UAE-based Reign Holdings to invest $1bn in regional real estate
Reign Holdings’ investment plans include the delivery of 1,000 hotel apartments in Dubai’s Jumeirah Village Circle to cater to Expo 2020-related demand
Reign Holdings has announced plans to invest up to $1bn (AED3.7bn) in the Middle East’s real estate sector.
The Dubai-headquartered business conglomerate will manage investments in numerous sectors, including real estate and construction, on behalf of regulated funds from the Middle East and Far East regions.
Arthur & Hardman, the group’s property development arm, intends to deliver 1,000 hotel apartment units in Dubai’s Jumeirah Village Circle (JVC) to cater to growing demand in the lead-up to Expo 2020.
Samir Salya, chairman of Reign Holdings, predicts that the emirate’s short-term rental market will witness significant growth in the run-up to the world’s fair.
“We expect the market to continue growing even once [Expo 2020] is over, as it is a growing economy and the population is increasing,” said Salya. “My advice to those who are delaying their plans to purchase a property in Dubai is that the waiting period is over. They should start acting now or else they are likely to miss the boat.”
Commenting on Arthur & Hardman’s hotel apartment development plans, Salya continued: “Our next projects will allow us to deliver over 1,000 units at our four-star hotel apartments in JVC in the next three years,” said Salya. “We are currently in talks to partner with a few well-established Italian restaurant chains for the new developments. This project will ensure investors [receive] a guaranteed 9% ROI [return on investment] per annum.”
To date, the group has delivered approximately 400 units in Dubai Sports City under its Giovanni Boutique Suites brand. The related projects all boast an Italian theme.
The firm’s Roma project is now 100% complete, following the delivery of all 400 units; its under-construction Milano development is 60% complete, and is scheduled to be delivered in June 2018; Naples is due to launch soon; Venecia and Turin are under design; and Florence and Pisa are both in the planning phase.
Reign Holdings’ business portfolio includes investments in property, construction, recruitment, facilities management (FM), healthcare, and professional consultation. The group boasts regional projects in various stages of development in areas such as Dubai Marina, Meydan, Business Bay, The World, and Palm Jumeirah.