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Global real estate advisor CBRE has contracted the UAE’s Emirates Development Bank (EDB) to advise on the sale of its former office headquarters in Abu Dhabi and Dubai, as well as its residential portfolio in the UAE capital.
In its statement, CBRE said the first office component will be the former EDB headquarters building in Abu Dhabi’s Al Nahyan office complex.
Situated on a 9,000 sq ft plot spread over 6 floors, 2 of which are fully furnished and the remaining 4 are shell and core, it offers Grade A office space in the heart of the UAE capital.
The remainder of the Dubai office portfolio is the complete EDB building in the Deira City Center office district, offering 90,000 sq ft of 11-storey Grade A office space, it said.
According to CBRE, the building offers large floor slabs up to 10,500 square feet with an efficient layout and floor-to-ceiling windows, making it easy for larger tenants looking for entire floors or multiple contiguous floors.
Another office segment in Dubai includes the 4th floor of the EDB building in Al Garhoud, offering 45,000 sq. ft. of Grade A office space, a short distance from Dubai Festival City and Dubai International Airport.
EDB’s residential portfolio includes 191 apartment units at Al Maha Tower, located on the waterfront in the Marina Square district of Reem Island, Abu Dhabi.
The luxury development offers a mix of 1, 2, 3 and 4 bedroom ready-to-use apartments with excellent amenities, as well as a variety of retail and commercial outlets.
The commercial and residential assets will offer modern luxury living, as well as homes for leading corporations, in some of the UAE’s prime locations. It said CBRE had been appointed to provide exclusive sales and marketing advice throughout the process.
Esam Sultan, CBRE Dubai Residential UAE – Head of Advisory and Transactions, said: “We are delighted to be supporting EDB in the sale of a portfolio of its key commercial and residential assets in Dubai and Abu Dhabi.”
“Its former headquarters is a prominent landmark in a strategic location, with few prime office buildings in Dubai, and CBRE expects these properties to attract significant interest from regional and multinational corporations,” he added.
Copyright 2022 Al Hilal Publishing and Marketing Group, courtesy of SyndiGate Media Inc. (Syndigate.info).
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