Nisus Finance Services Company Limited (NIFCO), has announced the acquisition of a residential building – Lootah Avenue situated in Dubai Motor City – at an investment outlay of AED221 million ($60 million) covering the cost of acquisition, transaction expenses, and refurbishment.

The investment has been made through the Nisus High Yield Growth Fund, based in the Dubai International Financial Centre (DIFC). The fund also operates a feeder structure in Gujarat International Finance Tec-City (GIFT City), a central business district under construction in the Gandhinagar district of Indian state of Gujarat, enabling Indian investors to participate in the opportunity.

Completed in 2021, Lootah Avenue is a fully occupied freehold development comprising 273 residential units, including 110 studios, 110 one- and 44 two-bedroom apartments, along with a medical centre and eight retail outlets. 

The project rises to 2B+G+23+1R floors on a 13,533.09 sq m plot, with a Gross Floor Area (GFA) of 28,305.72 sq m and a net sellable area of 24,159.51 sq m.

The investment is anchored by Nisus Finance, in partnership with global institutional funds and backed by Emirates NBD.

On the strategic buy, Amit Goenka, the Chairman and Managing Director of Nisus Finance Group (NiFCO), said: “The deal reflects growing institutional investor confidence in Dubai’s property market. It also demonstrates our ability to deliver tangible investment value through superior asset selection, structured transactions, and the highest standards of governance under DIFC regulation.”

“We remain committed to the investor community that has placed its trust in us,” he stated. 

This transaction marks Nisus Finance’s largest investment in the UAE to date, with the deal size more than double the combined value of the fund’s existing UAE portfolio. 

The fund has attracted strong participation from leading institutional fund managers and global investors, alongside several family offices and UHNI individuals from the GCC and India, contributing to the expansion of its international capital base and supporting the growth of its assets under management over the past 15 months, he stated.

“Motor City has emerged as one of the key residential and commercial micro-markets in Dubai, demonstrating stronger year-on-year price growth than the broader market, which indicates robust capital movement in the area,” noted Goenka.

This transaction underscores the fund’s ability to partner with marquee investors and reinforces its commitment to building a trusted institution in the region, he added.-TradeArabia News Service