Qatar Investment Authority forms JV with Brookfield for $8.6bn mixed-use project in Manhattan

[Parkeralex]

Qatar Investment Authority (QIA) has formed a joint venture with a Brookfield Property Partners subsidiary for the Manhattan West development project in New York City.
Under the deal, QIA will be entitled to a 44% stake in the mixed-use development, which is expected to involve an investment of $8.6bn.
Brookfield Asset Management CEO Bruce Flatt said: "Brookfield has enjoyed a long-standing, successful relationship with QIA and we are thrilled that they share our vision for this transformative project."
To be developed in the western side of the New York City borough of Manhattan, the project will lead to construction of five buildings under separate phases.