Dubai floats funds to restores real estate sector

5 November 2011: Dubai has launched a real estate investment fund worth up to $1 billion with Canada's Brookfield Asset Management in a bid to revive the battered sector and restore investor confidence. The emirate's main investment vehicle, Investment Corporation of Dubai (ICD) and Brookfield will each deploy $100 million in the joint fund.

The fund, with a maximum cap size of $1 billion, will focus on a wide class of assets in both freehold and non-freehold areas. It will also seek additional funds from a select group of local, regional and international investors.

Source: Economic Times