Amwaj International, a global billion-dollar group with over 10,000 employees and a presence in 27 cities, has acquired an 18% stake in Dubai-based real estate development firm Kleindor. Founded by seasoned property expert Omar Ghul, Kleindor is now valued at $100 million post-funding following this strategic investment.
This move marks Amwaj International’s first official entry into the UAE’s booming real estate sector. The company’s Chairman and Founder, Namir Al-Aqabi, has led real estate ventures exceeding $60 billion over the past three decades. This new partnership will position Kleindor to lead Amwaj’s upcoming projects in the UAE, leveraging its expertise in luxury development.
The investment will also help Kleindor attract top talent, manage operating costs, and benefit from Amwaj’s international team, global supply chain, and strategic insight to accelerate growth.
Dubai’s property market is experiencing unprecedented growth, with over AED 760.7 billion in real estate transactions across 226,000 deals in 2024 alone. The rise is driven by foreign direct investment, strong demand for high-end properties, and a business-friendly regulatory environment.
Commenting on the partnership, Omar Ghul said:
“Dubai offers an ideal ecosystem for entrepreneurs. In just one year, Kleindor secured AED 2.3 billion in development value across 1.3 million square feet. We sold our first project—worth AED 435 million—in just four days. Our collaboration with Amwaj International will supercharge our growth and solidify our place in Dubai’s luxury real estate market.”
With a proven record of over $30 billion in sales, Omar Ghul has held key leadership positions at Dubai Holding, Emaar Properties, Emaar Saudi, DAMAC, and JLL.
Namir Al-Aqabi expressed confidence in the partnership, saying:
“We fully believe in Omar’s vision and leadership. The speed and scale Kleindor achieved in just one year reflect tremendous potential. We’re excited to support this journey and contribute to reshaping the UAE’s real estate future.”
While Dubai remains Kleindor’s main focus, the company is also eyeing emerging markets in East Asia and Eastern Europe for future expansion. Amwaj International currently holds nearly 20 million square meters of land for future developments, aiming to deliver 50,000 housing units to accommodate 200,000 people. To date, the group has invested $2.4 billion in real estate assets in Iraq alone.
