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Real Estate

The Real Estate division offers third party management services as well as managing the Group’s own property assets, including Dubai’s original mixed use development and one of Dubai’s iconic landmarks - Almulla Plaza, built in the 1980s. The division has emerged as a significant property management operation.

Real Estate
Group interest in the property sector started as early as the late 1960s, when the Group developed and built its own properties to meet the growing needs of the embryonic business divisions within the Group at that time.

The pace quickened considerably through the late 1990s into 2000s, as the Dubai economy grew strongly and accelerated the development of the Group’s business operations, stimulating new Group-wide demand for real estate.

The division grew substantially in response, developing its own land bank with a wave of new construction projects including staff accommodation, especially in response to demand from the Group’s healthcare business division.

For its internal and external clients, a dedicated real estate team provides services and support, including full facility management and maintenance services, supplemented by specialist third parties operating in key areas such as security.

Almulla Group is one of the first property management companies to register with, and work alongside RERA – Dubai’s Real Estate Regulatory Authority

Project Management

When it comes to new developments for the Group, the real estate team uses its substantial experience to the full, working with building designers/architects and then project managing the development to completion, at which point a specialist team takes over the management role of the final, completed property asset.

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This integrated approach to property development and management pays dividends for the entire Group. Experienced and expert input at the design and construction stage of a new development means that the real estate team can plan-in a high level of standardisation across Group property assets for the benefit of the Group.

With a portfolio of land still available for development, and as the Group continues to expand and develop, further property development projects may be undertaken with the support of the real estate division. These will be focused on residential and commercial developments only.

Facilities Management

The real estate team splits the facilities management role into two components: housekeeping – which covers safety, gymnasia, swimming pools – and maintenance, across the Group property portfolio.

Property Management

Property management is the prime focus of the team and this takes the form of preventive maintenance – in which each building under management prepares its own regular reports to identify any potential issues, to ensure effective asset management.

The division is constantly seeking to improve maintenance standards across the portfolio and to adopt best practices across the Group property portfolio – as well as sharing the benefit of this expertise and experience with its third party clients. The protocol for water tank cleaning in residential properties (an important health and safety management issue in any development) has been adopted from the Group’s healthcare experience in managing a leading private hospital and reflects the team’s ability to take a standard and learning from one part of the Group to another, and beyond.

405, 4th Floor | Almulla Building | Baniyas Street | P.O. Box 59 | Deira, Dubai | United Arab Emirates
Phone+971 (04) 2288822   Fax+971 (04) 2289990   Mailare@almulla.com

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