Amwaj International, a multi-national conglomerate with 10,000+ employees across 27 cities, acquired an 18% stake in Clédor, marking its entry into UAE real estate and valuing the firm at US$100 million post-money, less than a year after Omar founded it.
In its first year Clédor secured AED 2.3 billion in gross development value across 1.3 million sq ft of projects, and sold out its debut AED 435 million launch in four days. Under the partnership, Clédor manages and spearheads Amwaj's upcoming real estate ventures in the UAE. “Dubai provides the ideal environment for entrepreneurs to dream big and scale quickly,” Omar said of the deal.
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