Emirates Development Bank picks CBRE for UAE assets’ sale

Emirates Development Bank picks CBRE for UAE assets’ sale

Global real estate advisor CBRE has been signed up by UAE’s Emirates Development Bank (EDB) to advise on the sale of its former office headquarters in Abu Dhabi and Dubai, as well as their residential portfolio in the UAE capital.

The first office component is the former EDB headquarter building located in the Al Nahyan office district in Abu Dhabi, said CBRE in its statement.

It sits on a 9,000 sq. ft plot arranged over 6 floors, of which 2 are fully fitted and the remaining 4 are shell and core, providing A Grade office space in a central location in the UAE capital city.

The remaining office component of the portfolio in Dubai is the full EDB building located in Deira City Centre’s office precinct, providing 90,000 sq ft of Grade A office space across 11 floors, it stated.

According to CBRE, the building offers large floor plates of up to 10,500 sq ft with efficient layouts and floor to ceiling windows, convenient for large occupiers looking for full or multiple consecutive floors.

The other office component in Dubai comprises 4 floors in the EDB building located in Al Garhoud, providing 45,000 sq ft of Grade A office space within close distance of Dubai