A recent transaction by Indian firm Nisus Finance Services Company Limited (NiFCO) is seen as the largest investment made by the company in the UAE.

NiFCO has acquired Lootah Avenue, a residential building located in Dubai Motor City, for AED221 million ($60 million) that covers transaction expenses, refurbishment, and the cost of acquisition.

Nisus High Yield Growth Fund, based in the Dubai International Financial Centre (DIFC), is responsible for processing the investment, while Nisus Finance has anchored the transaction in partnership with global institutional funds, with the backing of Emirates NBD.

Lootah Avenue, which was completed in 2021, is a fully occupied freehold development that includes 273 residential units, besides a medical centre and eight retail outlets. The structure has 2B+G+23+1R floors on a 13,533.09 sq.m. expanse of land.

Commenting on the massive deal, Amit Goenka, the Chairman and Managing Director of Nisus Finance Group, 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.”

With Nisus High Yield Growth Fund attracting fund managers and global investors, Goenka said, “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. We remain committed to the investor community that has placed its trust in us.” – editor@nrifocus.com