Dhs 2b Al Mazaya investment in property portfolios
07/01/2008
Al Mazaya Holding, the leading regional property developer emphasized the important role played by property portfolios in driving the continuing real estate prosper in the region, particularly those of the GCC countries.
Talking about the slow but sure important role of property portfolios are having in fueling the Gulf's current real estate progress. Executive Manager and CEO (Al Mazaya Holding) Eng. Khalid Esbaith, stated that these types of portfolios are the most vital driving force behind the development of further real estate projects - it provides technical resources and adequate funding for mega projects and their effective marketing and management tactics.
Esbaitah's knowledge in this regard is based on his company's practical experience in property portfolios and strategic alliances; a move that lead the company to reach into new markets.
For the novice, a "Property Portfolio" is similar to an "investment portfolio", where stocks and bonds issued by a shareholding company and registered in the financial market. The aim of obtaining such assets is to grow its market value by optimal investments. An investment portfolio is managed by a dedicated manager. Certificates of deposit and investment deposits are considered as parts of the investment portfolios. Categories of investment portfolios include return portfolios, profit portfolio and profit and return portfolio.
What makes property portfolios dissimilar to investment portfolios is that it is a long term investment, being either semi annual or annual - however the profits are guaranteed. The capital of property portfolio should be larger than that of the investment portfolio, as the former shall use the capital for building, leasing and purchasing of plots of land and properties.
The date of maturity must be predetermined as well as the type of investment, and whether it is a long term or short term investment. All investors should use their own capital, with no loans with a certain level of diversification of targeted industries should be considered. The market value of some shares may rise, while sometimes it is critical to restructure the components of the portfolio.
Esbaitah sees that the property portfolios and strategic alliances provide a high range of flexibility for property development and investment, as they offer diversified packages of complementary businesses which provide the necessary funding. Funding is done either by full or partial acquisition and/or the marketing and management of existing projects, and the investment in new projects, in addition to the monitoring of all the changes and developments in the market to make optimal use of the investment for the best interests of investors. This optimal use can be attained mainly by property development projects, the most secured investment vehicle that offers the fastest returns.
Al Mazaya is running a portfolio of Dhs 497.212 million for 14 investors to develop Queue Point in Dubai Land, and another portfolio of Dhs 500 million with Kuwait investors to build 500 residential villas in Dubai Land. It made a successful entry into the Omani real estate market via a portfolio of OMR 3.1 in conjunction with the Oman Development Company, for the management and marketing of its mega project in Sohar, on Al Batinah Coast of the Gulf of Oman, in addition to more forthcoming projects in the Sultanate. Al Mazaya's portfolio in the KSA is expected to reach SR 100 million. QR 500 million is the value of Al Mazaya's portfolio in Qatar, where the company's investment is projected to reach QR 2.5 billion. The home investment of the Kuwaiti company has crossed the half billion dirhams mark, while 10 double this figure is the amount of its investment in Dubai, where 90 percent of the company investment has been pumped to hit Dhs 5 billion.
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