Shapoorji Pallonji, one of India’s largest business conglomerates, has announced that its development unit, Shapoorji Pallonji International Property Developers (SPIPD), has secured a key investment from UK-based Hayfin Capital Management for its landmark Imperial Avenue project in Downtown Dubai. 

 

One of Europe’s leading alternative asset management firms headquartered in London, Hayfin focuses on delivering best-in-class risk-adjusted returns for its investors across its private credit, liquid credit and private equity solutions businesses. The advisor for this transaction was Houlihan Lokey, Dubai. 

 

Imperial Avenue is an exclusive collection of luxury homes in Downtown Dubai overlooking Burj Khalifa and Dubai Canal.

 

Complete with five levels of free-flowing podiums and state-of-the-art facilities, Imperial Avenue consists of 1-, 2-, 3- and 4-bedroom apartments, 4- and 5-bedroom penthouses, 3-bedroom villas and 4- and 5-bedroom villas with private pools at the podium level. 

 

It also boasts a premium 10,000 sq ft lobby, top class amenities and facilities spread across two levels on the 9th and 26th floor.

 

On the key Downtown Dubai project, SPIPD said with the construction in full swing 55% of project work has been completed and is due to be ready in the fourth quarter of 2023.

 

SPIPD Managing Director Cyrus Engineer said: "The Dubai real estate market has seen considerable buyer interest in the past few quarters and the project has seen significant capital appreciation since its launch – a clear testament to its quality and to the faith that has been reposed by our clients and stakeholders."

 

"We are now witnessing brisk sales and, while the pandemic has posed some challenges to the rapid progression of the project, our team remains committed to delivering a quality product that will stand the test of time. We are delighted to have Hayfin invest in this landmark project and look forward to a long-term and mutually rewarding partnership with them," he added.-TradeArabia News Service