Dubai: Brookfield together with Alshaya Group today announced a joint venture (JV) to develop a 480,000-square-foot mixed-use asset in the heart of Dubai Hills.

The development will feature Grade A office spaces, build-to-rent residential, and retail offerings.  Upon completion, Alshaya Group will also establish its new UAE office on the premises and include retail space showcasing some of Alshaya’s leading brands. The project caters to the growing demand for lifestyle-oriented mixed-use environments in one of Dubai’s most dynamic districts. The site benefits from a prime location near Dubai Hills Mall, King’s College Hospital, the Dubai Hills Golf Club, and established residential neighborhoods, making it a focal point in the community.

John Hadden, CEO at Alshaya Group said: “We are excited to announce the joint venture with Brookfield, as we continue to build our presence in the UAE with a new Regional Office in Dubai Hills, which will provide a fantastic environment for our colleagues and allow us to showcase our brands.  Since our first store over 40 years ago, we remain committed to the UAE and look forward to developing this impressive, high-quality project providing retail, office and residential spaces with such a renowned name in the industry.”

Jad Ellawn, Managing Partner and Regional Head, Middle East, Brookfield, said: “Our partnership with Alshaya reflects our conviction in the long-term fundamentals of the region and the opportunity to deploy our development and operating expertise to create high-quality real estate. With Dubai’s dynamic growth, evolving demographics, and increasing demand for integrated living and working environments, this project capitalizes and delivers on this opportunity.”

Brookfield Properties will serve as development and real estate manager for the JV, leveraging its global development expertise and deep operational capabilities.

Brookfield has a long-established presence in the region, managing approximately $16 billion in assets across private equity, real estate, and infrastructure. One of the world’s largest real estate owners and operators, Brookfield has built a high-quality portfolio of office and retail assets across the UAE which also include some of Dubai’s most prominent lifestyle destinations. This project reflects its continued commitment to investing in the region’s long-term growth.

Alshaya Group opened its first store in UAE in 1985 and now has over 700, recently introducing Primark and Ulta Beauty to Dubai in recent weeks.  

About Brookfield

Brookfield is a leading global investment firm with more than $1 trillion in assets under management that owns and operates real assets and essential service businesses that form the backbone of the global economy. We invest on behalf of institutions and individuals around the world across infrastructure, renewable power and transition, private equity, real estate, and credit—sectors critical to supporting economic growth and productivity. With a heritage spanning more than a century and operations in over 30 countries, we deploy long-term, patient capital to build the foundational assets and businesses that power a more connected, resilient, and sustainable future—seeking to build long-term wealth for our clients while delivering strong risk-adjusted returns for our shareholders.

For more information, please visit our website at www.brookfield.com

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Shveta Singh
Email: shveta.singh@brookfield.com

About Alshaya Group

Alshaya Group is a dynamic family-owned business, first established in Kuwait in 1890. With a consistent record of growth and innovation, Alshaya Group is one of the world’s leading brand franchise operators, offering an unparalleled choice of over 50 well-loved, international brands to customers.  

Alshaya Group’s portfolio extends across the Middle East and North Africa (MENA), Türkiye and Europe, with over 3,500 stores, cafes, restaurants, and leisure destinations, major logistics and food production operations, as well as over 125 online and digital businesses including one of the region’s biggest retail loyalty programmes, Aura.      

Operating in multiple sectors including Fashion, Food, Health & Beauty, Pharmacy, and Hospitality & Entertainment, over 50,000 Alshaya colleagues are united by a commitment to authentically deliver great customer service and brand experiences.   

From flagship stores and restaurants in prestige malls, through to local coffee shops, drive-thrus and online, Alshaya Group brings customers the experiences they want with the brands they love, in the ways they choose - including Starbucks, American Eagle, Footlocker, Victoria’s Secret, H&M, Bath & Body Works, Charlotte Tilbury, Raising Cane’s, Shake Shack, Chipotle, Primark, and Ulta Beauty.

Learn more about Alshaya Group at www.alshaya.com