Amwaj International's Bold Leap into Dubai's Real Estate Market
April 23, 2025, 12:20 am
In a strategic move that echoes across the sands of Dubai, Amwaj International has secured an 18% stake in Cledor, a burgeoning real estate firm, for a staggering $100 million post-money valuation. This acquisition marks Amwaj's first foray into the UAE's vibrant real estate sector, a market pulsating with potential and promise.
Amwaj International, a colossal conglomerate with a footprint in 27 cities and a workforce exceeding 10,000, is no stranger to the game of expansion. With over 30 years of experience, its founder, Namir El Akabi, has orchestrated developments worth more than $60 billion across various sectors. Now, with Cledor, founded by the seasoned Omar Gull, Amwaj aims to tap into one of the world’s most lucrative real estate markets.
Cledor, in less than a year, has already made waves. It boasts a Gross Development Value (GDV) of AED 2.3 billion and has successfully launched and sold out its first project in just four days. This rapid ascent is a testament to the firm’s capability and ambition. With Amwaj's backing, Cledor is poised to accelerate its growth trajectory, leveraging Amwaj’s global expertise and extensive procurement network.
Dubai's real estate market is a beehive of activity. In 2024, it reached unprecedented heights, with transaction values soaring to AED 760.7 billion from 226,000 transactions. This boom is fueled by foreign investments, a burgeoning demand for luxury properties, and a regulatory framework that welcomes business. Dubai is not just a city; it’s a magnet for entrepreneurs and investors alike.
The partnership between Amwaj and Cledor is a match made in the desert. Cledor will spearhead Amwaj’s real estate ventures in the UAE, focusing on luxury developments. The infusion of capital will bolster Cledor’s operational capabilities, allowing it to recruit talent and manage expenses until its projects begin to yield returns. This collaboration is set to redefine the landscape of Dubai’s real estate sector.
Omar Gull’s track record is impressive. His experience spans key roles in major firms like Dubai Holding and Emaar Properties, where he has driven sales exceeding $30 billion. His vision for Cledor is clear: to become a billion-dollar company within five years. With Amwaj’s support, this vision is within reach.
Amwaj’s ambitions don’t stop at Dubai. The conglomerate is eyeing high-growth markets in Far East Asia and Eastern Europe. With plans to develop approximately 20 million square meters of land, Amwaj aims to provide 50,000 housing units for 200,000 residents. The company has already invested $2.4 billion in real estate assets in Iraq, showcasing its commitment to the region.
Dubai’s allure lies in its business-friendly environment. The city offers a tax-free income regime, streamlined processes for setting up businesses, and a dynamic investment ecosystem. This combination creates fertile ground for companies like Amwaj and Cledor to thrive. The UAE’s regulatory framework is designed to attract international firms, making it a prime destination for investment.
The partnership between Amwaj and Cledor is not just about financial investment; it’s about innovation and growth. Cledor’s expertise in luxury real estate development aligns perfectly with Amwaj’s strategic vision. Together, they are set to capitalize on Dubai’s booming market, driving growth and redefining the standards of luxury living.
As the sun sets over the Dubai skyline, the future looks bright for both Amwaj and Cledor. Their collaboration is a beacon of opportunity in a market ripe for exploration. With the right mix of ambition, expertise, and capital, they are well-positioned to make a significant impact.
In conclusion, Amwaj International’s acquisition of a stake in Cledor is a bold step into the heart of Dubai’s real estate market. This partnership promises to harness the strengths of both companies, paving the way for innovative developments and substantial growth. As they embark on this journey, the world will be watching, eager to see how they shape the future of luxury real estate in one of the globe’s most dynamic cities. The sands of Dubai are shifting, and with them, the landscape of real estate is evolving.
Amwaj International, a colossal conglomerate with a footprint in 27 cities and a workforce exceeding 10,000, is no stranger to the game of expansion. With over 30 years of experience, its founder, Namir El Akabi, has orchestrated developments worth more than $60 billion across various sectors. Now, with Cledor, founded by the seasoned Omar Gull, Amwaj aims to tap into one of the world’s most lucrative real estate markets.
Cledor, in less than a year, has already made waves. It boasts a Gross Development Value (GDV) of AED 2.3 billion and has successfully launched and sold out its first project in just four days. This rapid ascent is a testament to the firm’s capability and ambition. With Amwaj's backing, Cledor is poised to accelerate its growth trajectory, leveraging Amwaj’s global expertise and extensive procurement network.
Dubai's real estate market is a beehive of activity. In 2024, it reached unprecedented heights, with transaction values soaring to AED 760.7 billion from 226,000 transactions. This boom is fueled by foreign investments, a burgeoning demand for luxury properties, and a regulatory framework that welcomes business. Dubai is not just a city; it’s a magnet for entrepreneurs and investors alike.
The partnership between Amwaj and Cledor is a match made in the desert. Cledor will spearhead Amwaj’s real estate ventures in the UAE, focusing on luxury developments. The infusion of capital will bolster Cledor’s operational capabilities, allowing it to recruit talent and manage expenses until its projects begin to yield returns. This collaboration is set to redefine the landscape of Dubai’s real estate sector.
Omar Gull’s track record is impressive. His experience spans key roles in major firms like Dubai Holding and Emaar Properties, where he has driven sales exceeding $30 billion. His vision for Cledor is clear: to become a billion-dollar company within five years. With Amwaj’s support, this vision is within reach.
Amwaj’s ambitions don’t stop at Dubai. The conglomerate is eyeing high-growth markets in Far East Asia and Eastern Europe. With plans to develop approximately 20 million square meters of land, Amwaj aims to provide 50,000 housing units for 200,000 residents. The company has already invested $2.4 billion in real estate assets in Iraq, showcasing its commitment to the region.
Dubai’s allure lies in its business-friendly environment. The city offers a tax-free income regime, streamlined processes for setting up businesses, and a dynamic investment ecosystem. This combination creates fertile ground for companies like Amwaj and Cledor to thrive. The UAE’s regulatory framework is designed to attract international firms, making it a prime destination for investment.
The partnership between Amwaj and Cledor is not just about financial investment; it’s about innovation and growth. Cledor’s expertise in luxury real estate development aligns perfectly with Amwaj’s strategic vision. Together, they are set to capitalize on Dubai’s booming market, driving growth and redefining the standards of luxury living.
As the sun sets over the Dubai skyline, the future looks bright for both Amwaj and Cledor. Their collaboration is a beacon of opportunity in a market ripe for exploration. With the right mix of ambition, expertise, and capital, they are well-positioned to make a significant impact.
In conclusion, Amwaj International’s acquisition of a stake in Cledor is a bold step into the heart of Dubai’s real estate market. This partnership promises to harness the strengths of both companies, paving the way for innovative developments and substantial growth. As they embark on this journey, the world will be watching, eager to see how they shape the future of luxury real estate in one of the globe’s most dynamic cities. The sands of Dubai are shifting, and with them, the landscape of real estate is evolving.