Omniyat Dubai

The Dubai property market is continuing to explode as more high profile developers look to increase their presence with state of the art offerings.

Omniyat Properties shocked investors and property devlopers alike this week when it announced plans to increase the size of its United Arab Emirates portfolio by 280%. That would bring the companies total to US$6 billion. Examining the success of this Dubai-based developer, shows just how well the property markets have done. Mehdi Amjad, President and CEO of Omniyat Properties reported that the company profits tripled in 2007. Along with news of the success, Omniyat will be developing another building. The development in Business Bay will be the groups sixth commercial tower in Dubai.

Business Bay has proven itself to be a financial cornerstone in the Gulf area, and this is forcing many investors to take a hard look at how to align their portfolios accordingly. This explains why Investate in a joint venture with Omniyat has invested over fifty percent of the equity through GCC investors. The real estate investment company is poised to cash in on the 15to 20 yield that office spaces in Business Bay are earning. Business Bay continues to draw multinational companies looking for office spaces in world capitals. While the cost of prime spaces in London, New York and Hong Kong continue to rise due to shortages, Dubai is able to offer these offices not only prime locations but state of the art facilities. Technology will be fully integrated into Omniyat's twin tower. Features will include virtual banking and the use of RFID security monitoring.

Look for more real estate investment firms to team up with developers in all of the major Middle Eastern markets. Most Dubai-based developers share Omniyat's goal for the future, to expand in to Saudi Arabia and Abu Dhabi. Both markets are experiencing housing and property shortages that will yield the same results.

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