Multi-billion Dollar Joint Venture to Launch ‘Empire Developments’, Set to Enter UAE Real Estate Market

News Highlights

1). EssKay Holdings and Peace Home Real Estate groups will launch multiple projects

2). In the wake of rising interest rates, developer will focus on the affordable housing segment

3). Empire Developers is set to handover first fully sold out residential project this month 

4). Develop aims to be a ready-to-move-in option for investors

(DUBAI): Dubai-based EssKay Holdings and Peace Home Real Estate business conglomerates jointly venture into UAE’s real estate market and all set to launch Empire Developments, the real estate development company. Empire Developments aims to position itself as a ready-to-move-in and affordable residential developer in wake of rising interest.

An official press launch by the end of August 2023 will entail a formal announcement of the newly established Empire Developments. The announcement will provide key details such as the readiness for occupancy of their inaugural residential project, their plans to launch new projects in 2023 and regional expansion.

Empire Developments is currently in the final phase of handing over its first residential project, Empire Residence, which is located in Jumeirah Village Circle (JVC). Project details and sales performance of the inaugural project will be released at the official launch of Empire Developments.

Kamran Ghani, Chief Executive Officer of Empire Developments, said: “Empire Developments combines residential and hospitality experience with construction and property brokerage background to offer quality property assets and competitive returns, translating them into affordable luxury. Launching our first project reflects our commitment to investors and end-users, demonstrating our long-term presence. 

“The property market in Dubai is currently at its peak, but the rising interest rates are becoming a challenge for developers and end-users. We believe it is the right for our properties to expand and consolidate our property portfolio. Our first project, Empire Residence, sold out within days of its launch last year is a reflection of how our assets are seen by investors. All based on our professional approach and our commitment.,” concluded Mr. Kamran.

Empire Developments aims to build mid-luxury yet affordable projects starting from Dubai. The project meet the international standards of design, build, and lifestyle. 

The number of projects, type, value, and location of projects will be unveiled during the official launch this month.

“Empire Developments shall aim to focus on the affordable housing sector to cater to the expanding mid-income and salaried expatriate population in Dubai, facilitating their transition from renting to owning their own homes.”, revealed Ahsan Rasheed, Chief Executive Officer of Peace Home Real Estate Group.

Additional Information for Editors

About Empire Developments:

Empire Developments is a Dubai-based ready-to-move-in and off-plan residential developer, jointly owned by Mr. Kamran Ghani and Mr. Ahsan Rasheed. The key objective of Empire Developments is to build the highest quality projects which are luxurious, at par with the international standard of design, build and living, yet affordable to cater to the growing population of Dubai which is mostly mid-income level.

About EssKay Holdings:

EssKay Holdings, established 20 years ago, is a business conglomerate with Head Office in Dubai. The group holds EmKay Properties, Best Home Real Estate, Plazzo Development, Park Regis Business Bay Hotel, Colombia Used Cars, Hot Wheels Car Rental, Zone Tourism, Bricks Contracting, and now Empire Developments. 

About Peace Home Real Estate Group:

Peace Homes Real Estate Group was established in 2014 with headquarters in Dubai. The group owns Peaceful Vacation Homes, Platinum Facility Management, World Auto Zone, Premier LLC, Platinum Board Force, Luxury Class Rent A Car, Occo Lounge Restaurants, Cart Supermarket Chain, and Empire Developments the latest venture.


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