Shuaa to manage $408m Dubai tower project

Shuaa Capital, a premier financial services company in the UAE, said its real estate asset management unit has been signed up to manage the development of a Dh1.5-billion ($408 million) mixed-use skyscraper on Sheikh Zayed Road in Dubai. The project, details of which will be unveiled at the upcoming Cityscape Global Conference and Exhibition in Dubai, is intended to serve the ever-growing demand in the UAE’s residential, tourism and hospitality sectors, said a statement from the company. Shuaa’s real estate specialised asset management division currently manages assets in excess of Dh3 billion ($816 million) spread across both the UAE and Saudi markets. On the contract win, Fawad Tariq Khan, the general manager of Shuaa Capital said: "Our 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,"