The Dubai-headquartered business conglomerate will manage investments in numerous sectors, including real estate and construction, on behalf of regulated funds from the Middle East and Far East regions.
Arthur & Hardman, the group’s property development arm, intends to deliver 1,000 hotel apartment units in Dubai’s Jumeirah Village Circle (JVC) to cater to growing demand in the lead-up to Expo 2020.
Samir Salya, chairman of Reign Holdings, predicts that the emirate’s short-term rental market will witness significant growth in the run-up to the world’s fair.
READ: Expo 2020 refurb projects boosting Dubai’s hospitality sector
“We expect the market to continue growing even once [Expo 2020] is over, as it is a growing economy and the population is increasing,” said Salya. “My advice to those who are delaying their plans to purchase a property in Dubai is that the waiting period is over. They should start acting now or else they are likely to miss the boat.”
Commenting on Arthur & Hardman’s hotel apartment development plans, Salya continued: “Our next projects will allow us to deliver over 1,000 units at our four-star hotel apartments in JVC in the next three years,” said Salya. “We are currently in talks to partner with a few well-established Italian restaurant chains for the new developments. This project will ensure investors [receive] a guaranteed 9% ROI [return on investment] per annum.”
To date, the group has delivered approximately 400 units in Dubai Sports City under its Giovanni Boutique Suites brand. The related projects all boast an Italian theme.