Dubai – Mubasher: SHUAA Capital said that its real estate asset management division will operate the development of a new mixed-use skyscraper on Sheikh Zayed Road in Dubai worth AED 1.5 billion.
The details of this new project will be disclosed at Cityscape Global 2017, which will be held next week in Dubai, according to a bourse statement issued on Tuesday.
SHUAA noted that this project is expected to serve the ever-growing demand on the UAE’s residential, tourism, and hospitality sectors.
SHUAA’s asset management division currently manages assets worth AED 3 billion across both the Emirati and Saudi markets, the company said.
At the stock level, SHUAA closed Tuesday’s session 1.6% lower at AED 1.19.
