Danube buys prime Business Bay plot from Shuaa Capital

Danube buys prime Business Bay plot from Shuaa Capital

Shuaa Capital, a leading asset management and investment banking platform in the region, has announced that it has arranged, on behalf of its subsidiaries and other investors, the sale of a prime plot of land in Business Bay for AED190 million ($51 million) to Dubai-based developer Danube Properties. This transaction is part of Shuaa Capital's ongoing strategy to consolidate its asset portfolio, driving value for its shareholders and supporting the growth of Dubai's real estate market, it stated. Shuaa Capital Group CEO Fawad Tariq Khan said: "We are delighted to reveal this transaction with Danube Properties, with whom we have a growing relationship. This agreement underscores our dedication to generating shareholder value and participating in the advancement of Dubai's real estate sector." "Our strategy focuses on recognising and seizing opportunities that resonate with the ever-evolving UAE market," he noted. The sale of this premium plot to Danube Properties reflects Shuaa Capital’s strategic commitment to leverage favourable market dynamics, he added. Danube plans to develop a major residential tower on the acquired plot. This project aligns with its vision to create affordable, high-quality living spaces for residents of Dubai, said its top official. "As one of the fastest-growing private real estate