Tuesday 25 September 2018

Dubai group unveils $1bn real estate investment plan

DUBAI, October 12, 2017

Reign Holdings, a Dubai-based global business conglomerate, has announced plans to invest up to $1 billion in the region’s real estate sector through its development arm Arthur & Hardman.

It will focus on developing fully integrated world-class lifestyle communities that meet the gamut of residential and commercial needs, said a statement from Reign Holdings.

Arthur & Hardman is set to deliver 1,000 hotel apartment units in Dubai’s Jumeirah Village Circle (JVC) over the next few years to cater to the growing demand ahead of the Expo 2020.  

Commenting on the plans, Samir Salya, the chairman of Reign Holdings, said: "We are focused on managing investments for regulated funds and will invest $1 billion in different sectors including construction and real estate on behalf of the funds from Far East and Middle East."

"Our next projects will allow us to deliver over 1,000 units at our four-star hotel apartments in JVC in the next three years. We are currently in talks to partner with a few well-established Italian restaurant chains for the new developments. This project will ensure investors receiving a guaranteed nine per cent ROI (return on investment) per annum,” he stated.

"The short-term rental market in Dubai will see a massive growth due to the expected increase of tourists coming into Dubai. We expect the market to continue growing even once the 2020 Expo is over, as it is a growing economy and the population is increasing," noted Salya.

"My advice to those who are delaying their plans to purchase a property in Dubai is that the waiting period is over. So, they should start acting now or else they are likely to miss the boat," he added.

Salya pointed out that the company had delivered up to 400 units in Dubai Sports City under its brand name ‘Giovanni Boutique Suites’.

"We have drawn inspiration from Italy and so we have decided to choose Italian designs and names to establish the brand further," he said.

According to him, all of Reign Holdings' projects carry an Italian theme, as this is the core of the brand.

"The names we have chosen for our developments are: Roma (100 per cent completed and have successfully delivered 400 units), Milano (currently under construction – 60 per cent constructed and will be delivered in June 2018), Naples (launching soon), Venecia (under design), Turin (under design), Florence (under planning) and Pisa (under planning)," explained Salya.

Reign Holdings, he stated, has a client base from all around the world.

"We believe keeping a strong footing in all areas expands quality of our product as you get an idea of what customers want from homes from all different walks of life. Previously, we have had a lot of Russian, Indian and European clients and recently we have seen an increase of Far Eastern clients, so the market is always evolving making Dubai a truly global brand," he added.

With operations spanning across the globe, Reign Holdings’ has an extensive portfolio of businesses including property investment, construction development, recruitment, facilities management, healthcare and the consultation of professional services.-TradeArabia News Service

Tags: investment | real estate | Dubai group |

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