The Financial Post reports in its Saturday edition that Brookfield Asset Management is exploring a deal to buy a luxury hotel on Dubai's Palm Jumeirah. A Bloomberg dispatch to the Post says Brookfield is in talks to purchase Sofitel Dubai The Palm in a transaction that could value the property at about two billion dirhams ($740-million). Deliberations are under way, and there is no certainty a deal will be reached. 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, seeding capital across infrastructure, real-estate and private equity. In May, it partnered with Abu Dhabi-based asset manager Lunate on a $1-billion (U.S.) joint venture to invest in residential real-estate across the region. Merex Investment, its joint venture with a conglomerate owned by Dubai's ruler, is preparing to redevelop a stretch of the city's seafront that is popular with tourists and residents.