| Dubai’s sovereign wealth fund is to build a $1bn development in the heart of the emirate’s financial district, the first new construction project there since the real estate crash of 2008. The development, next to the core cluster of Dubai International Financial Centre buildings, is also the first project by a joint venture between Investment Corporation of Dubai and Brookfield, the Canadian asset manager.
ICD Brookfield Place is a vote of confidence from the government in continued growth in its financial centre amid increasing competition from neighbouring hubs, including a new free zone in the richer emirate of Abu Dhabi..............................................Full Article: Source
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