Sweid & Sweid expands in Austin, Texas
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With a presence in both the United Arab Emirates and the United States, Sweid & Sweid continues to serve as a bridge between regional development expertise and investment capital in the US
Dubai-based Sweid & Sweid has completed its first phase of apartments at The Nelson, a 370-unit multifamily development nestled in the Austin, Texas submarket. With a presence in both the United Arab Emirates and the United States, Sweid & Sweid continues to serve as a bridge between regional development expertise and investment capital in the US, the firm said.
'Our activity in the US is a long-term strategic diversification play. We currently see great opportunities in both markets, albeit driven by different forces. In the US, the tight supply pipeline driven by high interest rates and low construction starts is predicted to create an acute shortage in the coming years,' said Maher Sweid, Managing Partner of Sweid & Sweid. 'In contrast, Dubai is witnessing a significant amount of oncoming supply, but the demand growth has been impressive and unprecedented.'
For Sweid & Sweid, The Nelson represents the latest chapter in a growing portfolio of UAE and U.S. projects. With a track record of identifying opportunities in high-growth, economically diverse markets, the firm continues to expand its footprint across both countries. 'Ultimately, we believe that disciplined capital, applied at the right moments in the cycle to the right product, will continue to generate outsized returns,' added Sweid.
Austin's real estate market is at a critical juncture. After years of rapid development, new construction in the city has slowed down considerably, while demand remains strong. According to CoStar, the first quarter saw the strongest absorption rate ever recorded, with 5,470 units sold. However, new construction starts have dropped to their lowest level since 2011, indicating a significant tightening in the supply pipeline.
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