< PreviousPOWER 150 108 JUNE 2025 Murad Saleh leads AMWAJ Development with a clear-eyed strategy focused on purposeful growth, sustainable development, and market responsiveness. Since launching the real estate arm of Aurora Prime Investment Group in April 2024, he has steered the company through an ambitious debut, introducing two mid-luxury residential projects, Starlight Park and The Cube Residence that achieved full sell-out within months of launch. Now, AMWAJ is entering a new phase, developing ultra-luxury communities of higher value, starting with its fl agship Gate Eleven launched in May 2025, which marks the launch of the developer’s third project. Located in Meydan District 11, the project targets both investors and end-users, off ering fl exible payment plans and strong ROI potential. With over $136 million (AED500 million) already invested, AMWAJ is on track to cross $272 million (AED1 billion) in development by 2026, delivering more than 2.5 million square feet of residential space across Dubai. Under Saleh’s leadership, AMWAJ is also embedding sustainability into its brand identity. This is evident in its fl agship CSR initiative, Preserving the Pollinators of the UAE, launched in collaboration with Green Gardenia Landscaping and One Hive Group. The programme supports bee conservation and biodiversity through their branded bee hive adoption program, pollinator-friendly gardens, and educational outreach, aligning with key UN Sustainable Development Goals. With three projects in its pipeline—Starlight Park, The Cube Residence, and the newly launched Gate Eleven—AMWAJ is steadily expanding its footprint. Backed by a clear focus on delivery timelines and growing demand, AMWAJ is working to meet buyer appetite with a measured, build-to-sell approach. AMWAJ’s fi rst two projects, Startlight Park & The Cube Residence, were valued at over $109 million (AED400 million)” MURAD SALEH CEO, AMWAJ DEVELOPMENT 44 CW_June2025_68-124_Developers (Power 150)_13613998.indd 10804/06/2025 19:47POWER 150 JUNE 2025 109 Dr Husam Mohamed Alameri leads Baraka Real Estate Development with a clear focus on strategic growth, market expansion, and sustainable practices. In 2024, the company achieved a signifi cant milestone with the international launch of The Bay Residence 2. At home, Baraka signed a key agreement with Miral to develop residential areas on Yas Island, expanding its footprint in Abu Dhabi’s prime waterfront locations. The Bay Residence also made progress; Phase Two was launched in May 2024. The new phase introduced luxury units—ranging from apartments to townhouses and penthouses with resort-style amenities such as infi nity pools, fi tness centres and landscaped gardens. The company ended 2024 with a healthy project backlog. These span residential, commercial and hospitality sectors, with a clear focus on luxury living, sustainability, and integrated community experiences. Dr. Alameri also champions Baraka’s CSR agenda, which includes sustainable building practices, employee training and participation in local events to foster community relations and promote real estate investment. Overall, his leadership continues to align with the company’s growth, broader community and environmental goals. Looking to 2025, the company anticipates steady growth, supported by favourable market trends, especially in Abu Dhabi, where property values are expected to rise between four–six per cent annually. Baraka champions sustainable growth, global expansion and exceptional living through visionary real estate development. We’re building more than projects, we’re building communities with purpose” DR HUSAM MOHAMED ALAMERI GENERAL MANAGER, BARAKA REAL ESTATE DEVELOPMENT 45 CW_June2025_68-124_Developers (Power 150)_13613998.indd 10904/06/2025 22:24POWER 150 110 JUNE 2025 Union Properties has marked a standout year of progress and profi tability under the direction of Eng Amer Khansaheb. In 2024, the company reported an operating profi t of $44 million (AED161.8 million), a 59% increase year-on- year, while total comprehensive income reached $107 million (AED395 million). This success was driven by disciplined cost control, debt restructuring and strategic divestments, including $354 million (AED1.3 billion) in land sales. The company repaid $197 million (AED723 million) in liabilities and cut fi nance costs by over 70%. A major milestone last year was the launch of Takaya, a $545 million (AED2 billion) mixed-use development in Motor City. Spanning over two million sq ft, the project integrates smart infrastructure, green design and aff ordable luxury housing. Takaya represents the fi rst phase of Union Properties’ $1.63 billion (AED6 billion) development pipeline. Under Khansaheb’s guidance, the company has built a robust backlog worth $1.09 billion (AED4 billion) and posted 2024 revenues of $144 million (AED528.7 million). The group’s subsidiaries— including ServeU, Dubai Autodrome and The Fitout—also delivered record performances. Beyond business growth, Khansaheb has prioritised sustainability and social impact. In 2024, the group implemented signifi cant ESG initiatives, such as installing over 5,000 solar panels at Dubai Autodrome and launching paperless systems and eco-cleaning robots at ServeU. Community-focused eff orts also included retrofi tting projects that achieved up to 30% reductions in energy and water usage. Contracts worth more than $16 million (AED61 million) were awarded during the year across Takaya and Dubai Autodrome. These results refl ect Khansaheb’s commitment in driving demand. Takaya will feature three residential towers off ering 788 units, alongside a 500-metre retail boulevard” ENG AMER KHANSAHEB CEO & BOARD MEMBER, UNION PROPERTIES PJSC 46 CW_June2025_68-124_Developers (Power 150)_13613998.indd 11004/06/2025 22:24POWER 150 JUNE 2025 111 Samer Ambar, CEO & Co-founder of REEF Luxury Developments, has led the company through the successful rollout of three key projects in the last nine months— REEF 1000, REEF 999 and REEF 998. Yet, more important than simply launching these projects is the innovative solution at their core: REEF’s patented innovation and technology to climate- controlled outdoor spaces. This breakthrough invention not only redefi nes year-round comfort and usability for residents even in the summer months, but also introduces a sustainable approach with a reusable steel structure. REEF Luxury Developments’ standout features are its patented Sunken Balconies and Winter Gardens with outdoor cooling, a fi rst-of-its-kind concept that allows residents to enjoy outdoor living all year round in Dubai. Currently, REEF Luxury Developments has secured a substantial land bank that will introduce approximately 5,000 residential units to Dubai. The company plans to launch projects valued at around $1.36 billion (AED5 billion) by 2025, with an ambitious aim of unveiling thirty projects aligned with the UAE’s robust real estate market. REEF Luxury Developments appeals to fi rst- time buyers and seasoned investors seeking substantial returns, thanks to the value provided by its innovative concepts. Under the leadership of CEO Samer Ambar, REEF Luxury Developments aligns with H.H. Sheikh Mohammed bin Rashid Al Maktoum’s vision to position Dubai as a global hub for innovation and excellence. With a strong foundation of innovation, community focus, and strategic growth, REEF Luxury Developments’ future is promising. REEF properties off er year- round outdoor living with sunken balconies, winter gardens with cooling innovation” SAMER AMBAR CEO, REEF LUXURY DEVELOPMENTS 47 CW_June2025_68-124_Developers (Power 150)_13613998.indd 11104/06/2025 19:47POWER 150 112 JUNE 2025 CW_June2025_68-124_Developers (Power 150)_13613998.indd 11204/06/2025 19:48POWER 150 JUNE 2025 113 Faruh Kurbanov is an entrepreneur, investor, and philanthropist whose career refl ects a sharp business acumen combined with a deep commitment to social impact. With over two decades of experience in construction and real estate, Kurbanov has built a diverse portfolio that spans large-scale residential and commercial projects, educational centres and community- focused initiatives. Kurbanov began his entrepreneurial journey in 2007, establishing a business producing metal- plastic windows and aluminium structures. It was a modest start, but one that laid the foundation for his understanding of the construction process. As his career progressed, Kurbanov recognised how the built environment infl uences lifestyles, prompting a shift from manufacturing components to creating residential communities and offi ce spaces. In 2018, alongside his partners, Kurbanov launched FBK Construction, an in-house construction arm that has since delivered over 20 projects, covering multi-unit residential buildings, commercial properties, and socially driven developments. Under his leadership, FBK Construction has developed more than 500,000 square metres of real estate. Innovation is a key pillar of Kurbanov’s approach. He has championed the use of robotics, AI and process automation across his projects, enabling residential complexes to be completed within just six to eight months. Kurbanov’s work goes beyond commercial development. His belief—“Live and benefi t others” drives his commitment to building community- focused projects. He played an active role in the design and construction of the SANA Bilim, Sana Urpaq and Sana Edu educational centres, all privately funded. These centres have become hubs for learning, sports and community engagement, serving as spaces where children and teenagers develop skills and interests, and where local communities come together. In 2021, Kurbanov co-founded the Mereke Charitable Foundation to support families in need and foster youth development. The foundation has reached over 3,500 families, providing essential items such as food, clothing, and school supplies. Through Mereke, Kurbanov has also facilitated free courses at the SANA Bilim centre, with over 230 children attending classes at no cost. Kurbanov has now diverted his focus on international expansion, bringing his construction philosophy to Dubai’s real estate market. In 2024, he co-founded DIA Properties in the UAE. His fi rst project under DIA, LuzOra, is a residential complex on Dubai Islands. Featuring an outdoor infi nity pool, electric vehicle charging stations, golf carts for residents and smart home management systems, LuzOra also off ers an investment model designed for high returns. Two-bedroom units can be converted into independent modules for short- term rentals, enabling investors to earn up to 14% annual returns. For Kurbanov, business and social value are inseparable. Every project he leads is an opportunity to improve lives, foster community, and create long-lasting impact. My belief has always been simple: Live and benefi t others. That’s what drives my commitment to building community-focused projects” FARUH KURBANOV CO-FOUNDER, DIA PROPERTIES 48 CW_June2025_68-124_Developers (Power 150)_13613998.indd 11304/06/2025 19:48POWER 150 114 JUNE 2025 Mohammad Rafi ee leads Richmind with a clear focus on quality and purpose. In the past year, Rafi ee has guided the company through several key milestones, including securing a highly sought-after plot on Al Marjan Island and appointing Zaha Hadid Architects as the lead architectural consultant. These achievements, along with partnerships with HBA, Cracknell and Dewan, were secured even before Richmind offi cially launched, demonstrating Rafi ee’s ability to build trust and attract top-tier collaborators to a new brand. Richmind’s fi rst project, Oystra, refl ects the company’s design-led approach, with the schematic design phase now complete. He also successfully orchestrated the brand’s offi cial launch at Atlantis The Royal, drawing industry attention and reinforcing the company’s vision. Outside the realm of real estate, Rafi ee has also led Richmind’s initiatives in arts and community engagement, aligning closely with the company’s ethos. These include acquiring a football team in Ras Al Khaimah, led by a former German and FIFA legend to engage youth and promote the city’s global profi le. Additionally, Richmind has launched a radio competition in Dubai to spotlight homegrown musical talent, giving local artists a platform to showcase their work. With a projected revenue of $160 million for 2025, and an expected growth to over $730 million in the next two years, Rafi ee’s leadership remains focused on careful expansion, prioritising quality and long-term value over volume, an approach that refl ects both his commitment to excellence and the brand’s customer-fi rst philosophy. Richmind’s fi rst project, Oystra, refl ects the company’s design-led approach, with the schematic design phase now complete” MOHAMMAD RAFIEE CEO, RICHMIND 49 CW_June2025_68-124_Developers (Power 150)_13613998.indd 11404/06/2025 22:24POWER 150 JUNE 2025 115 Yulia Loshchukhina, CEO of AYS Developers, has led the company through a landmark year marked by bold achievements and impactful milestones. In April 2025, she oversaw the launch of AYS Developers’ expansive new 8,000+ sq. ft headquarters at the prestigious Business Central Towers in Dubai. This was followed by the company setting a Guinness World Record in May 2025 for hosting the largest real estate training in the world. Over the past 12 months, Loshchukhina has spearheaded the successful completion of two major residential developments—Q Gardens Boutique in Arjan and Q Gardens Lofts 1 in Jumeirah Village Circle—delivering a combined value of $73.4 million (AED 270 million). Looking ahead, she is leading the launch of the Heritage Collection, an exclusive series of ultra- luxury developments valued at $272 million (AED 1 billion) on Dubai Islands. A passionate advocate for community upliftment, Yulia has expanded the company’s CSR eff orts with initiatives including free meal distributions, internships for underprivileged youth and future plans for an autism centre and youth sports programmes. Her leadership continues to shape AYS Developers into a purpose-driven, high-impact player in Dubai’s real estate sector. YULIA LOSHCHUKHINA CEO, AYS DEVELOPERS 50 Ahmad Yar Group, with over 30 years of experience across industries like oil, gas, logistics, and construction, has built a foundation of trust and delivery across the region. Its entry into real estate continues that trust. Led by CEO Rashed Ahmadyar, the company has seen rapid growth with over $98 million (AED360 million) in new developments, driven by investor confi dence and timely execution. His leadership is marked by a clear focus on quality, ethical practices, and building lasting community value, setting the tone for a brand that prioritises long-term relevance over short-term gains. After delivering Palatium Residences in JVC, Ahmadyar Developments turned toward the shoreline with Vestoria Bay, its signature coastal development in Dubai Islands. Designed with a focus on spatial clarity and natural fl ow, Vestoria Bay draws from the movement of water and the openness of island living. It introduces a lifestyle shaped by calm environments, layered architecture, and enduring design, continuing the company’s commitment to building with precision and a clear sense of purpose. With several new projects underway, the company remains focused on shaping communities that refl ect both future demand and lasting value. RASHED AHMADYAR CEO, AHMADYAR DEVELOPMENTS 51 We unveiled our coastal fl agship development, Vestoria Bay, in Dubai Islands” In May 2025, we set a Guinness World Record for hosting the largest real estate training in the world, with a focus on Dubai’s 2040 vision” CW_June2025_68-124_Developers (Power 150)_13613998.indd 11504/06/2025 22:24POWER 150 116 JUNE 2025 N eeraj Mishra has led AMIS Development through a year marked by project launches and execution, as well as incredible sales success. In a major milestone, Mishra entered a strategic partnership with Singapore’s First APAC Fund VCC, which involved signing a Memorandum of Understanding (MoU) to invest up to $1.36 billion (AED5 billion) in AMIS. The partnership refl ects the Fund’s confi dence in Dubai’s real estate market and AMIS Development’s reputation for high-value luxury developments. Under his leadership, the company delivered its fl agship Woodland Residences. The $116 million (AED425 million) branded luxury villa community in Meydan signifi es a turning point in luxury real estate, heralding a milestone collaboration between AMIS and Laminam. This partnership brings Automobili Lamborghini- branded surfaces to grace every villa within the project. Earlier this year, AMIS also launched two new developments in Meydan: Woodland Terraces, a residential project valued at $35 million (AED 130 million), and Woodland Crest, a $27.3 million (AED 100 million) development. Under his strategic management, AMIS plans to launch a series of new projects in 2025. Mishra also oversaw the opening of a new sales centre on Sheikh Zayed Road. This new centre serves as a hub to showcase AMIS’s portfolio, allowing potential investors, clients, and partners to engage directly with the company’s off erings, fostering stronger client relationships. Overall, AMIS Development’s strategic partnerships, successful project launches, and an expanding portfolio suggest a strong fi nancial trajectory. Woodland Residences was sold out within a week of its launch in January 2024” NEERAJ MISHRA FOUNDER & CEO, AMIS DEVELOPMENT 52 CW_June2025_68-124_Developers (Power 150)_13613998.indd 11604/06/2025 19:48POWER 150 JUNE 2025 117 Wissam Breidy, CEO of HRE Development, has been steering the firm through a year marked by bold launches, strategic partnerships, and a deep commitment to community impact. Under Breidy’s leadership, HRE Development has cemented its presence in Dubai’s real estate landscape with the launch of major projects, including Skyhills 1, 2 and 3, as well as Astra, each a testament to the company’s focus on high-quality residential living in key growth areas. While HRE’s projects are currently under construction, with handovers scheduled for Q2 2026, Breidy has already laid the foundation for a robust development pipeline and long- term growth strategy. The company exited 2024 with a clean slate, having no project backlog, which reflects its disciplined execution and focus on delivery timelines. Beyond commercial pursuits, Breidy has championed several CSR initiatives that refl ect HRE’s values. In the past year, HRE partnered with Dubai Cares, pledging $8.17 million (AED30 million) to support education for children globally. The company also sponsored the UAE national team for people with determination and signed an agreement with the Dubai Land Department to empower female entrepreneurs through specialised training and incentives. Additionally, HRE aligned with the initiative launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, to support the construction and care of mosques across the UAE. Breidy’s vision continues to shape HRE’s path, blending commercial ambition with a strong sense of social responsibility. HRE partnered with Dubai Cares, pledging $8.17 million (AED30 million) to support education for children globally” WISSAM BREIDY CEO, HRE DEVELOPMENT 53 CW_June2025_68-124_Developers (Power 150)_13613998.indd 11704/06/2025 19:48Next >