DMCC completes real estate transaction with Saudi-based Musharaka Capital

DMCC completes real estate transaction with Saudi-based Musharaka Capital

The target property will be one of the largest self-storage facilities in the Middle EastThe land purchase illustrates investor confidence in DMCC and its JLT business district Dubai, UAE: DMCC – the world's flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – completed a real estate transaction comprised of a single plot of land sale with a self-storage facility on it to Musharaka REIT Fund, Musharaka Capital as fund Manager for Musharaka REIT is the representative of the Fund, for a total value of AED 46 million (USD 12.6 million).The price was decided after the fund obtained evaluations from two independent real estate accredited valuers.The plot of land acquired by Musharaka spans across approximately 5,400 square metres (sqm) and is strategically located in the DMCC's and Jumeirah