This investment will support the completion of Imperial Avenue, Shapoorji Pallonji’s first real estate project outside India.
Dubai, United Arab Emirates: Shapoorji Pallonji International Real Estate Development (SPIPD), the development arm of Shapoorji Pallonji, one of the largest conglomerates in India, announced that it has received an investment from Haven Capital Management LLC (Haven), one of the leading alternative asset management firms in Europe. Headquartered in London, UK, to finance the delivery of the historic Imperial Avenue project in central Dubai. Advisors for this transaction are Houlihan Lokey, Dubai.
Commenting on the announcement, Cyrus Engineer, General Manager of International Real Estate Development Shapoorji Pallonji, commented: “The real estate market in Dubai has shown a lot of interest from buyers in recent quarters and the project has seen a significant increase in capital. since its inception, which is a clear indicator of its quality and the trust shown by our customers and stakeholders. Today we are witnessing rapid sales, and although the pandemic has posed some challenges to the project’s progress, our team has maintained its commitment to deliver a high quality project that will stand the test of time. “We are pleased that Haven has invested in this historic project. It is a historic project and we look forward to a long-term and mutually beneficial partnership.”
Downtown Dubai was one of the top three regions in terms of sales volume in the last quarter of 2021, with transactions worth -dubai-2021-release / q4-https: //www.zawya.com/en/press s6dq6l47 – ratio -market-residential-primeAED3.2 billion in this period *, this luxury neighborhood also saw a 7% year-on-year increase in the average price per square foot for apartments in the third quarter of 2021. A real estate consultancy Downtown Dubai recently reported an increase in average selling prices of more than 17% in the last 12 months, noting that properties overlooking the Burj Khalifa are in tremendous demand compared to any other property.
The boom in the Dubai real estate market is attributed to several factors, including increased demand for immigrants following the recent introduction of the long-term visa system and easing of work visa rules, making it easier for those who want to live, work and work and invest in the city. Constructive interest rates and mortgage financing terms, as well as a telecommunications system, have pushed buyers and tenants to demand more space and better offers. Not forgetting the role of government initiatives and proactive management in addressing the COVID-19 pandemic, which were also very important factors in the prosperity of the sector.
Approximately 55% of the works have already been completed on Avenue Avenue. Construction of the Imperial project is in full swing and the expected completion date for Imperial Avenue is the final quarter of 2023.
* Based on an analysis by Sotheby’s Luxhabitat based on data from the Dubai Department of Land.
# company details
– it’s over –
About Haven Capital Management LLC
Haven Capital Management (“Haven”) is a leading company in alternative asset management. Founded in 2009, Haven has invested more than 30 billion euros in equity in more than 420 investment firms through its lending strategies.
Haven has a diversified international team of over 175 experienced professionals in the field with offices worldwide, including headquarters in London and offices in Frankfurt, Madrid, Milan, New York, Paris, Luxembourg, San Diego, Singapore and Tel Aviv. . Haven focuses on providing the best risk-adjusted returns to its investors through its private credit business, liquid credit and private equity solutions.
More information can be found at hayfin.com
About Shapoorji Pallonji and Pvt Ltd
Founded in 1865 in India, SP is a globally diversified organization, with a leading presence in the engineering, construction, infrastructure, real estate, water, energy and financial services sectors. It has a strong employee base of more than 70,000 employees and offers comprehensive solutions in 70 countries. The focus of the SP is on building mega structures, developing multi-faceted iconic monuments and directing innovative technologies in water management, renewable energy, oil, gas and energy, all through good governance and sustainable development, for a better planet.
To learn more, please visit: shapoorjipallonji.com
Around Imperial Avenue, in the center of Dubai
exclusive from home
Imperial Avenue is a Dubai group overlooking a luxury tower between the Khalifa City and the Dubai Canal. Imperial Avenue consists of modern premises and a variety of apartments between 1, 2, 3, 4, bedrooms, penthouse with 4 and 5 bedrooms, villas 3 bedrooms, villas 4 and 5 bedrooms with private pools. Imperial Avenue is 45 floors and includes 424 apartments and 5 parking floors, with more living space and a luxurious lifestyle in mind. Each apartment has standard kitchens
Bathrooms with unique design and private terraces. A luxurious 10,000-square-foot lounge and world-class amenities and facilities are available on two levels on the 9th and 26th floors for Imperial Avenue residents.
To learn more, please visit: imperial.shapoorjiproperties.com