The H Holding Enterprise has officially launched its real estate arm in Dubai, UAE, which will specialise in property development, asset management and related services in the Middle East.

Hafeez Abdullah, the chairman, said: “We decided to venture into real estate in Dubai because we believe the emirate is a global hot property destination. The new arm will be providing integrated services and consultancies in real estate development.”

"The company got an overwhelming response from our stakeholders at The H Holding Enterprise, which owns huge investments in sectors like entertainment and hospitality in the region," noted Abdullah.

"We see an amazing interconnection between real estate and hospitality industry, and this gives us a great edge to develop our business," he added.

In addition to its main activity in the real estate development and management of real estate assets, the company will leverage the inter-dependence between the real estate sector and the hospitality industry to provide tailored services to the hotel industry as well as end-users.

Abdullah pointed out that the luxury residential apartments in the UAE were highly valued compared to other modern cities in the world.

The price of 100 sq m of luxury apartments in the UAE was equal to 6.02 times the GDP (gross domestic product) per capita, compared with 29.19 in Jordan, 28.44 in Egypt and 34.29 in Lebanon, he stated citing the latest annual report of Global Property Guide.

Abdullah said that the UAE has a slew of new real estate projects catering to residents as well as investors and the projects are supported by world-class infrastructure.

"The H Holding Enterprise sees promising signs in the hospitality sector in Dubai at a time when the emirate plans to attract 20 million tourists by 2020," he added.

It has huge investments in tourism facilities and hospitality sector through a range of entertainment attractions.-TradeArabia News Service