Kalpesh Kinariwala, the founder of Pantheon Development, received the UAE’s Golden Visa from the Federal Authority for Identity and Citizenship (ICA) on August 17, 2021.
He has been in the UAE for the past 8 years and calls Dubai his home. With his rich experience of numerous profitable businesses in different markets, Kinariwala entered the Dubai’s real estate market in 2016 by founding Pantheon Real Estate Development with an aim to fill the gap in the affordable luxury segment in Dubai’s realty market.
During the COVID-19 pandemic, many frontline workers were granted the 10-year Golden Visa in Dubai. Since then, the authorities included several categories to retain expatriates with special talents, with more and more residents now receiving the honor. These include doctors, students, scientists, innovators, researchers, artists, investors and entrepreneurs across various fields.
“The vision of the UAE rulers to retain talent, skills and experience in this country is highly appreciated. And I am very grateful to the UAE rulers and the federal government of UAE for this amazing recognition," said Kinariwala. He was awarded with the UAE’s golden Visa under the category of Investor. “The UAE’s Golden Visa is the most preferred option for investors worldwide who want to immigrate to the UAE,” he added.
It has been over two years since the UAE's coveted Golden Visa scheme was announced. The 10-year visa aims to retain the brightest and most promising expat talent in the UAE.
He was earlier honored with “International Achievement CEO of the Year” award at the 2018 CEO Middle East Awards in recognition of his outstanding work.
Pantheon Development launched its first project – Pantheon Boulevard a Dh150 million five-story affordable luxury building, located in District 13, Jumeirah Village Circle, which was completed and handed over in 2017. It comprises of 157 studio units and a mix of one-and two-bedroom apartments. Based on the success of the first project, Pantheon Development continued to grow, becoming one of the leading real estate developers in the Jumeriah Village Circle. It launched its second project Pantheon Elysée I, an affordable AED200 million luxury development located in JVC, consisting of 268 residential units along with a mix of retail outlets, completed and handed over in Nov-2020.
Pantheon Elysée II, a Dh100 million affordable luxury project with 162 residential and Elysée III to be launched very soon in the same area.
“We chose to focus on the Jumeirah Village Circle area because it’s a district popular with families from a diverse range of nationalities and having close proximity to the Dubai Expo 2020 site. It also happens to be well connected with all major roads and boasts an area rich with a variety of residential units, retail and leisure facilities," explained Kinariwala.
Pantheon Development was awarded as the “Best Affordable Luxury Property” during the prestigious Arabian Business Real Estate Awards 2019.
Kalpesh Kinariwala is a Dubai-based dominant financial investor and promoter that runs market-neutral arbitrage strategies. He uses a sophisticated proprietary fusion of technical, statistical and quantitative expertise to deliver superior returns on investments. His innovative approach towards financial investment has proven to be universal across all asset classes – commodities, forex, equity and real estate.