In the Philippines, we have several giants including Ayala Land, SMDC, Megaworld, Double Dragon and DMCI among many others.
But what about the real estate developers among other countries, particularly the Middle East? As of 2013, more than half (53 percent) of OFWs work in the Middle East. While the eligibility and financial requirements would greatly differ from one country to another, the possibility of an OFW wanting to buy a property is not remote.
Why Middle East?
The Middle East has now a set of prominent business hubs attracting large investments in many business sectors including ICT, finance, manufacture and construction. Dubai is definitely one of these hubs. It pioneered the region and stayed the only investment destination for a quite long time, but now more cities rose to the scene aiming at grabbing a share of the cross region capitals like Bahrain and Qatar.
To help you, in case you made a great fortune there and plan to buy a property in the near future, we'll list down the most prominent real estate companies in the Middle East that you should consider:
When talking about Middle East’s real estate companies, we couldn’t start without mentioning Emaar. This UAE-based company established a large client base covering GCC nationals, Arabs, and foreigners in a record time. It gained customers’ confidence by launching unique real estate projects of different sectors and delivering them to buyers on time.
Emaar has launched affiliate companies in many of the Middle East countries including Saudi Arabia, Egypt, Morocco, Turkey, and other.
2. Dar Al Arkan
An international real estate developer headquartered in Saudi Arabia, Dar Al Arkan has a lot of iconic developments in many countries inside and outside the Middle East. The company is the largest in KSA in respect of market value. Launched in 1994 in Riyadh, Dar Al Arkan’s track record has many projects in all Saudi Arabia’s mega cities like Riyadh, Jeddah, Mecca, and Medina. Moreover, the company launched a set of projects in Dubai.
3. DAMAC Properties
Founded by the famous Emirati businessman Hussain Sajwani in 2002, Damac took advantage of the booming property market in Dubai and built its name in a couple of years to turn to a notable landmark developer known in the whole Middle East region.
4. Talaat Moustafa Group Holding
Egypt’s number one builder, with a land bank of 50 million square meters, is known for launching different sorts of developments including hotel, closed mixed use communities, stand alone structures and recreational projects among other.
They joined Egypt’s stock exchange market in 2007 and it has many subsidiaries like Alexandria real estate company, San Stefano Real Estate company, Alexandria for Urban Development, in addition to shares in other property development companies.
5. Bin Faqeeh
Dubbed as Bahrain’s number one real estate developer, this despite being a relatively new builder, Bin Faqeeh now is the most popular in the small island kingdom with the biggest property portfolio.
With its big supply of properties, Bin Faqeeh boosted the number of Bahrain flats that are either for rent or for sale. The company aims to take Bahrain real estate market to the next level by targeting customers in neighboring Arab countries and also foreign countries. It plans to open sales offices in Egypt, Jordan, India, and Russia to promote its products in Bahrain.
Doha-based real estate company established in 2005 and has a great role in the current urban modification process taking place in the Qatar. 45 percent of the company is owned by Qatar Investment Authority.
The company is known for many real estate projects like Mesaieed project, Mesaieed, and Barwa Al Baraha.
7. Groupe Addoha
The biggest real estate conglomerate in Morocco that has numerous residential communities scattered throughout Morocco is the Groupe Addoha, which works principally in delivering economic residential products. It also has prominent activity in hotel sector and high-end properties.
Are you planning to invest in Middle East's booming real estate? Receive cool updates like this when you subscribe to PisoandBeyond!