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Dubai-based Driven | Forbes Global Properties has acquired two buildings in City Walk and Meydan for a combined 242.5 million UAE dirhams ($66.03 million) to expand its residential inventory.
The acquisition adds more than 106,000 square feet (sq ft) of residential inventory, bringing total assets under management to AED 2 billion ($544.59 million), the company said in a statement.
The seven-storey City Walk Building 18A was acquired for AED 181.5 million, while The Polo Residence Building A3, part of the Polo Residence community in Meydan, was purchased for AED 61 million.
Deputy CEO and Chief Commercial Officer Hadi Hamra said these acquisitions strengthen and diversify a portfolio designed to generate stable, long-term income while meeting genuine residential demand.
The company acquired the adjacent City Walk Building 17 in 2023 for AED 94 million and exited within a year at AED 122 million. Its Emaar Square Building 3, bought in late 2024 for AED 505 million, now has a valuation of AED 900 million, around 78 percent higher in 18 months.
In April 2026, Driven Properties sold 22 plots in Jumeirah 1 over 22 days for a combined AED 220 million, 85 percent above the 2024 acquisition price, the statement said.
(Writing by P Deol; Editing by Anoop Menon)
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