Amwaj acquires 18% shareholding in Cledor at $100mln post-money valuation
The transaction has a post-money valuation hitting $100 million, according to a press release.
This investment aligns with Amwaj's strategy to expand into one of the world's most vibrant real estate markets, with Cledor managing its real estate ventures in the UAE.
The funds will enable Cledor to attract high talent and manage operational expenses until its projects generate liquidity.
Omar Gull, Founder of Cledor, commented: 'In just under a year, we secured AED 2.30 billion in Gross Development Value (GDV) and more than 1.30 million square feet 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 AED 435 million.'
'Our partnership with Amwaj will further fuel our growth, allowing us to capitalize on Dubai's booming real estate market,' Gull added.
Namir El Akabi, Founder and Chairman of Amwaj Group, stated: 'The remarkable speed and scale at which Cledor has grown in under a year is testament to its vast potential. We are excited to support its journey and join hands in redefining the UAE's real estate sector.'
In 2024, Dubai reached an all-time high in real estate transaction values, exceeding AED 760.70 billion over 226,000 transactions. The growth was backed by foreign direct investment, an increasing demand for luxury properties, and a pro-business regulatory framework.
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