Brookfield Asset Management
Meraas and Brookfield Asset Management entered a long-term strategic partnership in 2019 to jointly own and operate a diversified portfolio of Meraas retail assets, including The Beach, City Walk and La Mer.
The transaction between Meraas and Brookfield Asset Management represented a significant investment in the region for Brookfield as it facilitated its entry into the retail sector.
The AED 5 billion joint venture leveraged Meraas’s regional brand recognition and experience in curating lifestyle-focused mixed-used developments and Brookfield’s deep retail experience and extensive global relationships to operate a dedicated platform to explore growth opportunities in the retail sector across the GCC region.
This partnership contributes towards delivering on the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to position the emirate as a leading global investment destination and drive innovation in the retail sector.