Azmi Dabbagh, the man behind one of Dubai’s largest land deals, turns to Zanzibar for his next big move

You led one of Dubai’s most significant private land deals in 2025. How did the Dh25 billion Meydan transaction come together, and what does it say about Dubai’s real estate market today?

The deal was never just about the number, it was a reflection of what Dubai has become: one of the most competitive and sought-after real estate markets in the world. When you’re dealing with prime land in Dubai today, you’re not just negotiating over square footage, you’re navigating a space where the biggest developers are competing head-to-head for scarce, strategic plots. And they’re willing to invest billions to secure them.

The 8 million square foot plot in Nad Al Sheba 1 was one of the last of its scale and quality within proximity to the city’s core. Securing it required months of groundwork, deep market knowledge, and most importantly, trust. Transactions at this level don’t happen over coffee, they require real relationships, clear vision and an ability to align the interests of serious, long-term players.

What this deal made clear is that even in a market already seen as world-class, Dubai’s momentum is far from slowing. Demand for premium land hasn’t eased, in fact, it’s only intensified. Having been closely involved in structuring some of the city’s landmark land deals, I can say that identifying these opportunities and successfully securing them has become even more challenging.

This transaction was a turning point, it signaled that Dubai’s land market is evolving, consolidating, and becoming even more competitive. The city isn’t just expanding; it’s being redefined. Those with the foresight to anticipate where it’s headed will be the ones to shape its skyline.

With your transition from dealmaker to developer, particularly in Zanzibar, how are you applying Dubai’s model of integrated, high-return developments to this emerging market?

What makes Dubai so powerful isn’t just its skyline, it’s the lifestyle. The infrastructure, the entertainment, the safety, the attention to detail. Every part of the city is designed for experience, for quality of life and that’s exactly what we’re bringing to Zanzibar.

Zanzibar is one of the most naturally beautiful places on earth: white sand beaches, perfect weather and a deep cultural soul. But it’s been missing a certain kind of real estate offering. We’re not just replicating Dubai; we’re taking its best qualities, world-class facilities, thoughtful master planning, high-end hospitality,and premium lifestyle amenities and weaving them into a destination that respects Zanzibar’s identity while elevating it further.

We established our group on the island almost a year ago, and we’ve spent that time laying strong foundations, land acquisitions, local partnerships, and design vision. After the summer, we’ll be launching our first project, the beginning of what we believe will be one of the most exciting beachfront development stories in East Africa.

What’s special here is not just the natural beauty, it’s the opportunity. With the right strategy and execution, Zanzibar offers some of the highest return potential in the region. Our goal is to turn it into a place people dream of living in, visiting and investing in at a level that’s never been done before.

Strategic land placement has been central to your approach. What are the key fundamentals you look for when identifying plots with long-term value potential?

It always starts with asking where the city, or even the country, is headed. Proximity to major infrastructure, road access and government masterplans are non-negotiable. But I also ask: what story does this land tell? Sometimes it’s a site with a rich cultural backdrop or a unique natural feature, something that makes it more than just coordinates on a map. The best plots are those where you can almost see the future,where everything from road access to the view to the potential for something original lines up. I rely on instinct just as much as the data, sometimes more.

You’ve played a major role in securing high-value plots and assets for leading developers through Edition Real Estate. Now as co-founder of Toleo Group, what is your current role and what projects are you leading in Zanzibar?

Through Edition Real Estate, I’ve had the opportunity to work closely with some of the UAE’s most prominent developers, sourcing prime land, structuring off-market deals and helping to secure high-value assets that have shaped major projects across the country. That experience gave me more than just a deal sheet. It built a network, a strategic mindset and a deep understanding of what drives long-term real estate value.

As co-founder of Toleo Group, I’m now channeling that experience into development. My role is focused on vision, land acquisition, investor partnerships and overseeing the planning and execution of our key projects in Zanzibar. We’re not just building for the sake of building; we’re curating a new standard of lifestyle that brings Dubai-level quality to one of the world’s most naturally beautiful destinations.

Toleo is currently developing four major projects in Zanzibar, including luxury beachfront villas, a branded resort and a mixed-use hospitality destination.Each project fuses global design and amenities with the island’s unique soul and culture aimed at setting a new standard for Zanzibar’s real estate market.

You’ve been at the intersection of finance and real estate since 2002. Looking ahead, what new frontiers or asset classes do you see defining the next phase of Gulf and African property investment?

If you asked me ten years ago, I’d have said towers and malls. Now, it’s all about communities that actually make life better, places that mix living, working and wellness and do it with purpose.

In Africa, the appetite is there for master-planned communities and tourism-driven developments, places that can become economic anchors for a whole region. In the Gulf, the conversation is moving towards wellness, sustainability and smart, digitally integrated spaces. The days of building for quick returns are fading.

The most resilient assets will be those built around real needs and authentic experiences, projects that stand for something beyond just returns. People want substance and that’s what will shape the next wave. That’s where I’m putting my energy in the years ahead.