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Shuaa Capital to manage development of $408m skyscraper in Dubai

Shuaa Capital has announced that its asset management arm will manage the development of a $408m skyscraper on Dubai’s Sheikh Zayed Road

Fawad Tariq-Khan (above) says that the project will complement Sheikh Zayed Road’s skyline.
Fawad Tariq-Khan (above) says that the project will complement Sheikh Zayed Road’s skyline.

Shuaa Capital has announced that its real estate asset management division will manage the development of a $408m (AED1.5bn) skyscraper on Dubai’s Sheikh Zayed Road.

The project, further details of which will be revealed at Cityscape Global 2017, has been designed to meet demand within the residential, tourism, and hospitality segments.

Commenting in a missive issued to Dubai Financial Market (DFM), Fawad Tariq-Khan, Shuaa’s general manager, said that the structure would be in keeping with the aesthetics of Dubai’s main highway.

“This project is set to complement Sheikh Zayed Road’s picturesque skyline, and we look forward to the official unveiling at Cityscape,” he 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,” Tariq-Khan added. “We intend to utilise this strength to the fullest as we continue to roll-out our expansion plans.”

Shuaa’s real estate asset management division currently manages assets in excess of $817m (AED3bn) in the UAE and Saudi Arabian markets.

Cityscape Global 2017 will take place at Dubai World Trade Centre (DWTC) from 11-13 September.

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Construction Week - Issue 754
Nov 23, 2019