News DeskDubai, UAE – RMS Capital Investment, a real estate development alliance formed by three partners—Emirati Reportage Properties, Turkish Mesa Holding, and Azerbaijani Sabah Investment Group—has announced the launch of its first project, a new phase of the Verdana project, in Dubai. This venture represents an initial investment of approximately $600 million across three markets.
The announcement was made during an international press conference held in Dubai, where the alliance outlined its future plans. The second project is set to take place on the shores of the Caspian Sea in Baku, within the Arabian Ranches Sea Breeze development in Azerbaijan.
Andrea Nucera, Managing Director of Reportage Properties, emphasized the alliance’s commitment to creating innovative and sustainable real estate projects that offer added value to customers. He highlighted the UAE’s real estate sector as an attractive investment opportunity, noting that Dubai has become a global investment hub attracting wealthy investors from around the world. Nucera cited a significant increase in Reportage Properties’ sales, which exceeded AED 3.7 billion ($1 billion) in 2023, up from AED 2.3 billion in 2022—a growth of over 60%.
Mert Boysanoglu, CEO of Mesa Holding, stated that the new partnership aims to establish a strong presence in the global market by developing major projects, leveraging the collective experience of the three companies. The initial projects will be executed in Dubai, Istanbul, and Baku between 2024 and 2025.
Orkhan Mustafayev, CEO of Sabah Investment Group, expressed confidence in the strong demand for the new projects, which aim to enhance the alliance’s presence in target markets and forge successful partnerships.
In the new venture, Reportage Properties will hold a 34% share, while Mesa Holding and Sabah Investment Group will each retain 33%. The alliance, abbreviated as “RMS,” reflects a shared vision encompassing trust, quality, customer satisfaction, sustainability, innovation, and social contribution.
This strategic alliance marks a significant milestone in the real estate sector, with ambitious plans set to reshape the market landscape in the UAE, Turkey, and Azerbaijan.
