Avighna Group Acquires Emaar Business Park in Dubai
Avighna Group, a leading name in real estate development, has made a significant move by acquiring Building 3 of Emaar Business Park in Dubai. The deal, valued at INR 555 crore, was facilitated through its UAE-based subsidiary, Avighna Invest, and marks a milestone in the company’s global expansion journey.
Situated on the prestigious Sheikh Zayed Road, this Grade A commercial property spans 150,000 square feet of office and retail space across six stories. The building is already a hub for prominent multinational and regional businesses, with an impressive 90% occupancy rate. Tenants include renowned names such as Standard Chartered, Starbucks, Godiva, and Mirage Leisure & Development.
This acquisition represents Avighna Group’s first venture into the global capability center sector, a growing niche driven by international corporations establishing operational hubs. The property, previously owned by Bank Muscat’s Izdihar Real Estate Fund, was originally developed by Emaar in 2019.
Strategic Expansion into Dubai’s Thriving Market
Nishant Agarwal, Managing Director of Avighna Group, emphasized the strategic importance of this acquisition. He highlighted the property’s prime location, modern design, and high-profile tenants as key assets that align perfectly with the group’s vision for international growth.
Located in The Greens at Emirates Living, Emaar Business Park enjoys excellent connectivity to Dubai’s business hubs, including Dubai Internet City, Media City, Palm Jumeirah, and Dubai Marina. Agarwal further expressed the group’s plans to explore new development opportunities in Dubai, a city renowned for its pro-business environment and visionary leadership.
Avighna Group’s Expanding Global Footprint
Known for its landmark projects in India, such as the iconic One Avighna Park in Mumbai, Avighna Group is now setting its sights on international markets, including the UAE, UK, and Europe. In Mumbai, the group is undertaking ambitious developments, including luxury residential projects in the upscale Worli locality and the city’s first cluster redevelopment initiative.
The acquisition of Emaar Business Park underscores Avighna Group’s confidence in Dubai’s flourishing real estate market. Dubai continues to attract global investors, thanks to its strategic location, world-class infrastructure, and reputation as a regional business hub.
Expert Insights on Dubai’s Commercial Real Estate
Porush Jhunjhunwala, CEO of Banke International Properties, who advised on the acquisition, commented on Dubai’s growing appeal as a global investment destination. He noted that the city’s commercial real estate sector stands out for its high-quality office spaces and mixed-use developments that cater to corporations, startups, and regional enterprises alike.
This acquisition not only strengthens Avighna Group’s portfolio but also reinforces its commitment to expanding internationally. With Dubai’s real estate market showing no signs of slowing down, Avighna Group is poised to capitalize on emerging opportunities, paving the way for future global growth.
