Avighna buys Dubai commercial property for Rs 5.55 billion

28 Nov 2024 CW Team

Avighna Group, a prominent real estate developer, has acquired Emaar Business Park-Building 3, a Grade A commercial property in Dubai, for Rs5.55 billion. The transaction was completed through its UAE arm, Avighna Invest, marking the group’s entry into the Gulf Cooperation Council (GCC) market.

Located on Sheikh Zayed Road, the six-storey tower spans 150,000 sq ft of office and retail space, with a 90% occupancy rate. Tenants include notable names such as Standard Chartered, Godiva, Starbucks, and Hamptons. Situated in The Greens at Emirates Living, the property enjoys proximity to Dubai Internet City, Media City, and Palm Jumeirah, enhancing its appeal as a prime business location.

Originally purchased by Bank Muscat’s Izdihar Real Estate Fund from Emaar in 2019, the property is now part of Avighna Group’s global expansion strategy. Managing Director Nishant Agarwal highlighted the acquisition as a step towards diversifying their portfolio with high-quality assets in strategic locations.

Avighna Group, established in the UAE in 1988, is known for its real estate developments in Mumbai, including the iconic One Avighna Park. The group is also developing super-luxury residential projects, Nishika Elysium and Avighna Marquee, in Mumbai’s Worli district, alongside pursuing international opportunities in the UAE, UK, and Europe.

This acquisition underscores Dubai’s growing prominence as a hub for premium real estate investments, driven by its strategic location, robust infrastructure, and business-friendly policies. Porush Jhunjhunwala, CEO of Banke International Properties, emphasized the transaction as a testament to investor confidence in Dubai’s thriving commercial property market.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..