{"id":116813,"date":"2026-05-08T00:00:00","date_gmt":"2026-05-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=116813"},"modified":"2026-05-08T02:54:04","modified_gmt":"2026-05-08T02:54:04","slug":"brookfield-and-alshaya-team-up-on-dubai-hills-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/05\/08\/brookfield-and-alshaya-team-up-on-dubai-hills-project\/","title":{"rendered":"Brookfield and Alshaya team up on Dubai Hills project"},"content":{"rendered":"

\u2026and they\u2019re coming for UAE property:<\/strong> Canadian alternative asset manager Brookfield just made another investment in the UAE\u2019s property sector, and it couldn\u2019t have come at a more critical time. While preliminary data has indicated that the market is still holding its ground, the wait-and-see phase is still seeing activity ease, and the major concern has been whether foreign investors still want to put their money in assets in the region, despite the geopolitical risk. <\/p>\n

Brookfield has been an active player in the UAE for a few years now<\/strong>, with projects including a nine-tower beachfront development<\/a>, which it\u2019s developing through a joint venture with Dubai Holding and the ICD Brookfield Place. Last year it set up a USD 1 bn JV<\/a> with asset manager Lunate focused on residential real estate in the Middle East. <\/p>\n

Now it\u2019s teaming up with<\/strong> Kuwait-founded retail franchise operator Alshaya Group on a 480k sq ft mixed-use development in Dubai Hills<\/strong>, which is set to include Grade A offices, build-to-rent housing, and retail space, according to a press release<\/a>. <\/p>\n

The project has been <\/strong>on Brookfield\u2019s radar<\/a><\/strong> for a while<\/strong>, and the fact that the transaction went through months into the war is a great signal for the sector. Aside from Brookfield, plenty of foreign firms are pushing ahead with expansion plans and investments in the UAE, with asset managers like Citadel and Hillhouse<\/a> planning ADGM offices \u2014 but this is the first direct foreign investment in Dubai real estate since the war began. <\/p>\n

Who\u2019s doing what? <\/strong>Brookfield Properties will act as development and real estate manager, while Alshaya will anchor part of the site as its new UAE office and integrate some of its brands into the retail spaces.<\/p>\n","protected":false},"excerpt":{"rendered":"

Brookfield and Alshaya are developing a mixed-use project in Dubai Hills<\/p>\n","protected":false},"author":1,"featured_media":116814,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1565],"tags":[685,7,25,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-116813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-brookfield","tag-enterpriseam-uae","tag-investment-watch","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"26bba89a-2bd1-48ef-b1ca-fe237d663d96","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/5\/384.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A big vote of confidence in Dubai\u2019s property market","related_issue":[116803],"teaser":"Brookfield and Alshaya are developing a mixed-use project in Dubai Hills"},"yoast_head":"\nBrookfield and Alshaya team up on Dubai Hills project - 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