Avighna Group buys Emaar Business Park in Dubai for Rs 5.55 billion
Real Estate

Avighna Group buys Emaar Business Park in Dubai for Rs 5.55 billion

Real estate developer Avighna Group has acquired Emaar Business Park, Building 3, a multi-tenanted commercial property in Dubai, from Bank Muscat’s Izdihar Real Estate Fund through its UAE arm, Avighna Invest, for Rs 5.55 billion. The Grade A commercial tower, located on the prime Sheikh Zayed Road, offers a total of 150,000 sq ft of office and retail spaces across a ground plus six-storey structure, leased to leading multinational and regional companies.

This acquisition marks Avighna Group’s entry into the real estate segment catering to global capability centres, a growing sector driven by the demand from multinational corporations establishing operational hubs. Izdihar Real Estate Fund had purchased the property from its developer, Emaar, in September 2019.

Nishant Agarwal, the Managing Director of Avighna Group, stated that acquiring Emaar Business Park – Building 3 is a strategic move aligned with the group’s vision to expand its global real estate holdings. He emphasized that the property’s prime location, exceptional design, and blue-chip tenants make it an invaluable addition to their portfolio. Avighna Group, which has been present in diversified businesses in the UAE since 1988, sees this as a major step forward.

The property currently enjoys an occupancy level of 90 per cent, with key tenants including Standard Chartered, Mirage Leisure & Development, Hamptons, Bates Pan Gulf, Injaz Real Estate Trustee, Godiva, and Starbucks. Situated in The Greens at Emirates Living, the property is conveniently located near Dubai Internet City, Media City, Palm Jumeirah, and Dubai Marina.

Agarwal also mentioned that the company intends to actively explore new development opportunities in the UAE. He noted that the group, which has been established in the UAE for over 36 years, has witnessed Dubai’s remarkable growth, driven by its leadership and pro-business environment.

Real estate developer Avighna Group has acquired Emaar Business Park, Building 3, a multi-tenanted commercial property in Dubai, from Bank Muscat’s Izdihar Real Estate Fund through its UAE arm, Avighna Invest, for Rs 5.55 billion. The Grade A commercial tower, located on the prime Sheikh Zayed Road, offers a total of 150,000 sq ft of office and retail spaces across a ground plus six-storey structure, leased to leading multinational and regional companies. This acquisition marks Avighna Group’s entry into the real estate segment catering to global capability centres, a growing sector driven by the demand from multinational corporations establishing operational hubs. Izdihar Real Estate Fund had purchased the property from its developer, Emaar, in September 2019. Nishant Agarwal, the Managing Director of Avighna Group, stated that acquiring Emaar Business Park – Building 3 is a strategic move aligned with the group’s vision to expand its global real estate holdings. He emphasized that the property’s prime location, exceptional design, and blue-chip tenants make it an invaluable addition to their portfolio. Avighna Group, which has been present in diversified businesses in the UAE since 1988, sees this as a major step forward. The property currently enjoys an occupancy level of 90 per cent, with key tenants including Standard Chartered, Mirage Leisure & Development, Hamptons, Bates Pan Gulf, Injaz Real Estate Trustee, Godiva, and Starbucks. Situated in The Greens at Emirates Living, the property is conveniently located near Dubai Internet City, Media City, Palm Jumeirah, and Dubai Marina. Agarwal also mentioned that the company intends to actively explore new development opportunities in the UAE. He noted that the group, which has been established in the UAE for over 36 years, has witnessed Dubai’s remarkable growth, driven by its leadership and pro-business environment.

Next Story
Resources

CRISIL Upgrades DCCDL’s Rating to AAA (Stable)

CRISIL Ratings has upgraded DLF Cyber City Developers (DCCDL) to CRISIL AAA (Stable) from CRISIL AA+ (Stable), citing sustained strong business fundamentals, high occupancy, and an improving financial risk profile.Sriram Khattar, Vice Chairman & Managing Director, DCCDL, said, “This milestone reflects our commitment to maintaining the highest standards of corporate governance and financial discipline whilst ensuring that our assets meet global benchmarks suitable for our tenant partners.”DCCDL operates a commercial real estate portfolio of 40.4 million square feet (msf), with a 93 per ..

Next Story
Real Estate

New Housing Supply Drops 34% in India’s Top-9 Cities

India’s residential real estate market experienced a 34% decline in new housing supply during the January-March 2025 period, with only 80,774 units launched, compared to 1,22,365 units in the same period last year, according to data from PropEquity.Among the top nine cities, Bengaluru was the only market to record an increase, with new housing supply rising 17% to 20,227 units, up from 17,303 in the year-ago period. In contrast, other major cities witnessed a significant decline. Chennai saw a 46% drop to 3,946 units, while Hyderabad recorded a 38% decline to 8,773 units. Kolkata was among t..

Next Story
Infrastructure Transport

TBM ‘Parvati’ Begins Tunneling on Kanpur Metro Line 2

The Kanpur Metro Project has reached another milestone as Kalpataru Projects International Ltd. (KPIL) – Gulermak JV deployed its third Tunnel Boring Machine (TBM) ""Parvati"" at Rawatpur Station for Line 2. This 8.38 km corridor stretches from Agriculture University to Barra-8.About TBM ParvatiTBM Type: Herrenknecht Earth Pressure Balance (EPB) Machine (Refurbished, Ø6.5m) 7th TBM commissioned for Kanpur Metro Phase 1 3rd TBM for Package KNPCC-11, following TBMs Gomati (S-1408A) and Saraswati (S-839C)Tunneling Assignments First Task: Construct a 750m tunnel for the upline fr..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?