Dubai: The extensive makeovers are paying off for Abbas Sajwani and his near one-year old company, AHS Properties. Three of the company’s renovated villas on the Palm have been sold for a combined $75 million.
It was in November 2021 that Abbas Sajwani launched his own venture to buy-and-burnish high-end properties in Dubai and then put them through into the sales market again.
“We nearly sold out our existing portfolio and we have several pipeline projects that will be announced soon,” said Sajwani, whose father is Hussain Sajwani of Damac. “The ultra-luxury market in Dubai is booming and I am thrilled with what we have been able to achieve in such a short period of time.”
At the time of AHS Properties’ formal launch in November last, it had a total asset value of more than USD $100 million, comprising four luxury villas in Emirates Hills and Palm Jumeirah.
Currently, the portfolio includes an Amara Villa at Emirates Hills with a value of $45 million. The property will go on the market in the coming weeks and has already bagged ‘high interest from potential buyers’. It is developing a fifth mansion in Palm Jumeirah with a value of $40 million.