Real Estate

Real Estate Transactions

Avighna buys Dubai commercial property from Bank Muscat’s fund for Rs.555-Cr

Economic Times  

Real estate developer Avighna Group has acquired a multi-tenanted commercial property in Dubai from Bank Muscat’s Izdihar Real Estate Fund through its UAE arm, Avighna Invest, for INR 555 crore. This acquisition marks Avighna Group's entry into the Gulf Cooperation Council, a group of six countries in the Middle East.Emaar Business Park-Building 3, a grade A commercial tower on prime Sheikh Zayed Road, has 150,000 sq ft of office and retail spaces across ground plus six storey structure, leased to leading multinational and regional companies. The property’s current occupancy level is 90% with tenants such as Standard Chartered, Mirage Leisure & Development, Hamptons, Bates Pan Gulf, Injaz Real Estate Trustee, Godiva and Starbucks.