Avighna Group buys Emaar Business Park in Dubai for Rs 5.55 billion

27 Nov 2024 CW Team

Real estate developer Avighna Group has acquired Emaar Business Park, Building 3, a multi-tenanted commercial property in Dubai, from Bank Muscat’s Izdihar Real Estate Fund through its UAE arm, Avighna Invest, for Rs 5.55 billion. The Grade A commercial tower, located on the prime Sheikh Zayed Road, offers a total of 150,000 sq ft of office and retail spaces across a ground plus six-storey structure, leased to leading multinational and regional companies.

This acquisition marks Avighna Group’s entry into the real estate segment catering to global capability centres, a growing sector driven by the demand from multinational corporations establishing operational hubs. Izdihar Real Estate Fund had purchased the property from its developer, Emaar, in September 2019.

Nishant Agarwal, the Managing Director of Avighna Group, stated that acquiring Emaar Business Park – Building 3 is a strategic move aligned with the group’s vision to expand its global real estate holdings. He emphasized that the property’s prime location, exceptional design, and blue-chip tenants make it an invaluable addition to their portfolio. Avighna Group, which has been present in diversified businesses in the UAE since 1988, sees this as a major step forward.

The property currently enjoys an occupancy level of 90 per cent, with key tenants including Standard Chartered, Mirage Leisure & Development, Hamptons, Bates Pan Gulf, Injaz Real Estate Trustee, Godiva, and Starbucks. Situated in The Greens at Emirates Living, the property is conveniently located near Dubai Internet City, Media City, Palm Jumeirah, and Dubai Marina.

Agarwal also mentioned that the company intends to actively explore new development opportunities in the UAE. He noted that the group, which has been established in the UAE for over 36 years, has witnessed Dubai’s remarkable growth, driven by its leadership and pro-business environment.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..