Currently 85% occupied, Aurora Tower has a well-established tenant base across the media and technology sectors and occupies a prominent position within one of Dubai’s most mature innovation and business districts.
Cushman & Wakefield Core’s Capital Markets team led a focused investor process on behalf of AREIT, identifying a buyer aligned with both the asset’s profile and the seller’s wider fund strategy.
“This transaction highlights sustained investor demand for income-generating assets in prime locations — particularly those offering repositioning potential,” said David Abood, Head of Capital Markets and Co-CEO at Cushman & Wakefield Core. “We’re proud to have supported AREIT in delivering a successful outcome aligned with their strategic objectives.”
Director of AREIT, Stephen Atkinson, said “Aurora Tower is a quality asset that we’ve owned for 18 years and closing this transaction will deliver a positive outcome for AREIT shareholders. We’re delighted to have worked with Cushman & Wakefield Core and Sweid & Sweid to transition Aurora Tower and are confident that Sweid & Sweid will further enhance the building with its intended investment.”
The purchaser, Sweid & Sweid, plans to reposition the building through targeted upgrades that will bring the asset in line with evolving global occupier standards.
“We see tremendous value creation opportunity in Aurora Tower – not only because of its location and tenant mix, but because of the new life our investment and operations teams will deliver to this 20-year-old building,” said Maher Sweid, Managing Partner of Sweid & Sweid. “Our strategy will focus on executing thoughtful upgrades to further align the asset with global occupier standards. This acquisition exemplifies our approach: disciplined, value-enhancing, and grounded in deep sector knowledge.”
