Amwaj International Enters Dubai’s Property Scene with $100M Cledor Stake

Editorial Team

Last updated 23-04-2025

3 min

Amwaj International purchased an 18% stake in UAE developer Cledor, valuing it at $100 million.

Cledor will manage upcoming Amwaj projects, boosting its capacity to attract industry talent.

The partnership grants Cledor access to Amwaj's global teams and extensive supply chain networks.

Amwaj aims to develop 50,000 residential units, accommodating around 200,000 residents.

This expansion reflects Dubai's growing luxury property market and new development opportunities.

Dubai's property scene got a fresh injection of confidence this week, as Amwaj International snapped up an 18% stake in UAE developer, Cledor, in a deal pegging Cledor's valuation at an impressive $100 million. It's the first major move into the thriving Emirates property market for Amwaj, a firm already renowned for its expansive portfolio in real estate projects worldwide.

The move aligns neatly with Amwaj's ambition to broaden its horizons in one of the globe's most buoyant real estate markets. Over the past three decades, under the sharp stewardship of founder and chairman Namir Al-Uqabi, Amwaj International has overseen more than $60 billion worth of development projects—quite a staggering figure by anyone's standards.

Through this strategic partnership, Cledor will now helm upcoming Amwaj projects across the UAE, tapping into their own specialised knack for high-end property developments. What's more, the investment is set to bolster Cledor’s ability to attract the industry's top-tier talent and manage their operational budgets comfortably until their planned developments start bringing in substantial revenue.

With access to Amwaj's global professional teams, extensive supply chain networks and considerable know-how, Cledor will undoubtedly see their growth trajectory accelerate significantly in the coming years. Although Dubai remains Cledor's primary stomping ground, the firm isn't shy about eyeing new opportunities farther afield—in emerging property hotspots across East Asia and Eastern Europe, to name a few.

For its part, Amwaj International harbours some ambitious targets, setting their sights on developing around 50,000 residential units, enough accommodation for approximately 200,000 residents. The company has already thrown a hefty sum into the Iraqi real estate sector alone, with investments there reaching around $2.4 billion covering all corners of the market from residential and commercial buildings to modern office spaces.

Amwaj International's global footprint is noteworthy, valued at around $1 billion and supported by a workforce exceeding 10,000 employees scattered across 27 cities worldwide—a genuinely impressive scale of operations by anyone's reckoning.

It seems property-watchers (myself included!) will be keeeping a keen eye on how this collaboration unfolds, particularly given Dubai's unrelenting appetite for luxury developments and the ever-competitive chase for prime locations. Perhaps the tie-up between Amwaj and Cledor will prove the perfect recipe for future success—like saffron adding that indispensable flavour to a classic Emirati machboos. Either way, it's certainly given Arageek readers a tasty morsel of property news to digest this week!

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