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3rd Party: 09 Dec 2024
Self-made Billionaire entrepreneur and philanthropist Asif Aziz, Founder and CEO of Criterion Capital, has announced plans to establish a scalable, world-class "Build To Sell" co-investment platform in Abu Dhabi. The announcement was made during Abu Dhabi Finance Week (ADFW) 2024, hosted by ADGM, reinforcing the Emirate’s position as a global hub for transformative investments.
The new platform aims to leverage Asif’s 38 years of expertise in urban transformation and align with ADGM’s mission to foster sustainable economic growth and innovation. With over $9bn in assets under management, Criterion Capital’s vertically integrated model that manages the entire development journey from acquisition to operation, has delivered consistent success across prime real estate markets, including London’s iconic West End.
Asif Aziz commented: "Abu Dhabi Finance Week is an exceptional platform for dialogue and collaboration. There is a massive dislocation in real estate globally, and the Middle East represents an exciting frontier for growth. I look forward to building strategic partnerships from ADGM that align with our ambitions across the 'living' sector in Europe and the UAE."
Arvind Ramamurthy, Chief of Market Development at ADGM, said: “Abu Dhabi’s position as a global investment leader is built on a foundation of adaptability and innovation. Criterion Capital’s decision to establish a new platform here aligns with ADGM’s vision of fostering partnerships that drive sustainable growth and reshape global markets. We are thrilled to welcome Asif Aziz and Criterion Capital into our ecosystem.”
Criterion Capital’s success spans decades of transforming underutilised properties into thriving residential and hospitality assets. With a portfolio of over 50 iconic buildings in London and 5,500 residential apartments across the UK and Europe, Criterion has built a legacy of redefining urban spaces. The company’s innovative Zedwell hotel concept, with its flagship hotel at the Trocadero on Piccadilly Circus, is set to expand to 8,500 rooms across the UK by 2027.
As Criterion Capital looks to extend its global reach, Abu Dhabi’s strategic initiatives through ADGM offer a platform for innovation and investment at scale. The collaboration underscores Abu Dhabi’s unique ability to attract and support world-class leaders driving change across industries.
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