Global real estate group to invest $600 million in 3 countries
Announces first project in Dubai
RMS Capital Investment, an alliance formed by leading real estate firms from the United Arab Emirates, Azerbaijan, and Turkey, has officially launched its inaugural luxury real estate project in Dubai.
The alliance includes the UAE’s Reportage Properties, Turkey’s Mesa Holding, and Azerbaijan’s Sabah Investment Group. Reportage Properties holds a 34% stake in the coalition, while Mesa Holding and Sabah Investment Group each possess 33%.
The alliance’s abbreviated name, “RMS,” consists of the first letters of the three brands and symbolises their shared vision, which includes trust, quality, customer satisfaction, sustainability, innovation, and social contribution.
The new phase of the Verdana real estate project, developed by Reportage Properties, marks the beginning of a significant investment initiative totalling $600 million across three key markets.
The announcement was made at an international press conference held in Dubai, where the plans for future projects were revealed. From 2024 to 2025, the projects are set to be developed in Dubai, Istanbul, and Baku.
The next venture will be located on the shores of the Caspian Sea in Baku, within the Arabian Ranches Sea Breeze project.
Reportage Properties’ portfolio includes 50 projects in the UAE, Egypt, Turkey, Morocco, Saudi Arabia, Rwanda, Uganda, and Azerbaijan.
Andrea Nucera, Managing Director of Reportage Properties, highlighted the UAE’s attractive investment climate, encouraging local and international developers to explore promising opportunities.
He noted a remarkable 60% increase in sales for Reportage Properties, which reached $1 billion in 2023, compared to AED 2.3 billion in 2022, a more than 60% growth. During the first six months of the current year, their sales exceeded AED 3 billion.
Mert Boysanoglu, CEO of Mesa Holding, expressed the alliance’s goal to become a significant player in the global real estate market by leveraging its partners’ collective expertise.
Orkhan Mustafayev, CEO of Sabah Investment Group, anticipated strong demand for the new initiatives, emphasising the alliance’s commitment to delivering exceptional investment opportunities.
Featured image: The chief representatives of Reportage Properties, Mesa Holding, and Sabah Investment Group address a press conference in Dubai on September 29, 2024. Credit: Arnold Pinto
