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Omega Real Estate says Dubai still 'hot property'

Newly formed developer plans to have $136m worth of properties under management by close of 2015

Dubai Marina remains a key investment area for developers in Dubai. Image: Getty.
Dubai Marina remains a key investment area for developers in Dubai. Image: Getty.

Newly formed real-estate development and asset management company Omega Real Estate wants to have AED500 million ($136m) on its books by the close of the year.

The company, a subsidiary of The H Holding Enterprise, was launched this week, and senior management expects the company to build its portfolio rapidly.

Hafeez Abdullah, Chairman of ‘The H Holding Enterprise’, said: “We strongly believe that real estate will remain the hottest investment in the UAE for the coming decade, and that is why we decided to invest in this new venture.

“Real estate is widely regarded as a sound investment, especially by people with easy liquidity. We foresee increased regional demand for UAE realty as the understanding and knowledge attained over years by investors go hand in hand with the expertise of the real estate developers and the regulatory measures of the Dubai Land Department (DLD).”

The new compamy will be headed by general manager Nahid Dabirchian.

Abdullah said: “We welcome Nahid on board and we believe that her strong background as a senior professional at leading UAE real estate companies will be a key factor in helping us achieve our goal of becoming one of the leading real estate companies in the Arab world and beyond, driven by the proven expertise of ‘The H Holding Enterprise’.

Dabirchian commented: “I am very pleased to head Omega Real Estate in the Middle East. I believe there is huge potential for the company to take a front seat in the property industry in the region. We have tremendous experience from the top of the pyramid represented by the experience of our chairman, Mr Hafeez Abdullah, to the bottom. This combined expertise and experience will certainly drive the company forward at a rapid pace.”

She added: “2014 was a positive year for the realty market in the UAE in general and Dubai in particular. The sector has generated higher demand for properties across many new locations. We know for sure that our investors have strong belief in what the UAE has to offer in the coming decade as far as real estate in concerned.”

 

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Construction Week - Issue 745
Jun 30, 2019