Cledor Acquired: Amwaj International Takes 18% Stake in Dubai's Luxury Real Estate Developer
Deal News | Apr 22, 2025 | Zawya
Amwaj International, a multinational conglomerate, announced the acquisition of an 18% stake in Dubai-based real estate developer Cledor, marking its strategic entry into Dubai's burgeoning real estate market. Valued at $100 million post-investment, Cledor is closely tied to the explosive growth of Dubai's real estate sector. Under this partnership, Cledor will manage Amwaj's upcoming UAE ventures, leveraging a robust portfolio including a recently sold-out project valued at AED 435 million. This move aligns with Amwaj's strategic expansion plans and highlights Dubai's appeal as a business hub with its advantageous regulatory environment and foreign investment influx. Cledor's founder, Omar Gull, brings decades of experience from leading firms like Dubai Holding and DAMAC Properties, underscoring the firm's goal to capitalize on emerging markets beyond Dubai.
Sectors
- Real Estate
- Investment Management
Geography
- United Arab Emirates – The main focus of the article is about the investment in the Dubai real estate market, which is a part of the United Arab Emirates.
- Iraq – Amwaj International has previously invested in real estate in Iraq, indicating a regional focus beyond Dubai.
Industry
- Real Estate – The article discusses significant investments and developments within the Dubai real estate market, highlighting rapid growth and investor interest.
- Investment Management – Amwaj International's investment in Cledor signifies strategic asset management and expansion into new markets.
Financials
- $100 million – The post-money valuation of Cledor following Amwaj's acquisition of 18% stake.
- AED 2.3 billion – The Gross Development Value (GDV) secured by Cledor within one year.
- AED 435 million – The GDV of Cledor's first project, sold out in four days.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Amwaj International | Bidding Company | Company | A multi-national conglomerate with strategic investments across real estate and other industries, expanding into the UAE market. |
| Cledor | Target Company | Company | A Dubai-based real estate development firm specializing in luxury properties, known for its rapid project executions and investor appeal. |
| Omar Gull | Founder of Cledor | Person | An industry veteran with a solid background in sales and leadership roles in various real estate firms. |
| Namir El Akabi | Founder and Chairman of Amwaj Group | Person | He has directed developments and investments worth more than $60 billion in real estate. |
| Keel Comms | PR | Company | The company handling media enquiries for the announcement. |