Harbor boosts managed property count to 6000

Dubai property management company said it closed $762m in service contracts and transactions in 2014

Mohanad Alwadiya, Managing Director of Harbor Real Estate
Mohanad Alwadiya, Managing Director of Harbor Real Estate

Dubai-based Harbor Real Estate says it closed out the 2014 financial year by concluding service contracts and transactions exceeding AED2.8bn ($762m).

Mohanad Alwadiya, Managing Director of Harbor Real Estate said: “Harbor’s achievements and growth are derived from the overall recovery that the Dubai property sector has witnessed. We have capitalised on Dubai’s success in promoting itself as a lucrative global investment destination and coupled this with our exceptional customer service and tailor-made property solutions. This winning formula helped us become the most sought-after service provider when it comes to managing institutional client portfolios.”

Harbor currently has 6000 properties worth a combined AED15bn ($4bn) on its books, and has a growing list of institutional clients that includes National Bonds Corporation, Al Mazaya Holding, Investment Corporation of Dubai, Al Thani Investments, Daman Investment, Tadhamon Islamic Bank, Global Investment & Development, Amlak Finance, and ASGC Investments.

Alwadiya said: “From crises emerge companies that are more resilient, innovative and determined to succeed. Harbor Real Estate is one of these very few companies within the real estate sector that managed to evolve and capture the benefits of the infamous economic crisis of 2008. We are now reaping the benefits of our hard work and innovative approach with an exclusive portfolio.”

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