SHUAA Capital to manage AED1.5bn tower in Dubai

Financial services firm, SHUAA Capital, announced that its real estate asset management division will be managing the development of a new mixed-use skyscraper on Sheikh Zayed Road, Dubai.

The project, details of which will be unveiled at next week’s Cityscape Global Conference and Exhibition in Dubai, is intended to serve the ever-growing demand in the UAE’s residential, tourism and hospitality sectors. SHUAA’s real estate specialised asset management division currently manages assets in excess of AED3bn spread across both the UAE and Saudi markets.

Talking briefly on the occasion, Fawad Tariq-Khan, general manager of SHUAA Capital said: “SHUAA’s real estate business line has proven expertise and a strong track record in developing projects, managing funds, and forming business alliances, both in the UAE and Saudi markets. We intend to utilise this strength to the fullest as we continue to roll-out our expansion plans. This project is set to complement Sheikh Zayed Road’s picturesque skyline, and we look forward to the official unveiling at Cityscape Global.”