Prime Highlights
- Office space spans about 20,000 square feet at an average price near Dh3,000 per square foot.
- Company weighs further expansion with a possible office acquisition in Europe.
Key Facts
- Infinity Developments acquires Dubai Business Bay office for Dh60 million ($16 million).
- Development portfolio worth about $600 million, spanning East Africa and the UAE.
Background
Infinity Developments has strengthened its UAE presence with the acquisition of about 20,000 square feet of Grade A office space in Dubai’s Business Bay, a deal valued at Dh60 million, or roughly $16 million.
The purchase, made at an average price of nearly Dh3,000 per square foot, marks a significant step in the company’s international expansion strategy and builds its foothold in Dubai, a global hub for business, investment, tourism and real estate.
The company said Dubai’s position as a bridge linking Africa, the Middle East, Europe and Asia drove its decision to grow its presence there.
Infinity Developments Chairman and CEO Samuel Saba said Dubai gives the company a strong platform to deepen international partnerships, connect with global investors and pursue new opportunities across the region and beyond.
He pointed to Business Bay’s location at the center of Dubai’s commercial landscape as an ideal base for a company with growing global ambitions, and described the move as a strategic investment in a Dubai office market he sees as carrying strong growth potential as demand for quality commercial space rises.
The company is also weighing plans to acquire office space in Europe as part of its wider expansion.
The Dubai move builds on Infinity Developments’ established operations in Zanzibar and Mainland Tanzania, where its portfolio spans luxury hospitality, residential, mixed-use and heritage-led projects, including the Anantara Zanzibar Resort and Residences and the upcoming NH Collection Pemba Wellness Resort.
With a development portfolio worth about $600 million, the company continues building an increasingly international platform spanning East Africa and the UAE.
