Amwaj International Strengthens UAE Footprint with Cledor Investment

Introduction
In a strategic move that underscores its ambition to tap into the lucrative real estate market of the UAE, Amwaj International has acquired an 18% stake in Cledor, a Dubai-based real estate development firm. This investment, which values Cledor at USD 100 million post-money, marks a significant milestone for Amwaj as it ventures into new territories in the real estate sector.

About Amwaj International
Amwaj International is a multinational conglomerate with a robust portfolio and a presence in 27 cities globally. With over 10,000 employees, the company has demonstrated resilience and growth across various sectors including energy, infrastructure, and now, real estate. This latest acquisition is part of Amwaj's strategic focus to diversify its investments and enter high-potential markets.

The Cledor Partnership
Founded by Omar Gull, an industry veteran with more than three decades of experience, Cledor has quickly made a name for itself in the competitive landscape of luxury real estate development in Dubai. The firm has successfully managed to secure AED 2.3 billion in Gross Development Value (GDV) with over 1.3 million square feet in projects, demonstrating its capability and growth potential.

Under the new partnership, Cledor will lead and manage Amwaj’s upcoming real estate projects in the UAE. The investment will provide Cledor with the necessary financial support to enhance its recruitment efforts and address operational costs until its projects begin generating liquidity. Furthermore, the partnership allows Cledor to benefit from Amwaj’s extensive global network and expertise, potentially accelerating its growth trajectory.

Dubai's Booming Real Estate Market
Dubai’s real estate market has witnessed unprecedented growth, recording transaction values amounting to over AED 760.7 billion with 226,000 transactions in 2024 alone. This growth has been largely fueled by foreign direct investments, an increasing demand for luxury properties, and a favorable business environment. Local experts have noted that Dubai's pro-business regulations and tax-free income regime have made it one of the world's most attractive destinations for investment.

Omar Gull, Cledor’s founder, expressed enthusiasm about the prospective collaboration, stating, “In just under a year, we have demonstrated our ability to execute swiftly, launching and selling out our initial development in just four days. Our partnership with Amwaj will further empower us to seize opportunities in Dubai's thriving real estate sector.”

Investment Strategy and Outlook
Amwaj's investment strategy is not exclusive to the local market. While Dubai remains a primary focus, Cledor is also looking to explore the high-growth emerging markets in regions such as Far East Asia and Eastern Europe. With current and planned projects covering roughly 20 million square meters, Amwaj anticipates delivering around 50,000 residential units, which will accommodate 200,000 residents.

To date, Amwaj has invested approximately $2.4 billion in real estate assets in Iraq. These investments span across residential, retail, and office markets, indicating Amwaj's commitment to international growth and diversification. Namir El Akabi, Founder and Chairman of Amwaj Group, has shown great confidence in the leadership of Cledor, highlighting the firm’s potential to redefine the UAE’s real estate sector through innovative development and strategic partnerships.

Conclusion
The move to acquire a stake in Cledor is poised to significantly enhance Amwaj International’s presence in the real estate market of Dubai, one of the most dynamic markets in the world. With the combined strengths of Amwaj and Cledor, this partnership is set to drive substantial growth and contribute to the flourishing landscape of Dubai's real estate sector, offering exciting opportunities for both companies and investors alike. As Amwaj cements its foothold in the UAE, the company is well-positioned to influence the future of luxury real estate development in this vibrant city.

For more information on Amwaj International and Cledor, visit Amwaj and Cledor.