Home / Dubai Holding launches real estate operation

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.

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.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.