Firm earmarks $200 million as part of a strategy to “support the property industry and attract new investors and start-ups”
Medallion Associates, a Dubai-based real estate and investment advisory firm is aim to increase its assets in the UAE to $4 billion in 2022, “taking advantage of the investors’ sustained interest in the local market.”
To entice more foreign direct investments (FDIs) in real estate technologies, the company has also allocated a fund worth $200 million. This complements the firm’s goal of attracting at least $7 billion in FDIs to the UAE.
Dubai’s real estate sector has experienced an upward trajectory in 2021 driven by various factors such as the influx of Expo 2020 Dubai visitors, the fast recovery of the industry beyond expectations, and the rising number of foreign and local investments entering the UAE, noted the firm.
Masood Al Awar, CEO, Medallion Associates, said: “We are very enthusiastic about the upcoming year and have established goals to increase sales and asset portfolio. As we have seen in this entire year, the market has thrived, and we are eager to contribute to the country’s real estate sector with our new offers and strategies. One of the main aspects that we are looking forward to is the investment in real estate technology.”
“Expo 2020 is an economic booster for the real estate sector. Dubai has recorded more than 8 million visitors at Expo 2020 as of December 1, and we expect the numbers to grow further. Visitors and investors alike are provided with a glimpse of the local property investment landscape during the event, further solidifying the UAE’s status as one of the leading hubs for investments in the region,” he added.
The earmarked $200 million is part of Medallion Associates’ strategy to support the property industry and attract new investors and start-ups. This move comes amid increasing deployment of next-generation technologies in commercial real estate, particularly artificial intelligence (AI) and blockchain. Through its sizeable fund allocation, the firm seeks to unlock the potentials of these technological advancements as the benchmark for the industry’s sustainable and innovative future.
It is also confident that the property market will sustain its growth amid higher investment flows into the country driven by its robust infrastructural development and economic diversification efforts, business-friendly regulations, and strategic location.
Al Awar added: “We are witnessing growing interests from international investors through our offices in London, Malaysia, and Pakistan. With Dubai expected to positively demonstrate sustained economic progress in 2022, foreign direct investments (FDIs) will grow further. Adding to its attractiveness are the UAE’s overall stability, recent visa reforms, attractive market pricing, and long-term return on investment. We at Medallion Associates value our relationship with foreign investors and our established global networks. We seek to leverage this solid relationship we have built with our partners over the years to facilitate further and contribute to the growth of the UAE’s property market while expanding our asset portfolio.”
“In the coming year, we will continue to innovate real estate products and solutions to bring in more capital to the country. We are confident we can help strengthen the growth of the real estate market in the Emirates through our expansion plan next year,” Al Awar added.