The Legacy of Zabeel Investments: Dubai’s Iconic Projects and Strategic Financial Moves

Zabeel Investments was established in February 2006 and has since grown into one of the leading investment houses in Dubai through the vision and leadership of Sheikh Hamdan bin Mohammed al Maktoum, Crown Prince of Dubai. From commercial real estate to hospitality, media, finance, and others, Zabeel Investments has been actively undertaking properties to define the skyline of Dubai and further assert its place in the world’s economic map. However, it is what has really distinguished Zabeel from its counterparts-that is, its audacious investments, its deliberate bets on strategic sectors, and its relentless expansion into business areas that make ripples, not only in the UAE but also beyond.

The genesis of Zabeel Investments, however, emanated from the urgent requirement for diversified growth across different economic sectors in the UAE, such as real estate, finance, and hospitality. With the Headquarters being at the Dubai International Financial Centre (DIFC), during its very first year, Zabeel Investments expanded from a nice AED 12.4 billion portfolio. Such early emphasis on building sustainable growth across different sectors helped the company leverage various business areas to establish a presence in commercial real estate development, private equity, and asset management. The very obvious vision of a supporting hand to the Dubai economy saw Zabeel Investments made tremendous strides in the market during its early years, both globally and locally.

One of the most positive contributions of Zabeel Investments is on the development of Tiara Residence – a luxury residential and hospitality resort on Palm Jumeirah. The flagship AED 2.1 billion project was opened in 2009 by signing on the dotted lines and marked it as the first large-scale real estate venture for the company. Tiara Residence was one such landmark, where it helped natter Zabeel Investments its grand place in the market of luxury real estate within Dubai. The company still hasn’t rested with that; next came AED 1.75 billion Tiara United Towers, a venture undertaken by United Holdings. Sited on Sheikh Zayed Road, Business Bay of Dubai’s metroscape will form a visual opulence in the skyline, though completion will be delayed. The towers were to be completed in 2020 and ultimately will showcase Zabeel’s commitment to iconic building that will characterize Dubai’s architecturescape.

Apart from diversifying its portfolio by buying Electric Orange, a visual communications agency which it later renamed to Zed Communications, part of the reason why the company’s investments in such industries was prudent was due to acquiring part of Zabeel’s strategic move into broadening the scope of its investment across the different sectors into media and communications as well as increasing its global presence.

The opening of Jumeirah Zabeel Saray, a luxury five-star hotel on the west crescent of Palm Jumeirah, perhaps marks one of the largest milestones in the hospitality sector. The hotel is owned and managed by the Jumeirah Group. The hotel opened its gates to guests in 2011; hence, it has created a new style of luxury and sophisticated offerings in the hospitality sector of the UAE. Jumeirah Zabeel Saray’s success was another feather in the cap of Zabeel Investments, marking the achievement not only in real estate but also in high-end tourism and leisure.

Zabeel Investments also carved its presence in the financial world. An investment made to Abraaj Capital, the region’s private equity firm leader, and an investment worth $2 billion in DICAM’s Global Strategic Equities Fund at the end of 2007 have further helped the wealth of the firm to spread and diversify its strategy in investing.

Zabeel Investments, in the early 2010 decade, was simply in a situation from which it would be impossible to extricate itself historically. It was then owing AED 6 billion-which is approximately $1.6 billion-and it had no other choice but to file for dissolution in 2013. Its assets were merged with Dubai Real Estate Corporation, a subsidiary of Investment Corporation of Dubai, the emirate’s sovereign wealth fund. The closure of this company marked the last chapter in Dubai’s growth, but the legacy of Zabeel Investments lives on.