Dubai's real estate market, which is witnessing a resurgence this year, will get another major shot in the arm when the $1-billion Investment Corporation of Dubai (ICD)-Brookfield Dubai Real Estate Fund gets underway.
A move to start the fund was made on Wednesday with ICD and Brookfield Asset Management, the co-promoters of the fund, named Douglas Kirkman, Senior Vice-President of the Brookfield Property Group, as Chief Executive Officer of ICD-Brookfield Management Limited, the firm that will manage the fund.
"The fund, once formed, will pursue opportunities in the Dubai real estate sector with a particular focus on development opportunities," the companies said.
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