Mumbai-based real estate developer Avighna Group has bolstered its global portfolio with the acquisition of Emaar Business Park 3 in Dubai for Rs 555 crore. Purchased through its UAE subsidiary, Avighna Invest, this mixed-use commercial property spans approximately 1,50,000 square feet of commercial and retail space. Strategically located on Dubai’s iconic Sheikh Zayed Road, the acquisition reflects Avighna’s ambitions to diversify and strengthen its footprint in international real estate markets.
This six-storey property is part of The Greens at Emirates Living, a prominent development within Dubai’s bustling urban fabric. Originally developed by Emaar Properties, the building was previously owned by Bank Muscat’s Izdihar Real Estate Fund. The property is uniquely positioned along Sheikh Zayed Road, a major arterial route known for its towering skyscrapers and high-value developments. For Avighna Group, which established its presence in Dubai over three decades ago, this acquisition reinforces its commitment to catering to global demand while adding prestige to its portfolio.
The strategic purchase is significant in the context of Dubai’s resilient real estate market, which has seen a consistent uptick in demand post-pandemic. Comparatively, Dubai remains attractive for investors due to its robust infrastructure, investor-friendly policies, and dynamic economic growth. Avighna’s entry into a high-growth market like Dubai showcases the shift in Indian developers’ aspirations to operate on a global scale, ensuring steady growth and diversification beyond domestic boundaries.
From a sustainability perspective, the investment in mixed-use properties underscores an emerging focus on optimising space utilisation and fostering community-centric development. Such projects, designed to reduce urban sprawl and enhance resource efficiency, align with the global push for sustainable urban planning. By adopting eco-conscious practices, Avighna Group has the potential to enhance its reputation as a forward-thinking developer, catering to both modern demands and environmental responsibilities.
