UAE-based hospitality firm H Holding Enterprise has officially launched its property arm, Omega Real Estate, a company that specialises in real-estate development, asset management and related services in the Middle East.

Announcing the launch, Hafeez Abdullah, the chairman of The H Holding Enterprise, said the new firm Omega aims to establish a real estate portfolio of Dh500 million ($136 million) by end of 2015.

"We strongly believe that real estate will remain the hottest investment in the UAE for the coming decade, and that is why we decided to invest in this new venture. Real estate is widely regarded as a sound investment, especially by people with easy liquidity," remarked Abdullah.

"We foresee increased regional demand for UAE realty as the understanding and knowledge attained over years by investors go hand in hand with the expertise of the real estate developers and the regulatory measures of the Dubai Land Department (DLD)," he added.

According to him, the regional and international investments were the key drivers of the UAE real estate industry, aided by the maturity of the market, and all this will contribute to further growth of the sector.

Nahid Dabirchian, a regional industry veteran, has been appointed as the general manager of the new company. During her tenure in the region, she held several senior positions as a planner for strategic policies and sales aand marketing management, including as director of sales (real estate development) at Damac Holding.

Welcoming her on board, Abdullah said: "We believe that her strong background as a senior professional at leading UAE real estate companies will be a key factor in helping us achieve our goal of becoming one of the leaders in the Arab world and beyond, driven by the proven expertise of The H Holding Enterprise."

On her new role, Dabirchian said there was huge potential for the company to take a front seat in the property industry in the region.
"We have tremendous experience from the top of the pyramid represented by the experience of our chairman Abdullah, to the bottom. This combined expertise and experience will certainly drive the company forward at a rapid pace," she noted.

"2014 was a positive year for the realty market in the UAE in general and Dubai in particular. The sector has generated higher demand for properties across many new locations. We know for sure that our investors have strong belief in what the UAE has to offer in the coming decade as far as real estate in concerned," she added.-TradeArabia News Service