Dubai’s realty market continues to witness rapid expansion

October 31, 2023

Dubai presents a compelling proposition for real estate investment for international and Gulf clients. The persuasive blend of factors converging to form this enticing opportunity include the UAE’s tax-free environment, a thriving economy, a robust tourism sector, attractive, buoyant real estate pricing and the presence of top-tier developers to deliver a client’s dream home.

Together, these elements highlight Dubai as a secure, steadfast, and highly profitable destination for investments in real estate. In the same context, GRID Properties the real estate development arm of Gulf Islamic Investments group (GII), a Dubai-based alternative asset management company with $3.5 billion of assets under management, expects Dubai’s real estate market to continue to witness a rapid expansion. GRID Properties has a development portfolio exceeding $930 million and collaborates with global brands like Elie Saab and Marriott Autograph.

They operate from their Dubai headquarters and are known for emphasising quality, integrity, and global standards in property development. “We at GRID Properties are focused on several landmark events this and next month. We will launch our Dubai residential development portfolio next month.

Before that, we expect to reach a significant stage later this month in our development of The Lucan property in the Royal Borough of Kensington and Chelsea, demonstrating that we are on track for our clients to move into those prestige properties in one of London’s most iconic locations early next year,” said Shreen Gupta, CEO of Grid Properties. GRID Properties expects the rest of 2023 and early 2024 to be an exciting time as its portfolio develops apace, and new clients and investors understand the compelling value proposition that GRID offers.

Its $930 million portfolio comprises 29 projects – 10 completed, 13 in progress, with 6 expected in 2023. They operate from their Dubai headquarters and are known for emphasizing quality, integrity, and global standards in property development. “At GRID Properties our differentiator as a property developer is offering “Styled for Living”, an individualised concept for our clients who are as at home in Dubai as they are in Chelsea. People base their lifestyles on personal values, interests, circumstances and goals, which can affect every aspect of one’s life.

Critical elements such as home décor, clothing choices, daily routines and social interactions shape, reflect and support one’s favourite way of living. GRID Properties aims to support and enhance those choices, whether in the UAE or the UK,” added Gupta.

GRID Properties has a hybrid business model, with its portfolio encompassing a mix of activities. These include real estate development projects for residential towers, developing commercial spaces, and enhancing warehousing facilities for private realtors and investors. They also specialise in crafting customised villas and mansions for high-net-worth individuals.

Pankaj Gupta

CO-FOUNDER & CO-CHIEF EXECUTIVE OFFICER

GULF ISLAMIC INVESTMENTS

Having consistently played crucial roles in regional asset building and investment growth, Pankaj’s main role encompasses leadership, strategy, business, and people. His unique grasp of industry nuances and innovative eye for detail has been pivotal in the company’s increasing success.

Pankaj derived leading theoretical and practical insights by managing assets of Royal Families and other high net-worth Individuals. A firm believer in the power of encouraging new ideas and supporting education business ventures, Pankaj has been involved in numerous company start-ups and business development projects in both advisory and Board Member capacities.

Mohammed Mansour Al Hassan

CO-FOUNDER & CO-CHIEF EXECUTIVE OFFICER

GULF ISLAMIC INVESTMENTS

Mohammed Alhassan is a well-networked individual with close ties to government and executive circles, including prominent members of the GCC’s banking, financial institutions and sovereign funds communities. He has over a decade of experience in Islamic Investment Banking across the GCC, spanning the Private Equity, Infrastructure and Real Estate sectors across the GCC, Europe, and the US.

Mohammed played an anchor role in establishing Gulf Islamic Investments (GII) in 2014 with responsibility for company leadership and strategy. At GRID, Mohammed is originating unique investment opportunities for investors to access real estate, technology, and private equity across the globe.

Shreen R Gupta

GRID Properties

Partner and Chief Executive Officer

Shreen leads GRID Properties, bringing over 25 years of experience in development and construction to spearhead its executive operations, With development-specific experience in London and Dubai, he hails from a design management and construction planning background.

Shreen has led and delivered developments across the hospitality, residential, masterplans, resorts, commercial, and retail sectors, from feasibility to delivery. His experience in working in different geographies and knowledge of market regulations and behaviour has helped to deliver over 20,000 property units across 10 countries.