Driven | Forbes Global Properties has expanded its assets under management (AUM) to approximately AED 2 billion following the acquisition of two residential buildings in Dubai for a combined AED 242.5 million.

The acquisitions include City Walk Building 18A, acquired for AED 181.5 million, and The Polo Residence Building A3 in Meydan, purchased for AED 61 million. Together, the transactions add more than 106,000 sq. ft. of residential inventory to the company's investment portfolio.

According to the company, the acquisitions form part of its long-term strategy to build a yield-generating residential portfolio across established Dubai communities characterised by sustained demand and limited supply of quality assets.

"We invest with a long-term perspective, and our commitment to Dubai remains consistent through every market cycle," said Abdullah Alajaji, Founder and CEO, Driven | Forbes Global Properties. "City Walk and Meydan are very different communities, but both offer the qualities we value most: sustained demand, limited supply of high-quality assets and lasting appeal for residents and investors."

City Walk Building 18A is a seven-storey residential development by Meraas comprising one-, two- and three-bedroom apartments, along with a four-bedroom duplex and penthouse. The Polo Residence Building A3 forms part of the established Polo Residence community in Meydan, offering low-rise residential units within a gated development adjacent to the Meydan Racecourse.

Hadi Hamra, Deputy CEO and Chief Commercial Officer, Driven | Forbes Global Properties, said opportunities to acquire entire residential buildings of this quality are limited and that the acquisitions will strengthen and diversify the company's long-term income-generating portfolio.

The latest acquisitions build on the firm's existing investments across Dubai's residential and commercial real estate market. Driven previously acquired the adjacent City Walk Building 17 in 2023 and has also invested in assets across Downtown Dubai, City Walk and Dubai Water Canal.

The company said the acquisitions reflect continued confidence in Dubai's real estate fundamentals and its long-term growth prospects.