Launching Amaal in the UAE is part of Ayana Holding's efforts to diversify its portfolio in addition to assets in overseas markets.
Former Emaar Group CEO Abdulla Lahej has launched his very own turnkey real estate development company, backed by funding from Ayana Holding, which he co-founded in 2014.
According to an announcement on Thursday, Lahej indicated the developer has plans to enter the market for high-end urban apartments aimed at investors.
Amaal will oversee the complete project chain, starting from site selection to marketing, drawing on Ayana Holding’s experience in real estate investment and development, architectural design and master planning, interior design and leisure and entertainment.
Launching Amaal in the UAE is part of the holding company’s efforts to diversify its portfolio in addition to assets in overseas markets.
“We are proud to launch Amaal, an innovative force set to transform the UAE’s real estate landscape,” stated Abdulla Lahej, Chairman of Amaal and Founding Partner of Ayana Holding.
“Amaal, which signifies ‘aspiration’ in Arabic, represents our vision of creating not just buildings but vibrant communities that embody elegance, functionality, and sustainability.
“We are committed to pushing the boundaries of arc
hitectural innovation, ensuring that each project meets the highest standards of quality and caters to the modern homeowner’s evolving needs,” Lahej said.
“Amaal aims to support the UAE’s vision for sustainable development, setting new benchmarks in urban living and contributing significantly to the country’s growth and development,” he added.
Lahej was appointed Emaar Properties’ Group CEO in 2014 after joining the company as a project manager in 2000. He went on to hold the same role at Dubai Properties.