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Dubai launches $1bln property fund

Posted on 27 October 2011

Dubai’s investment arm has teamed up with one of the world’s biggest asset managers to create a US$1 billion (Dh3.67bn) property fund. The fund is the first “Dubai-only” property investment vehicle, according to a statement from Dubai’s official media office.
It is to be seeded initially with $200 million - $100m each from Investment Corporation of Dubai (ICD) and the Toronto-based Brookfield Asset Management, a global alternative asset manager overseeing $150bn. Brookfield has an office in Dubai………………………………………..Full Article: Source


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