Amwaj enters UAE's real estate market with strategic Cledor deal
The investment marks Amwaj's entry into the rapidly growing real estate market in the UAE, with Cledor's post-money valuation hitting $100 million.
This investment is a key part of Amwaj's strategy to expand into one of the world's most vibrant real estate markets, said the company in a statement.
For over 30 years, Founder and Chairman of Amwaj Group Namir El Akabi has successfully directed developments and investments worth more than $60 billion across nearly every sector of the real estate industry.
Under the partnership, Cledor will manage and spearhead Amwaj's upcoming real estate ventures in the UAE, harnessing its expertise in luxury real estate development, it stated.
The funds will enable the firm to attract top talent and manage operational expenses until its projects generate liquidity.
As per the deal, Cledor will also leverage Amwaj's global team of professionals, procurement network, and expertise to accelerate future growth.
"Dubai provides the ideal environment for entrepreneurs to dream big and scale quickly," said Gull.
"In just under a year, we secured AED2.3 billion in Gross Development Value (GDV) and more than 1.3 million sq ft in projects. We have also demonstrated our ability to execute, having launched and sold out our first development in just four days, with a GDV of AED435 million. Our partnership with Amwaj will further fuel our growth, allowing us to capitalize on Dubai's booming real estate market," he stated.
According to him, Dubai's real estate sector is witnessing exceptional growth, with record-breaking transactions and rising investor confidence.
In 2024, Dubai reached an all-time high in real estate transaction values, totaling over AED 760.7 billion from 226,000 transactions. The boom has been fueled by foreign direct investment, a growing demand for luxury properties, and a pro-business regulatory framework.
As a thriving global business hub, Dubai offers an unparalleled environment for startups, enabling rapid scaling for companies like Cledor, he added.
Gull's career path has seen him achieve sales upwards of $30 billion, said Amwaj in a statement.
He has previously held key leadership roles including the Chief Sales Officer of Dubai Holding, Head of Sales at Emaar Properties, General Manager of Emaar Saudi Arabia, Head of International Business at Damac Properties, as well as prior consulting experience at JLL.
On the strategic deal, El Akabi said: "We are deeply confident in the vision and leadership of Omar Gull, who brings invaluable experience in the Dubai real estate market. The remarkable speed and scale at which Cledor has grown in under a year is testament to its vast potential."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Insider
2 hours ago
- Gulf Insider
Iran Plans To Abandon GPS & Replace
Recent reports in Mideast regional media say that Iran is actively exploring abandoning GPS technology and instead adopting China's main navigation satellite system, BeiDou. Such a drastic change can't be accomplished overnight, however, as the world's dominant system (GPS) has long been embedded in Iranian industries and technology. US-based and Western technology firms dominate such telecoms and mapping tech infrastructure, and the June 12-day conflict saw Iranian vessels in the Persian Gulf experience repeated disruptions of GPS signal – and it's believed the system was utilized by Israel and the US to track and target Iranian officials. Iranian officials were already worried about reliance on GPS even before the war, but the conflict has only heightened existing concerns – enough to race for alternatives. After all, the Global Positioning System (GPS) was literally an invention of the US Department of Defense in the 1970s and is currently run under the Space Force. 'At times, disruptions are created on this [GPS] system by internal systems, and this very issue has pushed us toward alternative options like BeiDou,' Ehsan Chitsaz, deputy communications minister, told state media earlier this month. He confirmed that the government is working on a plan switch transportation, agriculture and the internet from GPS to China's BeiDou, according to Al Jazeera . The same report emphasizes that 'Since 2013, whistleblowers and media investigations have revealed how various Western technologies and schemes have enabled illicit surveillance and data gathering on a global scale – something that has worried governments around the world.' It's also only a natural trajectory that Iran would become increasingly more trusting of tech based out of China, India, or Russia – as opposed to that of the United States and Israel's close Western allies. Russia, for its part, hopes its national or regional satellite navigation system GLONASS can spread, especially among allied populations. As for BeiDou, it's seen as going hand and hand as a major tech tool with President Xi's ambitious Belt & Road Initiative (BRI) which has been making inroads across Asia and Africa. Al Jazeera aptly concludes in its report that 'Iran's possible shift to BeiDou sends a clear message to other nations grappling with the delicate balance between technological convenience and strategic self-defence: The era of blind, naive dependence on US-controlled infrastructure is rapidly coming to an end.' 'Nations can no longer afford to have their military capabilities and vital digital sovereignty tied to the satellite grid of a superpower they cannot trust,' the report adds. Indeed the Edward Snowden NSA leaks of many years ago also confirmed that this trend has been a problem for decades, and more recently Israeli companies have also made huge leaps in developing hidden spyware embedded in what's presented as civilian products and software. Also read: UN Watchdog Chief Believes Inspectors Will Return To Iran This Year After Europe Meeting
Gulf Insider
15 hours ago
- Gulf Insider
Saudi EV Buyers Have Tesla As Choice - How Soon Before More Chinese Brands Join In?
More Saudi car buyers are in the mood to give EVs a chance with more dealerships in the Kingdom set to announce tie ups with leading Chinese carmakers to speed up the process. After what seems like a long gestation period, Tesla finally opened its first outlet in April, while Saudi-backed luxury EV brand Lucid Motors has done some of the preparatory work in creating a conducive environment for non-fuel automotive options. But as happened in UAE, a range of Chinese-made EVs are set to be introduced in the Gulf's biggest car market over the coming months. (In the UAE, more than 10 Chinese EV brands made their debut starting late 2023/early 2024 and until now, and many of them have started to pick up buyer backing for them.) By end 2024, new car registrations of EVs in the UAE made up around 4%-5%, according to estimates – in Saudi Arabia, it was 1% of new car sales. 'Saudi banks are starting to offer favourable EV auto financing options, and dealers are working with insurers to come up with buyer-friendly packages,' said a dealer source. 'The UAE auto market created the blueprint to launch and push new EV brands. It can easily be replicated in a market like Saudi Arabia.' The Saudi car market is expected to account for 600,000 plus units a year by the end of the decade. If EV sales can make up 10%-15% by then, the game is on, say auto analysts. 'The EV penetration in Saudi Arabia is relatively low compared to UAE,' said Vishal Pandey, Director of Dubai-based Glasgow Consultancy Group. 'However, given the emphasis from Saudi Government on electrification, there is high likelihood that growth is going to be faster. 'There is still a perception issue among Saudi consumers in regards to EVs, as they are concerned about the high cost of acquisition, charging infrastructure, and the after-market service. Plus, there is also the resale value.'
Gulf Insider
a day ago
- Gulf Insider
Action Labs CEO Shaikha AlSeddiqi: Helping Businesses Thrive
At Action Labs, Co-Founder and CEO, Shaikha AlSeddiqi, and her team are all about setting the trend rather than following it. The Bahrain-based Growth Consultancy is leading the charge with AI, insight, and agility to transform business across key industries. Shaikha tells us more. Now in its third edition, Business Leaders in the Middle East brings together sharp insights from across the region. These aren't mere interviews; they're windows into how leadership is evolving in a world shaped by rapid digital transformation. Technology touches nearly every industry now, and these leaders show us how to navigate change with purpose. Before 2021, we were running a creative agency. But when the COVID-19 pandemic hit, we noticed a clear shift. More CEOs and board members started approaching us not for running campaigns, but for strategic and technical guidance. We had prior experience running a tech company so, we were able to blend that technical know-how with our creative capabilities. It became clear that there was a real need for a partner who could speak both languages, creative and technical, with a genuine interest in helping businesses grow. That's when the transition to a consultancy started to make sense. Over the past two years, we've reached several significant milestones. We've won multiple global awards, but what matters more is the impact we've had on our clients. We've helped transform several FinTech brands into market leaders, achieving million-dollar growth in less than a year; that, to us, is our biggest accomplishment.T oday, we work with some of the largest financial institutions in Bahrain and across the region. We've also launched our own FinTech podcast, Swalef Tech, which is now gearing up for its second season with a major global sponsor on board. On the tech front, we're making serious investments in AI. Our teamis incredibly passionate about it. Infact, our co-founder recently launched a regional think tank dedicated to exploring how AI can address social and economic challenges in the Gulf. It's something we're very proud of, and it reflects our long-term vision to stay ahead and create meaningful, lasting impact. One of the toughest challenges we faced was scaling. While it all looked exciting from the outside, success came with a lot of pressure behind the scenes. We found ourselves working non-stop, often competing with global firms. There were times it felt like we were living at the office. What helped us get through it was our core team. We've been together for years and have built a strong foundation of trust and support. That kind of camaraderie makes a huge difference when you're facing tough times. It helped us maintain our culture and keep going. The biggest takeaway for us was simple but powerful: if you're not evolving and innovating from within, someone else will. That mindset fuels everything we do. We constantly ask ourselves: how do we improve? How do we create more impact? How do we stay relevant and efficient? Staying agile has always helped us stay ahead. Resistance to change is human nature. People naturally cling to what they're familiar with. That said, most of our clients today are surprisingly open to innovation especially given how quickly technology is evolving. We work closely with them every step of the way, helping them adopt to new tools, platforms, and shifting mindsets. We see ourselves as one team with our clients, growing together. Our approach to data and growth and it creates a faster, more responsive feedback loop, and that's rare. AI and digital transformation are nolonger buzzwords. They're redefining how value is created, delivered, and measured. We always say that software is just software; it's all about how you use it. Many companies today are underestimating just how fast AI is moving. Some global organisations already complete 50 percent of their operations using AI, replacing human roles in the process. We're very hands-on with the latest public and beta-stage technology – both software and hardware. For us, AI isn't just a trend; it's a tool we're actively integrating into our work. We're making sure both our business model and our team are future-ready. It's a top priority for us and for our clients. We were early adopters of platforms like TikTok and have worked directly with their team for years. What surprised us was how slow some regional brands were to adapt. Many waited too long; even when the data was right there. There's still a gap in understanding how consumer behaviour has evolved. Take second-screen behaviour; it's often seen as a challenge, especially for long-form content. But it actually reveals what today's consumers are looking for: speed, ease, and personalisation. Attention spans have collapsed. If you thought you had ten seconds, now you've got two. That impacts everything: your messaging, creative execution, and platform strategy. Hyper-personalisation is no longer optional. It's expected. So we've made it a priority for all our clients, helping them turn that shift into a powerful growth opportunity. More Insights
