Bloom Holding, a group of companies with an established portfolio of developments in the UAE and abroad, has reported robust growth across its key business segments in 2016, tripling its holdings revenue and quadrupling the property sales volume, said a top official.

During the past year, the Group strengthened its presence across a wide range of sectors spanning real estate, education, hospitality, healthcare and property-related services.

"We are delighted with the strong 2016 performance of our subsidiaries. The continued sales growth, owing to the successful launch of Faya and Bloom Heights, contributed significantly to Bloom’s outstanding results in the real estate arena," remarked Sameh Muhtadi, the chief executive of Bloom Holding.

One of its subsidiaries, Bloom Properties focused in the development of integrated sustainable communities, attributed its excellent performance to the ability to align its offerings with market requirements, demonstrating an in-depth understanding of end-user demand.

"Despite some softening in the market, we have remained focused on properties and introduced multiple drivers of growth in other sectors. In line with its long-term vision, Bloom Holding will pursue an aggressive growth and diversification strategy in 2017. We are confident we will continue to create and capture new opportunities in the year to come for our key stakeholders,"said Al Muhtadi.

The Abu Dhabi-based company capitalised on its solid credentials in the real estate market as a trusted master developer of high-quality properties - with the completion ahead of schedule and delivery of several significant projects that registered a high uptake from investors in Abu Dhabi and Dubai.

"While Bloom Properties will remain focused on adding value for its customers through offering the right product in the right location at the right price, it also seeks to leverage its diverse portfolio of projects to attract more investors from new markets, especially in Asia," remarked the top official.

"At Bloom, we offer investors the ideal platform to diversify their holdings with a reputable regional brand," he added.
 
Last year, the company marked a major milestone in delivering Phase Three of the Bloom Gardens master development prior to its scheduled handover in the first quarter.

The project comprises 147 residential units ranging from three-bedroom townhouses and semi-detached three-bedroom villas to four- and five-bedroom detached villas. Available on a freehold basis to UAE nationals, the development has recorded high demand from home buyers and investors alike due to its exclusivity and unparalleled location on Abu Dhabi Island, said the statement from Bloom.

New projects launched in 2016 – including Faya at Bloom Gardens and Bloom Heights in Dubai’s Jumeirah Village Circle (JVC) – witnessed strong investor interest as well, resulting in the sellout of 90 per cent of Faya and 80 per cent of Bloom Heights within one week of their launch.

The company has started the enabling works of Bloom Heights ahead of schedule which the group expects to help maintain its solid track record of delivering projects before the planned completion date.

In addition, construction is progressing rapidly on both Park View and Soho Square - mixed-use developments on Saadiyat Island in Abu Dhabi, located in the vicinity of the New York University Abu Dhabi campus and several major upcoming tourist attractions, said the company statement.

Bloom also experienced substantial growth in its leasing activity, especially in the second half of 2016, mainly due to the addition of Bloom Residences at Bloom Central and Bloom Marina developments to its leasing portfolio.

The company reported a 15 per cent increase in this segment as of January 2017, and expects the trend to continue throughout the year – as a direct result of its robust business model and proactive leasing strategies, it added.-TradeArabia News Service