Amwaj International has acquired an 18% stake in Dubai-based development firm Cledor, founded by industry veteran Omar Gull. The investment marks Amwaj’s entry into the rapidly growing real estate market in the UAE, with Cledor’s post-money valuation hitting $100 mn (AED 367.25 mn).
This investment is a key part of Amwaj’s strategy to expand into one of the world’s most vibrant real estate markets. For over 30 years, Namir El Akabi has successfully directed developments and investments worth more than $60 bn (AED 220.35 bn) across nearly every sector of the real estate industry.
Under the partnership, Cledor will manage and spearhead Amwaj’s upcoming real estate ventures in the UAE, harnessing its expertise in luxury real estate development. The funds will enable Cledor to attract top talent and manage operational expenses until its projects generate liquidity. Cledor will also leverage Amwaj’s global team of professionals, procurement network, and expertise to accelerate future growth.