UAE: Emirates REIT is selling Office Park, a Grade A commercial asset in Dubai Internet City, to TECOM Investment FZ for AED720 million (US$196 million) – at a 31% net premium above the property’s last valuation of AED532 million (US$144.82 million). Owned by Emirate REIT since 2012, the property consists of five interconnected blocks with a gross leasable area of 370,761 square feet and currently enjoys an 88% occupancy rate.
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