Emirati Entrepreneur Sets up Real Estate Company Aimed at Selling Ultra-luxury Mansions in Dubai
Emirati entrepreneur Abbas Sajwani has launched an uber-luxury real estate company, AHS Properties, with a total asset value of more than $100 million, just ahead of Cityscape – the region’s leading property exhibition that takes place annually in Dubai.
Spotting an opportunity to meet rising demand for ultra-luxury properties, the Dubai-based AHS Properties is selling premium estates in Emirates Hills, as well as beachfront villas on Dubai’s exclusive Palm Jumeirah. The Company currently has four luxury villas in its portfolio, of which three are being valued at AED 80 million each and the fourth valued at more than AED 150 million.
Sajwani, Founder of AHS Group, the parent group of AHS Properties, said, “Today, we are excited to launch AHS Properties to enrich Dubai’s luxury property offerings, which is growing in demand and set to boost sales growth in 2021.”
The UAE’s rapid response to the COVID-19 pandemic has attracted the world’s wealthiest investors, who continue to flock to Dubai, snapping up the most expensive homes in locations such as the Palm Jumeirah and Jumeirah Bay, according to Knight Frank.
This has played a big part in driving up villa values, with villa prices in Dubai provisionally up by 5 percent in the third quarter of 2021. The number of homes worth more than $10 million that have been sold in the emirate currently stands at 54, breaking the previous record of 31, set in 2015.
AHS Properties’ asset portfolio comprises sought-after and high-end properties which includes the uber luxurious Amara Villa at Emirates Hills worth AED 150 million ($40 million). The mansion has 45,000 sq. ft. of built-up area and living space with seven en-suite bedrooms. It is designed to offer everything a resident wants within a short drive from the most famous tourist attractions and business hubs in Dubai such as Palm Jumeirah, Mall of the Emirates and Expo 2020 Dubai.
The 12,500 sq. ft. Azalea Villa located on Palm Jumeirah, built with natural materials and textures, has six en-suite bedrooms and its own pool, gym, gardens and bar.
“The launch of AHS Properties comes at an exciting time in Dubai, as they city welcomes millions of people from around the world at Expo 2020. There has been exceptional growth of high-net-worth end user buyers who are looking to move to Dubai which will definitely boost demand for luxury properties in the short and medium term,” Sajwani added.
Abbas Sajwani is the son of Hussain Sajwani, founder of DAMAC Group, a successful conglomerate that has a diverse portfolio ranging from capital markets, hospitality, data centres, fashion, retail and, of course, real estate.
At a young age, Abbas has followed in the footsteps of his father and demonstrated acute prowess as a budding entrepreneur. He was only 18 years old when set up AHS Group in 2017.
The AHS Group’s portfolio includes Ventures, Properties and Investments. The company’s objective is to be one of the leading business groups in the Middle East by 2025.