New Luxury Furniture Factory

New Luxury Furniture Factory in Dubai

The developer, Sobha Group, has set up its second furniture factory

Dubai Industrial City

Sobha Furniture with an area of 50,000m2 and an investment valued at $122.5 million will produce:

• Automobile and Aircraft Seats
• Soft and Cabinet Furniture
• Assembled and Flat-pack Furniture

The first developer's fabric is located in Abu Dhabi.

One of the biggest commercial real estate transactions globally will be completed in the UAE.

DIFC

The companies, Lunate and Saudi Arabia's Olayan, have bought a 49% stake in the

business centre, ICD Brookfield Place. Each of the investment companies will own equal per cent of shares.

The current owners, Investment Corporation of Dubai (ICD) and Brookfield Corporation, will retain a 51% of equity, split equally.

The 53-story building is 98% leased at premium rents to:

• Multinational Corporations' Offices
• Global Financial Institutions
• Law Firms
• One of the Most Luxurious Private Members' Clubs, The Arts Club