Omniyat, Dubai’s luxury real estate leader, is planning to increase its portfolio to over Dh100 billion in the next five years, more than double its current standing of Dh40 billion. The developer is also set to launch two new high-end projects worth Dh10 billion later this year. Omniyat, known for projects like The Opus, One at Palm Jumeirah, ORLA, and The Lana, will be expanding into affordable and mid-market segments as well as luxury and uber-luxury portfolios. Additionally, the company will venture into the commercial and hospitality sectors through organic and inorganic growth methods.
Founder and executive chairman Mahdi Amjad stated that Omniyat will invest in various segments of the real estate market by acquiring different brands and companies. The company plans to invest in the entire real estate value chain, including services, building materials, construction, and hospitality. Amjad mentioned that ultra-luxury projects will make up half of the group’s portfolio when it reaches the Dh100 billion mark and highlighted the group’s rapid balance sheet growth in recent years.
Looking ahead, Omniyat is considering tapping into the capital market and expects to issue its first bond next year. While exploring various capital sources for growth, the company has ruled out going public in the near future. Amjad also revealed plans for expansion into other GCC countries, with a focus on the UAE and Saudi Arabia. Saudi Arabia, in particular, has shown promising market potential due to its large population and demand for future growth. Omniyat is already exploring opportunities in the kingdom while maintaining a significant focus on UAE-centric growth.
Founded nineteen years ago with a mission to bring unprecedented projects to Dubai’s real estate sector, Omniyat has established a reputation for iconic and innovative developments. The company aims to continue pushing boundaries in design, innovation, and artistry to contribute to Dubai’s evolving skyline. With a commitment to growth and expansion, Omniyat’s ambitious plans signal a bright future for the luxury real estate sector in Dubai and the broader GCC region.
