Brookfield Explores Buying Luxury Hotel on Dubai’s Palm Jumeirah

The investment firm is in talks to purchase Sofitel Dubai The Palm in a transaction that could value the property at about 2 billion dirhams ($545 million), the people said, requesting anonymity as the information is private. If completed, the acquisition will mark Brookfield’s first hotel investment in Dubai.

Deliberations are ongoing, and there is no certainty a deal will be reached. A spokesperson for Brookfield declined to comment.

The 546-room property on the artificial island is operated by French hospitality group Accor SA, though details on the hotel’s ownership structure were not available.

Brookfield has emerged as one of the most active foreign investors in the Middle East, deploying capital across infrastructure, real-estate and private equity.