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ADQ, Abu Dhabi’s wholly owned strategic investment company, is considering joining a list a of bidders vying for a stake in Dubai’s ICD Brookfield Place.
The Abu Dhabi-based wealth fund is vying for a minority stake in Dubai’s largest office tower, according to Bloomberg, citing people familiar with the matter.
ADQ, which saw its portfolio jump to $200 billion in Q4 last year, according to Global SWF, is currently in private talks to buy into the commercial tower, Bloomberg added.
Located in the heart of Dubai’s DIFC financial hub, the $1 billion ICD Brookfield Place is owned by Brookfield Asset Management and the state-owned Investment Corporation of Dubai. According to Bloomberg, the owners are looking to sell a stake of as much as 49% and have drawn interest from bidders, including China Investment Corporation and Malaysia’s KLCC Property Holdings Bhd.
(Writing by Bindu Rai, editing by Brinda Darasha)
