Istithmar boosts real estate business
In a bid to boost its real estate business, Istithmar has launched Istithmar Leisure, a 100 percent subsidiary which focuses on asset management and value-added offerings in the leisure sector.
An investment holding company launched in 2003 and indirectly owned by the government of Dubai, the company focuses on private equity, real estate, and alternative investments.
Operating under the real estate umbrella of Istithmar, Istithmar Leisure will manage key leisure investment projects on behalf of Istithmar. The initial portfolio includes Jumeirah Golf Estates, Nakheel Marinas and Island Global Yachting; the company will also manage all beach and recreation clubs in the Nakheel portfolio.