Prominent real estate developer Avighna Group has finalized the acquisition of Emaar Business Park–Building 3, a multi-tenanted Grade-A commercial building situated on Sheikh Zayed Road, for Dh240 million. The property, previously held by Bank Muscat’s Izdihar Real Estate Fund, is located in The Greens at Emirates Living and boasts a striking granite-and-glass façade. It offers approximately 150,000 sq. ft. of premium commercial and retail spaces, leased to leading multinational and regional companies.
The building’s strategic location near Dubai Internet City, Media City, Palm Jumeirah, and Dubai Marina, coupled with its excellent metro and road connectivity, makes it one of Dubai’s most sought-after commercial addresses. Nishant Agarwal, managing director of Avighna Group, a diversified business conglomerate with roots in the UAE since 1988, commented: “The acquisition of Emaar Business Park – Building 3 is a significant move in line with our global expansion strategy. The property’s prime location, superior design, and prestigious tenants make it a crucial asset in our portfolio.”
Banke International Properties served as advisors to Avighna Group for the transaction. Porush Jhunjhunwala, CEO of Banke International Properties, stated: “This deal highlights the confidence investors have in Dubai’s dynamic property market and reinforces Dubai’s status as a global leader in premium real estate investment. The city’s increasing demand for Grade-A commercial spaces is fueled by its strong economy, business-friendly environment, and a commitment to sustainable growth.” He added that the firm’s comprehensive services include transaction advisory, brokerage, property management, and leasing services.
The demand for premium commercial real estate in Dubai remains robust, with escalating rentals and capital values driven by limited Grade-A office supply and strong demand from sectors such as Business Services, Banking & Finance, Logistics, and Real Estate. With new supply anticipated only after another 4–5 years, the market is set for remarkable growth in capital values and rentals.
Avighna Group, a privately-held investment, real estate, and development company with offices in the UAE and India, is expanding its global footprint through acquisitions and green-field projects in international markets including the UAE, UK, and Europe. The Group’s portfolio includes luxury residential buildings, office towers, and mixed-use developments.
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