Abu Dhabi:- Global real estate advisor, CBRE, has been exclusively appointed by the UAE’s development bank, Emirates Development Bank (EDB), to advise on the sale of their former UAE office headquarters in Abu Dhabi and Dubai, as well as their residential portfolio in Abu Dhabi.
The first office component is the former EDB headquarter building located in the Al Nahyan office district in Abu Dhabi. It sits on a 9,000 sq. ft plot arranged over 6 floors, of which 2 are fully fitted and the remaining 4 are shell and core, providing A Grade office space in a central location in the UAE capital city.
The remaining office component of the portfolio in Dubai is the full EDB building located in Deira City Centre’s office precinct, providing 90,000 sq. ft. of Grade A office space across 11 floors. The building offers large floor plates of up to 10,500 sq. ft. with efficient layouts and floor to ceiling windows, convenient for large occupiers looking for full or multiple consecutive floors. The other office component in Dubai comprises of 4 floors in the EDB building located in Al Garhoud, providing 45,000 sq. ft. of Grade A office space within close distance of Dubai Festival City and Dubai International Airport.
EDB’s residential portfolio is composed of 191 residential apartments units in Al Maha Tower located on the waterfront, in the Marina Square district of Abu Dhabi’s Reem Island. The luxury development offers a unit mix of 1,2, 3 & 4 bedroom ready apartments with exceptional facilities, complete with various retail and commercial outlets.
The commercial and residential assets will offer modern luxury living, as well as a home for leading businesses, in some of the UAE’s prime locations. CBRE has been appointed to provide exclusive sales & marketing advice throughout the duration of the process.
Esam Sultan, Head of Residential UAE – Advisory & Transactions at CBRE in Dubai, comments: “We are excited to support EDB with the sale of a selection of its key commercial and residential assets across Dubai and Abu Dhabi. Its former headquarters are well-known landmarks in strategic locations and with very few prime office buildings available in Dubai, CBRE anticipates that the properties will attract the interest of a great mix of regional and multi-national parties.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.