Leader in luxury real estate in Dubai, Omniyat, announced on Tuesday that it hopes to more than double its portfolio to exceed Dh100 billion in the next five years. Additionally, it will float new businesses across various verticals.
The executive chairman and founder of Omniyat, Mahdi Amjad, stated that the company aims to introduce two new high-end projects worth Dh10 billion later this year, bringing its portfolio to Dh40 billion.
The developer will also be venturing into the affordable and mid-market segments. The developer is the owner of several well-known projects in Dubai, such as The Opus, One at Palm Jumeirah, ORLA, and The Lana. Over the next five years, it will also diversify its offering into luxury and ultra-luxury categories. In the upcoming years, Omniyat plans to extend its reach into the commercial and hospitality sectors using a combination of inorganic and organic strategies.
“We’ll make investments across the whole real estate value chain, including services, building supplies, building, hospitality, etc. Additionally, businesses that offer extra benefits, already-existing businesses that are expanding rapidly, and businesses founded with a specific goal in mind will all receive investment,” he continued.
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