DUBAI- Preatoni, a leading European property developer recently opened Preatoni Real Estate in Dubai as a strategic move to advance and grow its portfolio in the Middle East markets.
“We have built high-class tourism and residential complexes, hotels and leisure centers worth 2.5 billion euros in the MENA region, such as the Domina Coral Bay Resort in Sharm El Sheikh Egypt,” says Ernesto Preatoni, Founder and Chairman of Preatoni Real Estate. “We will leverage on our solid background in the real estate and finance industries in Europe and Egypt to replicate similar success stories in the Gulf market via this regional headquarter in Dubai.”
Preatoni’s group of companies is founded by Ernesto Preatoni who is also the founder of Domina, a company which owns a chain of 29 hotels in 8 countries, and has investments in different parts of the world. Moreover, Ernesto Preatoni, the pioneering figure in finance and real estate industries in Europe and the Middle East, chairs other leading companies specializing in real-estate investment and financial services. He also serves as head advisor for Brickstone Funds, a real estate fund regulated by the European Union.
By opening its headquarters in Dubai, Preatoni aims to expand its portfolio of residential and commercial complexes, as well as hotel and touristic developments, to add to its rapidly increasing number of hotels around the world, some of which are their own properties, while others fall in ‘management’ and ‘management and franchising’ categories.
Ernesto Preatoni said: “Domina Coral Bay Resort in Sharm El Sheikh Egypt is one of our landmark developments in this part of the world. Our success in selling 16,000 units to date at Sharm El Sheikh is an unprecedented feat in Egypt’s hospitality industry. We’re confident about the prospect of success the Middle East, especially Dubai. Even apart from the Expo 2020, has got all the fundamentals right for robust property investments.”
Preatoni has regional headquarters in Milano, Italy; Tallinn, Estonia; Villnius, Lithuania; Riga, Latvia; Moscow, Russia; Sharm El Sheikh, Egypt and Dubai, UAE.
Preatoni said: “The whole world is talking about Dubai; it has its own distinctive charm for tourists as well as residents. You can enjoy and do business here; that’s what makes Dubai attractive. We are very happy to be welcomed in this country. We got great support to start our company in the UAE and found it to be a very smooth experience. It’s a young country, full of energy with mature regulations and a sharp vision.”
He added: “Dubai has matured and made rapid strides in corporate governance not to mention that it is revolutionary in its thinking, which inspires investors to be creative and execute ideas that are not possible anywhere else. We would look at expanding to other emirates which are becoming more attractive for foreign investors thanks to the vision of the UAE.”