Avighna acquires Dubai’s Emaar Business Park 3 for Rs 555-crore 

Mumbai, November 25, 2024: Real-estate developer Avighna Group has completed the acquisition of Emaar Business Park–Building 3 in Dubai through its UAE arm Avighna Invest. The multi-tenanted Grade-A commercial building on the arterial Sheikh Zayed Road has been acquired for AED 240 million (Rs 555 cr approx), informs a press release issued by the company. The property was held by Bank Muscat’s Izdihar Real Estate Fund. 

Located in The Greens at Emirates Living, the G+6 property offers approximately 150,000 sq. ft. of commercial and retail spaces, leased to leading multinational and regional companies. 

Nishant Agarwal, Managing Director of Avighna Group, which has a presence in diversified businesses in UAE since 1988, said: “The acquisition of Emaar Business Park – Building 3 is a strategic step aligned with our vision to expand our real estate holdings globally. The property’s prime location, its exceptional design, and blue-chip tenants make it an invaluable addition to our portfolio.” Dubai-based Banke International Properties, which has a dedicated office in Mumbai, acted as advisors to Avighna Group for the transaction.

Porush Jhunjhunwala, CEO of Banke International Properties said, “This transaction reflects the confidence investors have in Dubai’s thriving property market and underscores Dubai’s position as a global hub for premium real estate investment. The city’s growing demand for Grade-A commercial spaces is driven by its robust economy, business-friendly environment, and a vision for sustainable growth,” adding that the firm’s suite of services includes transaction advisory, brokerage, property management, and leasing services.