By Morara Kebaso
A United Arab Emirates property development firm is targeting Kenyans interested in buying property in the Middle East as Gulf countries heighten their hunt for investors in the country.
Deyaar Development is seeking Kenyan investors interested in prestigious residential projects in the UAE, mainly those targeting high returns over the long term.
Kenya’s strategic location is seen by investors as a major gateway to Sub-Saharan Africa.
Deyaar is also attracted by Kenya’s stable macro-economic environment and a steadily growing affluent class that makes the country an ideal investment target.
“As well as that, Kenyans are seeking long-term investment opportunities, and Dubai real estate is considered a safe asset class with a strong return on investment,” a statement from the company reads.
The company’s Chief Executive Officer, Saeed Al Qatami is particularly keen on the Kenyan investors.
Many wealthy Kenyans have properties abroad, and Dubai is second only to London as their top global real estate location.
At Deyaar Development’s disposal for investors in Dubai is an array of the most prestigious properties in Dubai. The Atria is a 32-storey residential tower and a luxury serviced apartment tower in Business Bay – an exciting social and commercial hub with views of the Dubai Water Canal.
The Atria’s interiors are designed by YOO Studio, an international design house. The YOO studio is a unique design house with experience of cutting edge design in over 24 countries. Headed by Marki Division, the studio’s experience is enhanced by its diversity of over 20 architects, interior and product designers with big imaginations, providing a choice of looks and styles to suit the lifestyles of today’s modern dwellers.
Mont Rose, comprising two residential towers and a hotel-apartment tower in Dubai’s Al Barsha South, will be part of the project showcase in Kenya.
So, too, will Midtown, a new integrated urban community in Dubai Production City where Deyaar has already launched two phases of the development, with two more planned.
The UAE’s tax-free status, as well as the stable political environment and well-diversified economy, makes it a leading overseas investment destination. At 8,500 wealthy personalities, Kenya has the fourth highest number of dollar-millionaires in Africa, with that number expected to rise sharply over the next decade.
Deyaar is a semi-Government company listed on the Dubai Financial Market with a 41 per cent share ownership by the Dubai Islamic Bank.
Deyaar is visiting Kenya as part of a roadshow that is taking the company to key overseas investor
markets, including China and India.
Meanwhile, the Kenyan economy is expected to continue growing steadily at about 5 per cent annually.
Over the past 16 years, Deyaar has developed 7 million sq/ft of real estate in the country, with 7 million sq/ft more under development. The developer’s projects are sited in some of Dubai’s fastest-growing, most sought-after urban corridors.
Deyaar has already built more than 4,700 residential and commercial units in the UAE, with over 4,200 more under construction.
In reaching out to the world’s investor community, Deyaar believes it offers a product unmatched in the market and located in one of the most stable, safe and prosperous nations on the planet.