Legatum buys DIFC Precinct Building 6

The Legatum Group, a Dubai-based private investment firm, has acquired Precinct Building 6, which is at core of the Dubai International Financial Centre (DIFC).

The building, positioned between the DIFC Gate building and Emirates Towers, has 128,000 square feet of space and was bought from an unnamed private investor.
It will be renamed Legatum Plaza and Legatum moving its Dubai office into two floors of the building, the company said in a statement.

Mark Stoleson, CEO, the Legatum Group, said, “This acquisition of Building 6 will provide Legatum with a new global headquarters in the finest location in Dubai’s Central Business District, which is increasingly recognised as a leading international financial centre, connecting East with West.”

Abdulla Mohammed Al Awar, CEO of DIFC Authority said: “Legatum’s decision to invest in DIFC as its global headquarters is further testament to DIFC’s status as a global financial and business hub.”

Jones Lang LaSalle, real estate investment and advisory firm, were advisors for the seller.

In the statement, the firm said that Building 6 is leased to global multinational firms such as UBS, Nomura, Rothschild & Clifford Chance, Gaurav Shivpuri, Head of Capital Markets for Jones Lang LaSalle in MENA, who led the mandate, said: “During the marketing campaign for this asset, we found significant interest within both regional and international buyers. This corroborates that a strong interest exists for high quality, well located, income producing assets within Dubai. It also confirms that locations such as DIFC are high on investors mind, given its legal and ownership statutes.”

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