Power Hour 2021: Raja Alameddine, CEO, Lootah Real Estate Development, Ranks 43rd

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Raja Alameddine was appointed as the CEO of LRED in 2021 and has over two decades of investment banking and real estate development experience. This will help further enhance Lootah’s real estate offerings, while also assessing their strategy for expansion into new markets and development of new product portfolios.

As one of the most trusted real estate developers and a pioneer in creating distinctive homes, Lootah Real Estate Development (LRED) delivered the Living Garden II development. The project, located in the sprawling suburban neighborhood of Jumeirah Village Circle (JVC), offers state-of-the-art facilities combining modern styles with the influence of nature. The property offers over 100 expertly crafted, yet affordable, studios, one-bedroom and two-bedroom apartments with living spaces ranging from 500 to 1300 sq. ft.

Another project delivered in the last year included Edge, at the heart of Dubai Investment Park (DIP) with spectacular amenities such as the aesthetic landscaped gardens, a state-of-the-art recreation centre, swimming pools, jogging tracks and facilities that include a shopping centre and play areas for children.

Lastly, the developer has also created a retail complex in the Ewan Community, a 14,000-square-ft lifestyle retail hub, located in Dubai Investment Park, offering supermarkets, retail shops and dining experiences.

LRED also added more amenities to Ewan Residences community including playgrounds and fountains, shaded recreational areas, enhanced jogging tracks, and professional landscape works.

Additionally, LRED launched Real Share, a real-estate investment portal that allows ‘fractional ownership’ of properties. This breakthrough in real estate investment creates a platform accessible to all investors, especially inviting first-time investors, who wish to access the real estate market, gain asset appreciation, and earn monthly rental income through the ownership of property.

Powered by SmartCrowd, it is MENA’s first DFSA and DIFC regulated real estate investment platform. The platform aims to innovate the way real estate investment works, create a viable and secure means to facilitate property transactions, and allow foreign and local investors to buy and share real estate interests remotely and enjoy annual returns ranging from 6 to 9 per cent.

Raja told CBNME: “My focus for this year is to launch highly targeted developments that provide solutions to explicit needs in the market. Our developments will be driven with an emphasis on creative lifestyle design, superb build quality, the adoption of sustainability and smart solutions that create incredible living experiences for our customers.”