Amwaj International Acquires 18% Stake in Dubai’s Cledor

Amwaj International, a diversified global investment firm, has acquired an 18% stake in Dubai-based luxury real estate developer Cledor. This strategic investment values Cledor at $100 million and signifies Amwaj's commitment to expanding its real estate portfolio within the UAE.

Cledor, founded and led by CEO Omar Gull, has achieved a Gross Development Value (GDV) of Dhs2.3 billion within its first year and manages over 1.3 million square feet of property.

Amwaj International brings over three decades of experience across various sectors, including real estate, energy, and infrastructure. The firm has previously committed more than $2.4 billion to real estate projects in Iraq and is now channeling its expertise and resources into the UAE market.

Under this new partnership, Cledor will oversee Amwaj's forthcoming real estate projects in the UAE, leveraging its local market knowledge and luxury development acumen. The collaboration aims to enhance Cledor's operational capabilities and attract top-tier talent, while also providing Amwaj with a robust platform for growth in the region.

Dubai's real estate sector continues to thrive, with 2024 witnessing record-breaking transactions totaling Dhs760.7 billion. The market's growth is driven by foreign investment, a surge in demand for luxury properties, and a business-friendly environment.

While Cledor's immediate focus remains on Dubai, the company is also exploring opportunities in emerging markets across Far East Asia and Eastern Europe. This expansion strategy aligns with Amwaj's broader vision of establishing a global footprint in key real estate markets.