Investment Corporation of Dubai Seeks to Assist Dubai Real Estate
Construction projects in Dubai were deeply affected by the real estate slump. The Investment Corporation of Dubai continues its efforts to support the local Dubai real estate industry. The Investment Corporation of Dubai and Brookfield Asset Management are hoping to lockdown $500 million in financing to launch a real estate fund dubbed the ICD-Brookfield Dubai Real Estate Fund. The original target amount was $1 billion. The fund would be used to recapitalize frozen real estate projects in Dubai. The announcement of the fund’s creation was in October 2011.
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