Dubai Holding launches real estate operation

Dubai Holding, one of the region’s leading development groups, has established a new corporate entity in order to consolidate its real estate investment activities.

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By  Richard Agnew Published  April 16, 2006

Dubai Holding, one of the region’s leading development groups, has established a new corporate entity in order to consolidate its real estate investment activities. Sama Dubai will leverage synergies across international real estate activities, and is intended to create a portfolio of world-class interlinked real estate businesses. Mohammed Al Gergawi, executive chairman of Dubai Holding, said Sama Dubai would assume immediate control of Dubai International Properties (DIP), as the first element of the company’s portfolio. DIP is currently active across several segments of the real estate development sector, including tower buildings under the Dubai Towers brand, large scale resorts under the Salam brand, business developments, mega malls and other high-profile projects. Last month, Dubai Holding announced a series of significant real estate projects worth US$12 billion in major Moroccan cities over the next five years. Additionally DIP, now part of Sama, last year launched several multi-billion dollar projects in various parts of the world, including the development of a Dh1 billion (US$272 million) mixed-use tower, Dubai Towers, in Doha. Sama Dubai is the latest in a series of specialist Dubai Holding investment companies, including Dubai International Capital and Dubai Investment Group. The company will manage local, regional and global real estate investments. This will be done either directly or indirectly, and will include the pursuit of joint ventures in order to maximise returns and economies of scale.

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