Dubai Holding establishes new corporate entity, Sama Dubai

Sama Dubai's mission will be to leverage synergies across international real estate activities, to create a portfolio of world-class interlinked real estate businesses.

Sama Dubai will assume immediate control of Dubai International Properties (DIP) as the first element of the company's portfolio. The new company will manage local, regional and global real estate investments. This will be done either directly or indirectly and will include the formation of joint ventures to maximise returns through efficiencies across operations and financing.

"The creation of Sama Dubai will allow Dubai Holding to leverage key expertise and experience from the real estate sector and apply it to the many investment opportunities we have identified internationally," said the Executive Chairman of Dubai Holding, His Excellency Mohammad Al Gergawi.

"We have decided to launch Sama Dubai with a wider mandate than that of Dubai International Properties, to capture the growth of the real estate sector locally and internationally. In addition to launching new projects in select markets, Sama Dubai will also invest in various project and opportunities in many of the real estate-related sectors."

"I believe that Sama Dubai will create significant value for Dubai Holding as we continue to diversify and develop our activities both at home and abroad," added Al Gergawi.

Farhan Faraidooni, CEO of Sama Dubai, said "Today marks a significant step forward in the real estate sector not only of Dubai but also internationally. We have been planning Sama Dubai for the last year. The research that we undertook clearly showed the company will be able to establish itself very quickly in a dominant position in global real estate investment through strategic and focused investment activities - many of which have already been identified."

"I am honoured to have been selected to lead this company which is an integral part of Dubai Holding. I am very confident that we can look forward to rapid and highly successful growth over the coming months and years," added Faraidooni.

Sama Dubai will sit alongside other specialist Dubai Holding investment companies, including Dubai International Capital and Dubai Investment Group. Each specialises in its own key investment area, with Sama focused exclusively on investment in the real estate industry.