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Dubai ready to launch $500 million property fund

Posted on 10 May 2013

A $500 million investment fund targeting distressed and stalled properties in Dubai should be operational by the end of the year, according to the fund’s chief executive.
Investment Corporation of Dubai (ICD), one of Dubai’s sovereign wealth funds, and Canada-based Brookfield Asset Management originally announced the formation of a $1 billion fund in 2011. The fund, described as the first of its kind to focus on Dubai, was promoted as a way to inject new liquidity into the market………………………………….Full Article: Source


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