Brookfield in early talks to invest in Dubai property developer Meraas

Brookfield in early talks to invest in Dubai property developer Meraas

Skyscrapers stand in Dubai. Photographer: Christopher Pike/Bloomberg

Brookfield Asset Management Inc. is in early talks for an investment in Dubai property developer Meraas Holding, according to people with knowledge of the matter, in a deal that would signal a vote of confidence in the emirate’s ailing property market.

The Canadian firm is weighing options that would give it control of some retail properties from Meraas, including entering into a joint venture for those developments, the people said, declining to be identified as the deliberations are confidential. Brookfield is considering taking a stake in the state-run conglomerate as part of such a deal, they said. The discussions are in preliminary stages and may not result in an accord, they said.

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