close
Car parking rate

OIA successfully develops a real estate project in the German city of Düsseldorf

Muscat: Oman Investment Authority (OIA) has announced the success of its Eclipse Tower development in the German city of Düsseldorf, a real estate project which was successfully sold to Union Investment, a renowned institutional investor based in Germany a few months before the completion date , despite challenges facing the global building materials supply chain.

Ibrahim Said Al Eisri, Managing Director of Private Equity at the OIA, said that the OIA is always looking for investment opportunities in promising areas that promote economic diversity and contribute to the maximization of revenues to be used to build up reserves and savings for future generations and achieve financial sustainability. .

OIA’s investments are currently distributed by sector and geographically in more than 40 countries around the world. Moreover, the OIA investment guidelines are aligned with the government’s vision to strengthen areas of economic cooperation with other countries with the aim of maintaining common interest and finding international partners to attract FDI to the Sultanate of Oman.

Alejandro Obermeier, Head of Investment Management at Union Investment, who purchased the tower, said: “By purchasing Eclipse Tower, we now own a well-known and competitive building with high quality, modern and flexible office space and high durability.

The Eclipse Tower, which will be completed in the fourth quarter of 2022, benefits from a remarkable location that connects Düsseldorf’s city center to the airport. It is characterized by its triangular shape and consists of 16 floors covering approximately 27,500 square meters of rented space with contemporary offices, multipurpose rooms and terraces with panoramic views. The tower boasts an attractive architectural and structural design.

The building uses a rooftop solar power system that provides green electricity to common areas of the office tower; in addition to 46 electronic charging stations in the underground car park and bicycle parking. The building is controlled by smart building technology.

Oman Investment Authority targets investments in the real estate sector according to a strategy that relies on geographical diversity and the search for partnerships with countries and investors who demonstrate great expertise/experience in this sector.

OIA’s real estate portfolio is divided between numerous development projects, value-added projects and key long-term projects; aimed at obtaining good returns and at mitigating the level of long-term risk.

John Smith

The author John Smith