Brookfield and Alshaya Launch Major Mixed-Use Project in Dubai Hills

DUBAI, UAE – DUBAI, UAE – Brookfield and Alshaya Group have launched a joint venture to develop a major mixed-use project in Dubai Hills, reinforcing continued institutional interest in Dubai’s real estate sector and long-term urban growth story.

The development will span approximately 480,000 square feet and include Grade A office space, build-to-rent residences and retail offerings, creating an integrated commercial and lifestyle destination within one of Dubai’s fastest-growing master-planned communities.

As part of the project, Alshaya Group will establish a new UAE office within the development, further strengthening the company’s operational presence in Dubai.

Institutional confidence in Dubai’s market

The project marks another significant regional investment linked to Brookfield, reflecting continued confidence among global institutional investors in Dubai’s economic fundamentals and real estate market resilience.

Brookfield Asset Management currently oversees more than $1 trillion in assets under management globally, positioning it among the world’s largest alternative investment firms.

The development also highlights growing interest in Dubai’s mixed-use and income-generating real estate sectors, particularly projects capable of combining office, residential and retail components within integrated urban environments.

Brookfield Properties will serve as the development and real estate manager for the project.

Rising demand for Grade A office space

Dubai’s office market has continued to experience strong demand, particularly for Grade A commercial space in well-connected locations.

Limited prime office supply across several key business districts has supported rising occupancy levels and rental growth, as companies continue expanding operations in the emirate.

The inclusion of build-to-rent residences within the project also reflects a broader shift toward professionally managed residential communities designed for long-term occupancy and lifestyle-focused living.

Integrated developments that combine residential, commercial and retail offerings are increasingly becoming a preferred model across Dubai as developers respond to evolving tenant and investor expectations.

Dubai Hills continues to attract investment

Dubai Hills has emerged as one of the emirate’s most active growth corridors, attracting sustained investment across residential, hospitality and commercial sectors.

Its central location, expanding infrastructure and proximity to major business and lifestyle districts have contributed to growing demand from both local and international occupiers.

The new Brookfield-Alshaya development is expected to further strengthen Dubai Hills’ commercial ecosystem while adding to the area’s evolving mixed-use landscape.

Gulf region remains focus for global capital

The launch also reflects continued momentum across Gulf real estate markets, where international investors are increasingly targeting long-term opportunities supported by economic diversification, infrastructure investment and population growth.

Dubai in particular continues to attract global capital due to its business-friendly environment, strategic connectivity and position as a regional commercial hub.

As institutional investors continue to seek resilient and income-generating assets, mixed-use developments in strategic urban locations remain a key focus across the UAE and wider GCC region.