Sheikh Maktoum bin Hasher Al Maktoum, founder of A1 Grand Prix, Chairman of Dubai International Holding Company (DIHC) and CEO of Al Fajer Group (AFG) has been appointed as President of Al Fajer Properties (AFP), one of the leading property developers in the UAE.

The new appointment also coincides with AFP entering into a pioneering and significant European investment partnership in the Dubai commercial property market following an investment alliance with Kulczyk Investment House (KIH) of Poland.

KIH and AFP will make an initial investment of AED 225 million through a Real Estate Investment Partnership (REIP), an innovative investment concept created by Sheikh Maktoum and Mr. Manoj Narender Madnani, Managing Director, KIH, Dubai.

This is one of the first REIP transactions made possible by Sheikh Maktoum for KIH in the region. The partnership provides KIH the opportunity to invest in the world-class Jumeirah Business Centre Towers in the Jumeirah Lake Towers community. Jumeirah Business Centre Towers is, the region’s first branded office chain conceived and being developed by Al Fajer Properties,, a wholly owned subsidiary of the Al Fajer Group.

His Highness Sheikh Hasher Maktoum, Chairman of Al Fajer Group said: “Al Fajer Properties has posted significant growth in Dubai’s real estate market and I am confident that with the expertise and experience of my son, Sheikh Maktoum, CEO of Al Fajer Group, the company is poised to be a global entity.”

Commenting on the partnership, Sheikh Maktoum thanked his father for his diligent efforts in growing the Al Fajer Group within the last 40 years into a nationally recognizable brand name with many companies and services under its umbrella throughout the UAE.

“The primary focus of Al Fajer Properties is to create investment opportunities in the region for overseas investors given the current market volatility in Europe and North America. This, coupled with the increase in the price of oil, has created significant market liquidity in the region making the Middle East a safe haven for investment within the real estate sector. The significant increase in petrodollars has also given us the ability to begin considering unlocking value in current assets and exploring new international opportunities in Europe and North America as well. Al Fajer Group is delighted that KIH has chosen us as their preferred partner in not only investing in existing Al Fajer Properties, but also in exploring the wealth of opportunities in this rapidly developing sector across the region,” Sheikh Maktoum said.

Sheikh Maktoum reaffirmed his Group’s commitment to delivering the highest standards of quality and excellence in line with the reputation of Dubai.

He also emphasized that yields and returns in the real estate market within the region will continue to escalate further proving that the region is one of the strongest and most sustainable property investment destinations in the world.

His Highness said that as foreign investor confidence in the region continues to grow, more new partnership opportunities will emerge which will also highlight the stature of Dubai as a city of high standards and excellence thanks to the visionary approach of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President and Prime Minister and the Ruler of Dubai.