Prominent real-estate developer Avighna Group has completed the acquisition of Emaar Business Park–Building 3 in Dubai through its UAE arm Avighna Invest. The multi-tenanted Grade-A commercial building on the arterial Sheikh Zayed Road has been acquired for AED 240 million (INR 555-cr. approx). The prized property was held by Bank Muscat’s Izdihar Real Estate Fund.
Located in The Greens at Emirates Living, the G+6 property features a striking granite-and-glass façade and offers approximately 150,000 sq. ft. of premium commercial and retail spaces, leased to leading multinational and regional companies. The building’s proximity to Dubai Internet City, Media City, Palm Jumeirah, and Dubai Marina, along with excellent metro and road connectivity, make it one of Dubai’s finest commercial addresses.
Nishant Agarwal, Managing Director of Avighna Group, which has a presence in diversified businesses in UAE since 1988, said:
“The acquisition of Emaar Business Park – Building 3 is a strategic step aligned with our vision to expand our real estate holdings globally. The property’s prime location, its exceptional design, and blue-chip tenants make it an invaluable addition to our portfolio.”
Avighna Group is renowned for its real estate development projects in Mumbai, with its twin 61-storey One Avighna Park towers recognized as landmarks of Central Mumbai. “The Group was established in the UAE over 36 years ago and has witnessed Dubai’s remarkable growth, driven by visionary leadership and a pro-business environment. We are excited to finally be a part of Dubai’s thriving real estate sector and will actively explore new development opportunities in the UAE as well,” Mr. Agarwal said.
Dubai-based Banke International Properties, which has a dedicated office in Mumbai, acted as advisors to Avighna Group for the transaction. Porush Jhunjhunwala, CEO of Banke International Properties said, “This transaction reflects the confidence investors have in Dubai’s thriving property market and underscores Dubai’s position as a global hub for premium real estate investment. The city’s growing demand for Grade-A commercial spaces is driven by its robust economy, business-friendly environment, and a vision for sustainable growth,” adding that the firm’s suite of services includes transaction advisory, brokerage, property management, and leasing services.
The demand for premium commercial real estate in Dubai continues to grow, with rising rentals and capital values driven by limited Grade-A office supply and strong demand from sectors such as Business Services, Banking & Finance, Logistics and Real Estate. With new supply expected only after another 4–5 years, the market is poised for unprecedented growth in capital values and rentals.
About Avighna Group:
Avighna Group is a privately-held investment, real-estate and development powerhouse, having offices in India and UAE. Avighna’s world-class real-estate projects have redefined the skyline of Mumbai. Executing Mumbai’s first cluster redevelopment project, Avighna Group transformed the 6.7-acre land parcel with erstwhile tenements into a vibrant community of luxury homes and lively spaces. While the 61-storeyed One Avighna Park is one of Mumbai’s finest residential addresses, the Group’s corporate office Avighna House is counted among the best Grade-A office buildings in the city. Avighna Group, which has an impressive portfolio of luxury residential buildings, office towers and mixed-use developments, is now expanding its footprint globally through acquisitions as well as green-field projects in international markets such as UAE, UK and Europe.
