Home Industry Finance Houlihan Lokey raises around $200m for Shapoorji Pallonji for project in Downtown Dubai Imperial Avenue, a 45-floor residential tower, is Shapoorji Pallonji’s flagship real estate project in the UAE by Gulf Business May 18, 2022 Houlihan Lokey, the global investment bank listed on the New York Stock Exchange, has secured funding for Shapoorji Pallonji International Property Developers (SPID) to finance the completion of SPID’s Imperial Avenue residential development in Downtown Dubai. SPIPD is the development arm of Shapoorji Pallonji, one of India’s largest business conglomerates with a leading presence in the sectors of engineering and construction, infrastructure, real estate, water, energy and financial services, with a strong employee base of over 70,000 people across 70 countries. Imperial Avenue is Shapoorji’s flagship real estate project in the UAE. The 45-floor residential tower is currently 55 per cent complete and is expected to reach completion by the end of next year. Arun Reddy, MD and head of Middle East and Africa at Houlihan Lokey, commented, “This transaction marks an important milestone for the development of the Imperial Avenue project and for Dubai. We worked closely with the Real Estate Regulatory Authority, which helped facilitate the transaction, and we were able to leverage our global reach and access to international capital to secure the desired funding for our client alongside restructuring of the local bank.” “The transaction is a testament to Dubai’s attractiveness to international investors as well as Houlihan Lokey’s expertise and connectivity in the market. Dubai’s real estate market continues to offer the best relative value across 25 global cities,” said Reddy, who believes this transaction confirms positive market sentiment and international capital appetite for Dubai’s real estate market vis-à-vis other markets. Tags Dubai finance Real Estate Shapoorji Pallonji International Property Developers 0 Comments You might also like How REITs are unlocking the potential of UAE real estate RTA to construct 762 bus shelters in key Dubai areas by 2025 Dubai approves Dhs152m bonus for government employees Strong cash flows for UAE stocks in Christmas Day trade