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Signature building sold in DIFC, Dubai

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Significant interest within regional and international property buyers

One of the world’s leading real estate investment and advisory firm today announced that it has advised the seller on the successful disposition of a large prime commercial property asset located within Dubai International Financial Centre in Dubai, UAE.

Legatum, a private investment group based in Dubai is the new owner of Precinct Building 6 at the Dubai International Financial Centre (DIFC). The nine-level building will be soon renamed Legatum Plaza. It is located in the prestigious Gate Precinct of the DIFC, and enjoys a unique position between the iconic DIFC Gate building and Emirates Towers. With Legatum enhancing its presence in the DIFC by relocating its Dubai office into two floors of the property, the 128,000 sq. ft. building will be fully occupied. Building 6 is now leased to global multinational firms such as UBS, Nomura, Rothschild & Clifford Chance.

Mark Stoleson, CEO of the Legatum Group, said, “As one of the first registrants in the DIFC when it was established in 2004, this investment is an expression of Legatum’s long-standing belief in the success of Dubai and the DIFC as a world-class home for international finance. This acquisition of Building 6 will provide Legatum with a new global headquarters in the finest location in Dubai’s Central Business District, which is increasingly recognised as a leading international financial centre, connecting East with West.”

Gaurav Shivpuri, Head of Capital Markets for Jones Lang LaSalle in MENA, who led the mandate, said “During the marketing campaign for this asset, we found significant interest within both regional and international property buyers. This corroborates that a strong interest exists for high quality, well located, income producing assets within Dubai. It also confirms that locations such as DIFC are high on property investors mind, given its legal and ownership statutes.”

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