Sweid & Sweid has acquired Aurora Tower, a 225,000 sq ft landmark office building in Dubai Media City, in a strategic transaction advised by Cushman & Wakefield Core
Dubai-based real estate investment and development firm Sweid & Sweid has completed the acquisition of Aurora Tower, a 27-storey, 225,000 sq ft commercial office building located in Dubai Media City, in a strategic transaction advised by Cushman & Wakefield Core.
The sale marks a key divestment for AREIT, which has owned the asset for 18 years, and signals the start of a new phase of repositioning for the landmark building. Currently 85% occupied, Aurora Tower is home to a high-profile tenant base including Spotify, Universal Music Group, Nielsen, The Economist Group, and Beyond One, across media, technology, finance, and professional services.
Cushman & Wakefield Core’s Capital Markets team led the investor process on behalf of AREIT, identifying a buyer whose investment strategy aligned with the asset’s long-term potential. “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.
Stephen Atkinson, Director of AREIT, added: “Aurora Tower is a quality asset that we’ve owned for 18 years, and closing this transaction delivers a positive outcome for AREIT shareholders. We’re confident Sweid & Sweid will further enhance the building through its investment strategy.”
The acquisition marks Sweid & Sweid’s fourth project within Dubai Media City, reinforcing its reputation for delivering Grade-A commercial office spaces in the UAE’s most dynamic business districts. “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 bring to this 20-year-old building,” said Maher Sweid, Managing Partner of Sweid & Sweid. “Our strategy will focus on thoughtful upgrades to align the asset with evolving global occupier standards.”
The acquisition adds to Sweid & Sweid’s expanding portfolio, which includes Sweid One, its new 500,000 sq ft office development in Jumeirah Lakes Towers, further strengthening its position as a leading developer of institutional-grade commercial real estate in the region.
