Omniyat Property Development Corp.
Omniyat Properties Development Corporation is a division of Almasa Holdings, a diverse $500million, rapidly expanding group of companies focused on technology and real estate. Our technology companies are leaders in their fields in the Middle East and Africa. Almasa’s rapid development over the past 10 years has been acclaimed as one of the major corporate success stories in recent history, due largely to its President & CEO, Mehdi Amjad, his vision and his absolute desire to succeed in a very competitive market. In 2000 Almasa decided to diversify its investment risk and expand into other non-IT areas of business by forming a real estate business. In recognition of this vision, the International Investment Bank of Bahrain has taken a 50% stake in One Business Bay, adding their substantial reputation and credibility to this exciting project. Omniyat Properties will introduce a new philosophy to the regional property scene that capitalizes on its IT pedigree.
800-OMNIYAT (800 666 4928)
Dubai-based Omniyat, which combines its mother company's two core areas of activity to create the most technologically advanced properties in the Middle East region, announced the launch of two high-rise office towers available for sale on a freehold basis in the Business Bay district of Dubai, on Sheikh Zayed Road.
Omniyat Properties, which was formed as a result of Almasa spinning off a five-year-old real estate investment divisions, was launched December 2005 with an initial issued capital of AED150 million, and an authorized capital of AED 300 million as a wholly-owned subsidiary of Almasa Holdings.
In order to diversify its business interests and balance its investments, Almasa launched a real estate division in the year 2000. A detailed review of world markets showed that Iran's real estate scenario had a lucrative investment potential. The move proved very successful and laid the foundation for Almasa's success in the real estate market.
In 2005, Almasa decided to expand its real estate division by forming a dedicated property development company called Omniyat Properties to enter into the GCC property market. Perfectly positioned to serve the thriving GCC real estate sector, Omniyat will seek to establish a unique position and reputation for its properties by offering 'intelligent buildings' that will reflect Almasa's expertise in the field of technology. Omniyat will be integrating the two core areas of Almasa's business i.e. technology and real estate to create properties so futuristic that even the pets are robots!
Omniyat Properties has been established as a separate corporate entity with an initial share capital of AED 300 million. Taking advantage of the growing business opportunities and rising tourism potential available in Dubai, Omniyat has initially acquired four plots totalling 1.4 million square feet in the Business Bay, a new venture established by the Dubai government.
The company's vision statement will be focused on differentiation, luxury, quality and premium positioning to offer innovative products together with a world-class service to its customers through its commitment to set new quality sales and after-sales standards in the market.
Omniyat homes and offices will offer state-of-the-art-technology with a blend of futuristic architecture. Robotics and voice recognition are just some of features that will mesmerize Omniyat customers.