Luxury Dubai developer reports sales boost despite coronavirus crisis

Luxury Dubai-based developer Omniyat has reported an increase in sales transactions over the past three months despite the impact of the coronavirus pandemic.

Mahdi Amjad, founder and executive chairman of Omniyat, hailed the “trust of international investors” as he said the company, which targets ultra high net-worth individuals (UHNWIs), had posted “enhanced conversion” of its luxury sales without elaborating.

In a video posted on the official Dubai Media Office Twitter page, he also said Omniyat was preparing to deliver the “ultimate lifestyle experience” in Dubai.

Over the next two years, ultra-luxury hospitality brand Dorchester Collection will link up with Omniyat to run its first property in the Middle East.

The development in Downtown Dubai includes a residential component comprising of 39 apartments.

Dorchester Collection will also manage One at Palm Jumeirah, Omniyat’s luxurious residential tower located on Palm Jumeirah and home to a penthouse which sold for AED102 million.

The UAE property will join the company’s portfolio of world-famous hotels in locations including London, Rome, Beverly Hills and Paris.

Mahdi Amjad, founder and executive chairman of Omniyat

In the video, Amjad also praised the UAE’s leadership for its “exceptional” handling of the coronavirus crisis which he described as the biggest global challenge for 100 years.

Omniyat delivered its The Opus by Zaha Hadid project last year.

Located in Business Bay, the striking buildings are made up of two glass towers connected by a ground-floor podium and a glass and steel bridge, and includes over 56,000 square metres of office space, a club, several restaurants and a hotel.



Book Viewing

Booking Valuations