Dubai Luxury Developer Sets Sights on Dh100-Billion Portfolio in 5 Years
Dubai’s luxury real estate market is poised for a major transformation as leading developer Omniyat announces its ambitious plan to double its portfolio to over Dh100 billion within the next five years. This strategic move signals significant growth potential in both the high-end and mid-market segments, promising exciting opportunities for luxury property investors and stakeholders.
Omniyat’s Expanding Portfolio and New Ventures
Omniyat, renowned for iconic projects such as The Opus, One at Palm Jumeirah, ORLA, and The Lana, currently holds a portfolio valued at Dh40 billion. The developer plans to launch two new high-end projects worth Dh10 billion later this year, further cementing its position as a leader in Dubai’s luxury real estate market.
Founder and Executive Chairman Mahdi Amjad stated, “We will invest in different brands and companies that will focus on various segments of the real estate market. This includes a complete value-chain of real estate services, building materials, construction, and hospitality.”
Foraying into Affordable and Mid-Market Segments
While Omniyat’s core focus remains on luxury and ultra-luxury properties, the developer is also venturing into the affordable and mid-market segments. This strategic diversification aims to tap into a broader market, ensuring sustainable growth and a balanced portfolio.
Amjad highlighted, “Ultra-luxury will remain around half of the group’s portfolio when it achieves its objective of Dh100 billion. However, expanding into the affordable and mid-market segments allows us to cater to a wider range of clientele.”
Organic and Inorganic Growth Strategies in Luxury Properties
Omniyat’s growth strategy encompasses both organic and inorganic methods, including strategic acquisitions and investments in various real estate-related companies. This approach ensures a robust and diversified portfolio capable of withstanding market fluctuations.
Amjad elaborated, “We will invest in companies that bring added advantages, including those in the services, building materials, construction, and hospitality sectors. This holistic approach ensures we remain at the forefront of the real estate market.”
Capital Luxury Properties Market Opportunities
As part of its expansion plan, Omniyat is exploring opportunities in the capital market, including the potential issuance of the group’s first bond next year. This move aims to secure diverse capital sources to support the developer’s ambitious growth targets.
Expanding Presence in the GCC Region
Omniyat’s expansion plans extend beyond Dubai, with a keen focus on the UAE and other GCC countries, particularly Saudi Arabia. The kingdom’s burgeoning real estate market, characterized by a large population and high demand, presents significant growth opportunities.
Amjad noted, “Our focus will remain on Dubai, UAE, and GCC. Saudi is a flourishing market with a substantial growth potential. We are already eyeing opportunities in the kingdom, but a substantial amount of growth in our portfolio will be UAE-focused.”
Implications for Nautilus Properties
As a leader in Dubai’s luxury real estate market, Nautilus Properties stands to benefit from the overall growth and expansion in the sector. Our expertise in high-end residential properties and a client-centric approach position us to capitalize on these market developments.
Our focus areas, including Downtown, Meydan, Emirates Hills, Emirates Living, Dubai Hills, Palm Jumeirah, Dubai Creek Harbour, Arabian Ranches, Dubai Marina, and Business Bay, align with the growing demand for luxury properties in Dubai.
The anticipated growth in Dubai’s real estate market, spearheaded by developers like Omniyat, presents exciting opportunities for Nautilus Properties. By staying attuned to market trends and continuing to provide exceptional service, we are well-positioned to thrive in this dynamic environment.
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