Mahdi Amjad, founder and CEO of Omniyat, revealed that it is soon preparing to announce two new real estate projects in Dubai in the “ultra-luxury” real estate segment worth 10 billion dirhams.
Amjad said in press statements during a media session held yesterday in Dubai, that Omniyat Company, as part of its keenness to consolidate its position in the luxury real estate sector at the level of Dubai and the Emirates, is preparing soon to announce two new real estate projects in Dubai worth 10 billion dirhams ($2.7 billion) within the category “Ultra-luxury” real estate, as the first project will be developed in the Downtown Dubai area at a value of 5 billion dirhams, and the second project will be developed in the Palm Jumeirah area at a value of 5 billion dirhams as well.
Amjad confirmed that Omniyat’s land portfolio is today distributed among the most prominent strategic areas in the Emirate of Dubai, and Omniyat is still considered the largest brand in the market in terms of the luxury real estate sector in the Emirate of Dubai, which in turn today is considered the largest city in the world in the luxury real estate sector and the most Attractive to investors and wealthy people around the world.
Amjad stated that the size of the real estate market in Dubai is large and expanding day after day. It is also considered a promising and attractive market and full of exceptional investment opportunities. We expect the size of the market to double in the coming years due to the growth in demand and population growth.
Amjad pointed out that the new institutional structure headed by the newly formed “Omniyat Group” and announced yesterday, aims to achieve a total portfolio worth 100 billion dirhams over the next five years, of which 50 billion dirhams have been allocated to new projects in various real estate sectors, and 50 billion dirhams AED for the luxury real estate sector.
Amjad added: “I launched the Omniyat Group to invest in other brands and companies, with the aim of meeting the needs of different segments of customers in the growing real estate market in the Emirates. We are driven by the strong growth of the country’s economy and its long-term vision, and inspired by the success of the ultra-luxury Omniyat brand.”
Omniyat continues to accelerate its growth trajectory with a commitment to expand its presence within the ultra-luxury real estate segment with a total portfolio reaching 50 billion dirhams. Since day one, the strategic diversification policy has enabled the group to expand into different segments of the market. The group leverages its huge network of global talent to bring about a qualitative change in the way residents experience urban life, based on a comprehensive approach, and with a focus on aspects of innovation and sustainability.