Omniyat is a real estate development and service group in the Gulf Region. It was established in 2005 by Mahdi Amjad. Residential, commercial, & hospitality spaces are their expertise. Omniyat is on a mission to redefine luxury living. They come up with innovative design & offer exceptional service.

Their focus is on setting benchmarks for innovation and sustainability. "Creating distinct livable art in Dubai" is their motto. It reflects their commitment to transforming luxury living.

Omniyat Plans to Double Portfolio to $27B in the Next 5 Years

Omniya has property portfolio of Dh40 billion. The company has set an ambitious target to increase this figure to Dh100 billion. Omniyat plans to focus on luxury properties to achieve this goal. At least half of the new value added would be based on these. The remaining Dh50 billion will be allocated to investments in other areas like hospitality sector. They have planned projects throughout the UAE & the broader GCC region.

This strategic expansion reflects a commitment to enhancing market presence. Omniyat plans to capitalize on emerging opportunities across diverse property segments.

The company has confidence in the ultra luxury marke. It is backed by the successes of the similar property types in Dubai. Omniyat plans to launch 2 new ultra luxury projects in Dubai this year. A combined value of Dh10 billion is set aside for these.

This optimism is supported by significant growth in the luxury property segments over the past 2 years. There were 948 transactions in the luxury property segment in the first month of 2024. These valued at Dh15 million or more each. These sales were concentrated in high demand areas such as Palm Jumeirah & Muhammad bin Rashid City.

The Sales Have Been Through the Roof

Omniyat has made headlines with notable high value sales. These include a Dh139 million penthouse sold at The Lana Residences in May. This follows the launch of Orla Infinity last year. It is a part of the $2 billion Orla collection at Palm Jumeirah.

These achievements show the capability of Omniyat. They deliver premium properties that cater to the luxury market demands. The Lana Residences offers a unique combination of luxury & exclusivity. And it is on a prime location. The Orla Infinity project features exceptional amenities. 

UAE developers are increasingly targeting the growing luxury real estate sector. In February Emaar announced 2 new luxury projects. These include The Heights Country Club & Grand Club Resort. The combined value of these were Dh96 billion.

Arada developer also launched sales for the Armani Beach Residences at Palm Jumeirah. There has been a recent surge in the ultra luxury market. But there is still significant growth potential in Dubai compared to other major global cities.

Government policies & a rising population of millionaires is expected to reach 6700 by year end. These stakeholders support this segment.

Dubai is a prime real estate market & it has set a record last year. $10 million plus home sales happened nearly doubling to $7.6 billion. The market outperformed cities like London & New York.

Omniyat Growth Potential in Dubai

There has been a sharp rise in the ultra luxury market over the past 2 years. But the significant growth potential still remains. Real estаte prices in Dubai are considerably lower compared to other major cities. This makes it an attractive option for property investors.

UAE government policies aim to attract top global talent. This increases the demand for high end properties. A recent survey projects that 6700 millionaires will move to the UAE by year end. It improves Dubais position as the top destination for the wealthy for the 3rd consecutive year.

Conclusion

Omniyat has an аmbitious plan to more than double its property portfolio to Dh100 billion. It is seen as a significant & timely move in the Dubai real estate market.

This expansion will strengthen the Emirates status as a global luxury real estate hub. It is expected to attract more investment to the region. Experts say that the focus on ultra luxury properties aligns with current market trends. High net worth individuals seek exclusive & high end real estate. Omniyat expects to capitalize on that in the near future.