Amwaj International’s Strategic Dive into the UAE Real Estate Market
Introduction to the Acquisition
In a bold move to expand its global footprint, Amwaj International, a multi-national conglomerate based in the UAE, has acquired an 18% stake in Cledor, a Dubai-based real estate development firm founded by the industry-savvy Omar Gull. This investment, announced on April 22, 2025, is valued at a post-money valuation of USD 100 million, marking a significant entry for Amwaj into the vibrant UAE real estate market.
Amwaj International: A Powerhouse
Amwaj International boasts an impressive global presence, with operations in 27 cities and a workforce exceeding 10,000 employees. The conglomerate is notable for its diverse portfolio, encompassing sectors such as real estate, energy, and infrastructure. With over 30 years of experience, it has successfully directed investments worth more than $60 billion across various industries. This latest investment signifies Amwaj’s strategy to enter one of the world’s most dynamic real estate markets.
The Vision of Cledor
Led by Omar Gull, Cledor has rapidly established itself in the luxury real estate sector. Within a year of its inception, the firm has amassed an impressive AED 2.3 billion in Gross Development Value (GDV), translating to over 1.3 million square feet of developed projects. The firm’s exceptional ability to execute is exemplified by the four-day sell-out of its first project, valued at AED 435 million. Cledor’s expertise in luxury development will play a critical role in managing Amwaj’s upcoming ventures in the UAE.
A Growing Real Estate Market
The real estate sector in Dubai is witnessing unprecedented activity. In 2024, the city recorded more than AED 760.7 billion in real estate transactions, a record high. This growth is driven by foreign direct investments, a rising demand for luxury properties, and a favorable regulatory framework that fosters business opportunities. With its tax-free income and streamlined business environment, Dubai continues to attract international firms eager to seize the opportunities presented by its robust market.
Partnership for Growth
The collaboration between Amwaj and Cledor is strategically aimed at harnessing Dubai’s booming real estate market. The funds from Amwaj will facilitate Cledor’s operational needs while allowing it to focus on recruitment and project management until liquidity is achieved. Furthermore, Cledor will benefit from Amwaj’s global network of professionals and extensive procurement capabilities, which are poised to accelerate growth and expand market reach.
Insights from Industry Leaders
Omar Gull, the founder of Cledor, emphasized the advantages of operating in Dubai’s unique landscape. With immense potential for growth and speed in execution, he remarked, “Dubai provides the ideal environment for entrepreneurs to dream big and scale quickly.” His extensive experience in real estate sales, with a track record exceeding USD 30 billion, positions him as a formidable leader in the field.
Namir El Akabi, the Founder and Chairman of Amwaj Group, expressed confidence in Gull’s vision and leadership. He highlighted Cledor’s quick ascent in the market as evidence of its vast potential and underlined the excitement surrounding their partnership, which aims to redefine the UAE’s real estate sector.
Future Aspirations
While Cledor’s primary operations will remain centered in Dubai, the firm is also keen on exploring emerging markets in regions like Far East Asia and Eastern Europe. This growth strategy aligns with Amwaj’s ambition to deliver approximately 50,000 residential units to accommodate 200,000 residents across future projects spanning 20 million sqm of land in the UAE.
Amwaj’s Real Estate Investments
To date, Amwaj has set aside around $2.4 billion for real estate assets in Iraq, encompassing residential, retail, and office properties. This commitment demonstrates Amwaj’s focus on substantial investments in diversified markets while strategically expanding its reach into the UAE, a laborious effort aimed at driving innovation and development.
About Amwaj and Cledor
Amwaj International thrives as a billion-dollar conglomerate, dedicated to delivering value across various sectors through impactful investments. In contrast, Cledor, with its focus on luxury properties and market responsiveness, is rapidly establishing itself as a key player in Dubai’s real estate landscape.
