Dubai – Sharikat Mubasher: Amwaj International, a global conglomerate with operations in 27 cities and over 10,000 employees, has acquired an 18% stake in Dubai-based real estate firm Cledor.
As per a recent press release, the deal values Cledor at $100 million and marks Amwaj’s strategic entry into the UAE’s booming property market.
Founded by real estate veteran Omar Gull, Cledor has quickly made its mark, securing AED 2.3 billion in Gross Development Value and selling out its first luxury development—worth AED 435 million—in just four days.
The investment will fund Cledor’s growth, help attract top talent, and support operations as it leads Amwaj’s upcoming UAE projects. Cledor will also benefit from Amwaj’s global network and procurement capabilities.
Amwaj, which has invested $2.4 billion in real estate in Iraq, plans to develop 50,000 housing units across 20 million sqm of land, aiming to accommodate 200,000 residents. Cledor is also eyeing expansion into Far East Asia and Eastern Europe.
