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Avighna Group acquires Emaar Business Park 3 for Dh240 million

Grade-A office tower at Sheikh Zayed Road marks developer’s GCC real-estate foray

Prominent real estate developer Avighna Group has completed the acquisition of Emaar Business Park–Building 3, a multi-tenanted Grade-A commercial building on Sheikh Zayed Road for Dh240 million. The prized property was held by Bank Muscat’s Izdihar Real Estate Fund.

Located in The Greens at Emirates Living, the G+6 property features a granite-and-glass façade and offers approximately 150,000 sq. ft. of premium commercial and retail spaces, leased to leading multinational and regional companies. The building’s proximity to Dubai Internet City, Media City, Palm Jumeirah, and Dubai Marina, along with excellent metro and road connectivity, make it one of Dubai’s finest commercial addresses.

Nishant Agarwal, managing director of Avighna Group, a diversified business conglomerate rooted in the UAE since 1988, said: “The acquisition of Emaar Business Park – Building 3 is a strategic step aligned with our vision to expand our real estate holdings globally. The property’s prime location, its exceptional design, and blue-chip tenants make it an invaluable addition to our portfolio.”

Banke International Properties acted as advisors to Avighna Group for the transaction. Porush Jhunjhunwala, CEO of Banke International Properties said: “This transaction reflects the confidence investors have in Dubai’s thriving property market and underscores Dubai’s position as a global hub for premium real estate investment. The city’s growing demand for Grade-A commercial spaces is driven by its robust economy, business-friendly environment, and a vision for sustainable growth,” adding that the firm’s suite of services includes transaction advisory, brokerage, property management, and leasing services.

The demand for premium commercial real estate in Dubai continues to grow, with rising 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 expected only after another 4–5 years, the market is poised for unprecedented growth in capital values and rentals.

Avighna Group is a privately-held investment, real estate and development company, with offices in the UAE and India. The Group, which has a portfolio of luxury residential buildings, office towers and mixed-use developments, is now expanding its footprint globally through acquisitions as well as green-field projects in international markets such as UAE, UK and Europe.