Abu Dhabi’s real estate sector has witnessed a significant development with the recent acquisition of Lamar Residences, a luxury mega project located on Al Raha Beach in the Seef district. Ethmar International Holding (EIH), a prominent property firm, has seized this opportunity to maximize its investment in the thriving real estate market of the city. With a sales volume of approximately AED 1 billion ($272 million), including the shareholders’ returns, the acquisition demonstrates EIH’s commitment to expanding and diversifying its business scope while supporting the UAE’s real estate sector.
Expanding Business Scope and Attracting Investments: EIH’s real estate subsidiary, I Properties, spearheaded the acquisition of Lamar Residences as part of the group’s strategic expansion plan. Ali El Gebely, MD and Group CEO of EIH Group, emphasized that the acquisition aligns with their vision to meet the demands of both local and regional markets. By strengthening their position as a prime investment location, EIH aims to leverage the operational and market capabilities of the group while attracting investments in the Gulf region and globally. This move reflects the growth and development of the real estate industry in the United Arab Emirates, which presents ample opportunities for high-quality projects and investments that contribute to the national economy.
Benefits and Opportunities: Lamar Residences, situated on Al Raha Beach in Abu Dhabi, is a large-scale residential project that offers an array of benefits to residents and investors alike. Comprising four residential buildings on a shared waterfront platform, the project boasts a total of 435 residential units, including 30 villas. Its strategic location provides easy access to a range of amenities, entertainment hubs, parks, and dedicated children’s areas. These features make Lamar Residences an attractive destination for those seeking a luxurious lifestyle and investors looking to capitalize on the city’s thriving real estate market.
The Consistency of Abu Dhabi’s Investment Climate: The acquisition of Lamar Residences serves as a testament to the consistency of Abu Dhabi’s investment climate. The country’s economic growth has fueled the development of numerous large-scale residential and commercial projects, providing opportunities for local and international investors. EIH’s decision to acquire Lamar Residences underscores the value of having more high-quality projects that contribute to the country’s economic prosperity. It further highlights the stability and attractiveness of Abu Dhabi’s real estate sector, making it an ideal destination for individuals and businesses seeking fruitful investment opportunities.