10.05.2013 - Dubai eyes $500mln distressed property fund by end-2013
Investment Corporation of Dubai (ICD), the emirate’s sovereign wealth fund, and Canada’s Brookfield Asset Management expect to secure the $500m in financing needed to launch a real estate fund to help recapitalise stalled or semi-complete projects in Dubai by the end of 2013. “Right now we are dealing with the licence at the DIFC [Dubai International Financial Centre]... If you mean launch as in active marketing and legally able to do it, we will hit that point right before Ramadan,” Douglas Kirkman, CEO of ICD-Brookfield Management Limited and manager of the ICD-Brookfield Dubai Real Estate Fund, said.......................................Full Article: Source
Print