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Article: Dubai Investment Group Acquires Berlin's Markisches Zentrum for AED 380 million

Article from:
Al Bawaba
Article date:
June 8, 2006
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DIG - Real Estate & Hospitality, a subsidiary of the Dubai Investment Group LLC (DIG), the global financial investor of Dubai Holding, today announced the acquisition of Markisches Zentrum (MZ Centre), a 55,000 square meter suburban shopping centre in Berlin, Germany.

The AED 380 million (88 million) MZ Centre is DIG's second acquisition in line with its strategy to create a German multi- tenant retail portfolio, focusing on assets that offer long-term revenue streams and value-add asset management opportunities. Financing for the transaction is being provided by Merrill Lynch International.

DIG's Chief Executive Officer Soud Ba'alawy commented: "The acquisition perfectly complements our ...

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