Dubai's Neo Capital boosts portfolio with acquisition of $73mln US property

New asset to provide Gulf investors a chance to diversify investment portfolios 

  
Dubai Marina skyline,UAE. Image used for illustrative purpose.

Dubai Marina skyline,UAE. Image used for illustrative purpose.

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Dubai-based asset management firm Neo Capital said on Tuesday that it has strengthened its global portfolio with the acquisition of a $73-million property in Stamford, United States.

Harbor Landing, a Class A multi-family five-storey asset that sits on nearly three acres of waterfront property, has been secured in partnership with US-based Monday Properties.

It features studio, one- and two-bedroom apartments with high-quality finishes and provides an attractive option for New York commuters.

“Harbor Landing is a strategic investment for Neo Capital which provides access to one of the best multi-family markets in the United States,” said Deborah Watt, head of real estate investments at Neo Capital. 

In 2020, Neo Capital made acquisitions in Arlington Virginia and the Netherlands.  

The latest asset is expected to provide investors in the UAE and Gulf region a chance to diversify their investment portfolios in a highly resilient growth market. 

“The property was acquired at a very competitive rate per square foot given prevailing real estate prices in the area,” said Watt. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@refinitiv.com

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