 250,000 sq ft of office and retail space has been pre-let at the development, including last year’s announcements with the exclusive private members club, The Arts Club and global professional services firm, Ernst & Young (EY).

ICD Brookfield Place is a 1.1 million sq ft commercial development, designed by world-renowned architects Foster & Partners, scheduled for completion in 2019.

The property will be managed by Brookfield Properties and includes 990,000 sq ft of Grade A office space alongside 140,000 sq ft of retail space.

Located in the Dubai International Financial Centre (DIFC) and directly connected to the Gate Avenue, ICD Brookfield Place will become one of the most prominent office towers in Dubai and will establish a new benchmark in commercial development for the region.

"As ICD Brookfield Place offers efficient and flexible workspaces as well as a wide array of well-curated retail experiences and amenities, it is a premier address for global industry leaders," said Rob Devereux, CEO of ICD Brookfield.

“We are pleased to welcome three of the world’s largest financial and professional services companies, to the development,” he stated.

Régis Burger, the CEO of Julius Baer (Middle East), said: "Dubai is the hub for the growing emerging markets at Julius Baer. Since we have established our presence in the DIFC, operating with the first licence delivered 15 years ago, we have focused on providing world-class wealth management services to our sophisticated private clients."

"Our presence in the DIFC offers us great connectivity, the right infrastructure, and resources to realise our growth aspirations," stated Burger.

"As we continue to grow our business here and across the Middle East, it is only logical to bolster our presence in this leading financial centre by relocating to such a prominent address to support our long-term vision for this market," he added.-TradeArabia News Service


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