NAIROBI, Kenya, Feb 16 – Dubai-based firm Deyaar Development is seeking Kenyan investors for its prestigious residential projects in the United Arab Emirates (UAE).
Deyaar is visiting Kenya as part of a roadshow that is taking the company to key overseas investor markets, including China and India.
The firm is seeking wealthy Kenyans looking for long-term investment opportunities citing Dubai’s safe asset classification and a strong return on investment.
“Many wealthy Kenyans have properties abroad, and Dubai is second only to London as their top global real estate location. The UAE’s tax-free status, as well as the stable political environment and well-diversified economy, makes it a leading overseas investment destination,” the firm said in a statement.
At 8,500, Kenya has the fourth highest number of dollar millionaires in Africa, with that number expected to rise sharply over the next decade.
Among the projects the firm is showcasing in Nairobi this week include the Atriais, a 32-storey residential tower and a luxury serviced apartment tower in Business Bay – a social and commercial hub with views of the Dubai Water Canal as well as Midtown, a new integrated urban community in Dubai Production City where Deyaar has already launched two phases of the development, with two more planned.
Deyaar has built more than 4,700 residential and commercial units in the UAE, with over 4,200 more under construction.
Deyaar is a semi-Government company listed on the Dubai Financial Market, with Dubai Islamic Bank owning 41 percent of the company.