Preatoni, a leading European property developer, recently opened Preatoni Real Estate in Dubai as a strategic move to grow its portfolio in the Middle East markets.

"We have built high-class tourism and residential complexes, hotels and leisure centres worth 2.5 billion euros in the Mena region, such as the Domina Coral Bay Resort in Sharm El Sheikh Egypt," says Ernesto Preatoni, founder and chairman of Preatoni Real Estate. “We will leverage on our solid background in the real estate and finance industries in Europe and Egypt to replicate similar success stories in the Gulf market via this regional headquarter in Dubai.”

Preatoni’s group of companies is founded by Ernesto Preatoni who is also the founder of Domina, a company which owns a chain of 29 hotels in 8 countries, and has investments in different parts of the world.  Moreover, Ernesto Preatoni, the pioneering figure in finance and real estate industries in Europe and the Middle East, chairs other leading companies specialising in real-estate investment and financial services. He also serves as head advisor for Brickstone Funds, a real estate fund regulated by the European Union.

By opening its headquarters in Dubai, Preatoni aims to expand its portfolio of residential and commercial complexes, as well as hotel and touristic developments, to add to its rapidly increasing number of hotels around the world, some of which are their own properties, while others fall in ‘management’ and ‘management and franchising’ categories.

Preatoni has regional headquarters in Milano, Italy; Tallinn, Estonia; Villnius, Lithuania; Riga, Latvia; Moscow, Russia; Sharm El Sheikh, Egypt and Dubai, UAE.

Preatoni said: “The whole world is talking about Dubai; it has its own distinctive charm for tourists as well as residents. You can enjoy and do business here; that’s what makes Dubai attractive. We are very happy to be welcomed in this country. We got great support to start our company in the UAE and found it to be a very smooth experience. It’s a young country, full of energy with mature regulations and a sharp vision.”

Besides being the biggest operator of time-share resort projects in Europe, Preatoni has sold 40,000 units so far and built three massive shopping malls and 29 hotels, the statement said.  -TradeArabia News Service