Medallion Associates announced new plans and goals to expand its business in 2022 in the UAE market. The company established a $200 million fund to attract more foreign direct investment in real estate technology.
The establishment of this fund is part of the company’s endeavour to attract at least $7 billion in foreign direct investment to the UAE.
The announcement reflects the aim of the Dubai-based company of increasing its assets in the UAE to $4 billion, taking advantage of investors’ ongoing interest in the local market.
The real estate sector in Dubai witnessed an upward trend in 2021 supported by many factors such as the influx of visitors to the Emirate, especially after the “Expo 2020 Dubai” exhibition, the quick recovery of the real estate sector that exceeded expectations, and the increasing flow of foreign and local investments to the UAE markets.
Masoud Al Awar, CEO of Medallion Associates, said: “We are looking forward with optimism to the year ahead. We set clear targets to increase investments and strengthen the asset portfolio. As we have noticed over this year through our offices in London, Malaysia and Pakistan, the real estate market has witnessed a significant boom, which prompts us to contribute to the advancement of the real estate sector in the UAE through our new offers and strategies. Investing in real estate technology is one of the main priorities and key areas for us during the coming year.”
Al Awar added: “Expo 2020 Dubai gives an economic momentum to the real estate sector; As of the beginning of December, more than 8 million visitors were registered. We expect the number of visitors to increase in the coming weeks and months. Visitors and investors alike will be provided with a comprehensive view of the local real estate investment scene during the exhibition, which reinforces the UAE’s position among the leading investment centres in the region.”
$200 million has been allocated to this fund as part of Medallion Associates’ strategy to support the real estate sector in the UAE and attract more investors and emerging companies. This step also comes amid the expansion of the application of next-generation technologies in the commercial real estate market in four areas, especially artificial intelligence, “Block-chain”, cloud networks, and digital transformation. By allocating huge funds, the company seeks to unleash the potential of these technological developments as a benchmark for the future of the real estate sector in a sustainable and innovative manner.
Medallion Associates affirmed its confidence in the real estate market, maintaining growth amid the increasing investment flows to the UAE, driven by advanced infrastructure, economic diversification efforts, appropriate business regulations, and the strategic location occupied by the UAE.
Al Awar continued: “We are witnessing an increasing interest from international investors in the real estate sector in the UAE. With positive expectations that Dubai will continue to achieve sustainable economic progress in 2022, the influx of foreign direct investment is poised to gain further momentum. In addition to its investment attractiveness, the UAE enjoys general stability, a flexible system for granting visas after the recent reforms, attractive prices for the real estate market, and attractive investment returns in the long term. At Medallion Associates, we emphasise our relationship with foreign investors and our existing global networks. We seek to benefit from the strong network of relationships with our partners that have been established over the years in order to provide more facilities and contribute to the growth of the real estate market in the UAE while expanding our asset portfolio.”
Al Awar said: “We aim to continue offering innovative real estate products and solutions in the coming year to attract more capital to the UAE. We are confident of our ability to help boost the growth of the real estate market in the UAE through our expansion plan next year.”