RMS Capital Investment, an international real estate alliance comprising Emirati, Azerbaijani, and Turkish partners, has announced the launch of its first project. This project marks a new phase of the Verdana development by Reportage Properties.
The alliance includes Reportage Properties from the UAE, Turkey’s Mesa Holding, and Azerbaijan’s Sabah Investment Group. Together, they plan to invest an estimated $600 million across these three markets.
This announcement was made at a press conference in Dubai, where the alliance revealed plans for its second project along the Caspian Sea in Baku, part of the Arabian Ranches Sea Breeze initiative in Azerbaijan.
Commitment to sustainable development
During the press conference, Andrea Nucera, Managing Director of Reportage Properties, emphasized the alliance’s commitment to developing innovative and sustainable real estate projects. He stated that the UAE’s real estate sector offers exceptional investment opportunities, supported by a favourable environment for international investors.
“Dubai is a global investment destination that attracts investors and wealthy individuals from various countries, especially with the recent initiatives aimed at stimulating investments in the UAE,” Nucera said.
He also highlighted the growth of “Reportage Properties,” noting that their sales increased to Dhs 3.7 billion ($1 billion) in 2023, up from Dhs 2.3 billion in 2022, marking a growth of over 60%. The company’s portfolio includes 50 projects across the UAE, Egypt, Turkey, Morocco, Saudi Arabia, East Africa (Rwanda, Uganda), and Azerbaijan.
Future prospects and strong demand
Mert Boysanoglu, CEO of Mesa Holding, stated that the partnership aims to establish a strong global presence by developing major projects in the near future, leveraging the expertise of the three companies. The initial projects are set to be launched in Dubai, Istanbul, and Baku between 2024 and 2025, with total investments of $600 million.
Orkhan Mustafayev, CEO of Sabah Investment Group, added that the alliance’s projects will offer significant investment opportunities and foster new partnerships. He anticipates strong demand for the upcoming developments in the UAE, Turkey, and Baku.
In this alliance, Reportage Properties will hold a 34% share, while Mesa Holding and Sabah Investment Group will each hold 33%. The acronym “RMS,” representing the three brands, symbolizes their shared vision of trust, quality, customer satisfaction, sustainability, innovation, and social contribution.
tanvir@dubainewsweek.com
