Nisus Finance acquires Lootah Avenue, a key residential tower in Dubai Motor City. The Indian firm buys the 25-storey building for AED 221 million, or about $60 million. This deal marks its largest investment in the UAE. The company acts through its DIFC-based fund to secure steady rental income from this prime spot.
Deal Structure and Funding
Nisus Finance Services Company Limited, or NIFCO, handles the purchase via the Nisus High Yield Growth Fund. The fund runs from Dubai International Financial Centre. It also has a feeder fund in India’s GIFT City for local investors. Global institutions and private backers provide equity. Emirates NBD offers senior debt to support the transaction. The total cost covers the buyout, fees, and planned upgrades.
Property Details
Lootah Avenue sits on a 13,533 sq m plot in Motor City. The building spans two basements, a ground floor, 23 residential floors, and a rooftop. It holds 273 freehold units: 110 studios, 110 one-bedroom flats, and 44 two-bedroom units. A medical centre and eight retail shops add value. The net saleable area reaches 24,160 sq m. Builders finished it in 2021.
Strategic Importance
This move doubles Nisus Finance’s UAE portfolio value. The firm eyes completed properties in strong markets for reliable yields. Amit Goenka, chairman and managing director, points to Motor City’s fast growth. Property prices here rise faster than Dubai’s average each year. Demand holds firm in this mature community near racing tracks and parks.
Market Appeal
Dubai’s housing market pulls in big investors with solid basics. Rental rates stay high, and occupancy runs above 90 percent in key areas. Nisus Finance draws funds from GCC family offices, ultra-high-net-worth individuals, and Indian participants. The firm plans light upgrades to boost rents and returns. Motor City appeals to families and young professionals with good road links and nearby attractions.
