In a move set to redefine the landscape of Dubai’s real estate market, OMNIYAT unveiled the launch of OMNIYAT GROUP, a new corporate structure that aims to target a portfolio of over AED100bn over the next five years.
This initiative includes a commitment of AED50bn towards new venture across diversified real estate sectors.
Founded in 2005 by Mahdi Amjad, the announcement comes as entrepreneur completes 30 years since the launch of his first business venture in Dubai.
“It’s my 30th anniversary as an entrepreneur in the city since 1994 when I started my first business and I want to use this date and this moment in history to actually announce the group formation that is diverging from not only investing in ultra-luxury real estate, but in different segments of the market,” he said.
Amjad reflected on the company’s journey, said, “Nineteen years ago, I founded OMNIYAT with a clear mission to achieve the unprecedented in Dubai’s real estate sector. A city of superlatives, Dubai is globally renowned for its remarkable story of progress and achievement, and we wanted to bring iconic projects to Dubai’s skyline that stood apart for their design, innovation, and artistry.”
The new OMNIYAT GROUP structure is designed to accelerate growth by exploring different market segments. The group plans to launch a new real estate company in Q3 2024, part of its AED 50bn commitment to new real estate divisions targeting multiple segments in the market.
Amjad elaborated on the vision behind OMNIYAT GROUP, saying, “Encouraged by the UAE’s robust growth and long-term vision, and inspired by the success of our ultra-luxury OMNIYAT brand, I am establishing OMNIYAT GROUP to invest in other brands and companies to address different segments of the UAE’s strong growing real estate market with an uncompromising principle of ‘Best in class, in every class’ we address.”
Commitment to excellence
OMNIYAT is dedicated to excellence, by leveraging a global network of talent, OMNIYAT GROUP will drive transformative change in urban living, focusing on creating sustainable, innovative, and luxurious environments.
“Today, OMNIYAT GROUP has been announced to drive forward our mission to elevate the people at the heart of our business and contribute to a better life and environment for all stakeholders, employees, clients, and their loved ones. Guided by an unwavering commitment to excellence, OMNIYAT GROUP will continuously strive to raise standards and curate experiences that make life better, in every sector we engage in,” Amjad said.
A real estate milestone
The announcement of OMNIYAT GROUP marks a significant milestone for both the company and the Dubai real estate market. By targeting an AED100bn portfolio over the next five years, OMNIYAT GROUP aims to reshape the real estate landscape, setting new benchmarks for luxury, innovation, and sustainability.
This strategic move comes at a time when Dubai’s real estate market is experiencing dynamic growth. The company currently boats a portfolio of iconic masterpieces such as The Opus, One at Palm Jumeirah, ORLA, and The Lana.