If you have looked into real estate or listed stocks in Abu Dhabi, you have likely come across the name Eshraq. It shows up in the news, on the Abu Dhabi stock bourse, and in talks about mid-size UAE firms trying to grow beyond pure property. But what does the firm actually do? Who owns it? And is it worth your attention as a buyer, renter, or investor?
Who Is Eshraq Investments PJSC?
Eshraq Investments PJSC was set up on December 24, 2006, and is based in Abu Dhabi, UAE. Formerly known as Eshraq Properties Company, it is a UAE-based firm active in the property sector, focused on launching residential, commercial, tourist, and other real estate projects.
It is a public firm with a paid-up capital of AED 2.325 billion, holding a wide mix of residential, commercial, and tourism assets. The company is listed on the Abu Dhabi Securities Exchange (ADX) under the ticker ESHRAQ, which means any person, local or foreign, can buy shares in the open market.
Its office sits at Marina Rise Tower on Reem Island, which is also one of its own projects. That says something about how tied the firm is to its own builds.
What Sectors Does Eshraq Operate In?
The firm runs through five business lines: Property Development, Investment Properties, Hospitality & Leisure, Investment & Asset Management, and a Holding segment. On the financial side, Eshraq also holds a varied portfolio that spans equities, fixed income, private equity, and debt products. So, it is not a pure property firm. Think of it as a mid-size firm with real estate at its core, but with fingers in capital markets too. That blend is both a strength and, at times, a risk; more on that later.
Projects in Abu Dhabi and the UAE
Marina Rise, Reem Island, Abu Dhabi
The Marina Rise project on Reem Island covers residential apartment towers, office towers, a hotel, furnished apartment towers, and a waterfront mall. This is the flagship build. By mid-2022, Marina Rise had hit 98% occupancy in its second quarter, which helped bring in steady rental income for the firm.
Reem Island is one of the busiest growth zones in Abu Dhabi, drawing both local families and foreign workers. The fact that Eshraq's main tower sits here matters to buyers and renters. It places the firm right in one of the most sought-after spots in the capital.
Nuran Marina Serviced Residences, Dubai Marina
Eshraq manages the Nuran Marina Serviced Residences in Dubai, which offers 90 fully serviced flats ranging from studios to 3-bed units, with views over Dubai Marina. This asset hit an 88% occupancy rate in 2019 and went on to record a 70% rise in average room rates by 2022. The firm later sold the Nuran Marina Hotel at a 45% premium, a strong exit for any real estate asset.
Beans & Pages, Reem Island, Abu Dhabi
Eshraq has put money into Beans & Pages, a café and library on Al Reem Island, as part of its goal to build community ties and draw visitors to the emirate. A small investment, yes, but one that tells you about the firm's approach to placemaking beyond just bricks and glass.
Deals & Corporate Moves
Goldilocks Fund Deal (2022)
This is the biggest deal in Eshraq's recent history, and the most talked about. In August 2022, Eshraq completed its buy of Goldilocks Fund, taking a 99.25% stake in the Abu Dhabi Global Market-based fund. The firm issued over 1.38 billion new shares, pushing its issued capital to AED 2.8 billion and total assets to more than AED 3.8 billion. The plan was that Eshraq, then focused on real estate, would merge with Goldilocks, which had ties to energy, finance, and insurance, for a portfolio meant to hedge against inflation.
That logic made sense on paper. In practice, things got complicated. By late 2024, Eshraq's board had approved legal steps, both criminal and arbitration, against parties linked to the deal, after finding that some acquired shares had undisclosed pledges. The company reported a net loss of AED 679.4 million in 2024, largely due to write-downs on Goldilocks-related assets. So, the Goldilocks deal remains a key chapter for the firm, both for its bold ambition and the losses it caused.
Reem Investments Proposal (2017–2018)
In 2017, Eshraq and Reem Investments looked at merging to form the second-largest listed developer in Abu Dhabi. That deal did not go through, as the two firms could not settle on major commercial terms. Still, the talks showed that Eshraq was seen as a big enough player to anchor a major merger at the time.
Market Position & Competitors
Eshraq is a mid-size firm in a market led by much larger names. The top real estate firms in Abu Dhabi include Aldar Properties, Eshraq, and Bloom Properties. Aldar, the largest player, is backed by the Abu Dhabi government and has developed places like Al Raha Beach, Yas Island, and Ferrari World. Aldar is in a different weight class. Its scale, government ties, and land bank make it the default choice for global investors.
Bloom, Imkan, and Reportage are the other mid-size names that often come up. Each has carved a niche: Bloom for family communities, Imkan for design-led builds. Eshraq, by contrast, leans toward mixed-use urban builds in high-density zones like Reem Island and DIFC.
Where Eshraq stands out is in its listed status and its move into asset management. It is not just a developer. It tries to act more like a holding firm, which gives it a different profile. That also means its share price reflects more than just property values; it reflects fund performance, board decisions, and capital deals, too.
Property Guide for Buyers & Investors
Renters:
For renters, especially professionals and small families moving to Abu Dhabi or Dubai, Eshraq's assets, Marina Rise and former Nuran units, sit in prime areas with strong links to business hubs.
Property Buyers:
For property buyers, the firm's Reem Island land bank and mixed-use projects offer exposure to one of Abu Dhabi's fastest-growing zones. Prices there have held firm over the years.
Investors:
For investors on the ADX, the picture is more nuanced. The firm has good underlying real estate assets. The issue is the financial fog from the Goldilocks write-downs and the legal battles tied to that deal.
Conclusion:
Eshraq Investments PJSC is a firm with real assets, a clear place in Abu Dhabi's urban growth, and a track record of building projects that people actually live and work in. Marina Rise alone is a sign that the firm can deliver at scale.
That said, the Goldilocks detour cost the company both money and trust. The board is now focused on cleaning up the balance sheet, selling non-core assets, and rebuilding focus around core real estate and private equity.
For anyone thinking about renting in a Reem Island tower, buying in Abu Dhabi's growth corridor, or simply tracking ADX-listed real estate firms, Eshraq is a name worth knowing. Just go in with eyes open. The firm has promise, but it also has work to do.
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