09:36 AM EDT, 04/08/2024 (MT Newswires) -- Brookfield (BN) and the Investment Corporation of Dubai said Monday they have agreed to sell a 49% stake in ICD Brookfield Place to Abu Dhabi investor Lunate and Saudi conglomerate Olayan Financing.

The companies said that after the transaction, each buyer will own a 24.5% stake in the Dubai International Financial Centre retail property, with ICD and Brookfield retaining 51%.

Brookfield's real estate operating arm Brookfield Properties will continue to manage the property, the companies added.