DRO in the Media

August 2005

Naviede plans to float on Ofex

Pervaiz Naviede the property developer behind LPC Living, is set to float Dubai Realty Opportunities (DRO) on Ofex.

Naviede, who hopes to raise £5m in the share offer, launched DRO nine months ago. He told Insider; “I’ve been visiting Dubai for four years or so, and have seen it grow incredibly. What I wanted was not to buy something today and sit around and wait for profit but to get involved.”

Along with DRO chief executive Nozmul Islam, Chairman Naviede has been exploring opportunities in Dubai for three years. In that time he has acquired a block of properties on the Palm resort at which he operates a timeshare business for Gulf nationals. Naviede, who has formed a strategic relationship which Asteco, Dubai’s largest property management company, expects that impending legislation will soon open the market to the UK.

The raising of £5m is expected to be the first round of a series of fundraisings by DRO, which intends to raise a total of £50m. Along with funds from Abu Dhabi Commercial Bank or other institutions, DRO expects to have around £100m ringfenced for property trading in Dubai.

DRO has been advised on the offer by Blackburn-based accountant Pierce. Director Mark Maden-Wilkinson, who led the Pierce team, commented: “DRO is set to capitalise on new land laws being drafted in Dubai which should relax freehold property ownership for foreigners in the country”.

“It is a dynamic company with an established track record in the property market and they are looking to take advantage of the real estate sector in the United Arab Emirates, which is currently undergoing rapid development.

“Pierce was delighted to advise Dubai Realty Opportunities on its planned Ofex flotation and produce and review its financial information for its prospectus. We are looking forward to working with them in the future.

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August 2005

Company set their sights on Dubai

The recent influx of investment opportunities in Dubai couldn’t have gone un-noticed.

Following the trend a new Manchester company is aiming to give small investors the opportunity to benefit from the real estate boom there. It is hoped the launch of Dubai Realty Opportunities Plc’s (DRO) will bring the ability to participate in the Dubai property boom within reach of smaller investors.

The family trusts of DRO’s chairman, property investor Pervaiz Naviede, will invest up to £1million of the £5 million being raised in this initial offering.

In future rounds DRO hopes to raise a total of £50,000,000 from investors which when combined with bank facilities are expected to give DRO an investment capability of up to £100,000,000.

Nozmul Islam, DRO CEO says; “Our strategy is relatively simple. We aim to buy property in bulk off plan, which will then be resold during and on completion of construction. DRO will gain from the difference between the bulk and individual prices as well as any increase in the property value between purchase and on sale. A small number of the properties (around 15%) will be retained and form the basis of a rental property portfolio.”

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18th July 2005

BEST TO INVEST

A new company seeking to trade in Dubai property market has announced plans for its initial public offering (IPO) prior to listing on OFEX. It aims to give small investors the opportunity to benefit from the real estate boom in the Middle East. International companies and property developers as well as the rich and famous have been investing in the booming Dubai economy and property market. The launch of Dubai Realty Opportunities Plc’s (DRO) will bring the ability to participate in the Dubai property boom within reach of smaller investors.

The family trusts of DRO’s chairman, property investor Pervaiz Naviede, will invest up to £1million of the £5 million being raised in this initial offering. In future rounds DRO hopes to raise a total of £50,000,000 from investors which when combined with bank facilities are expected to give DRO an investment capability of up to £100,000,000. With successful property investments in the UK, Germany and Dubai, Pervaiz Naviede is an experienced developer, investor and trader with over 20 years of experience. He is the Chief Executive of Legendary Property Company Limited (LPC), based in Salford Quays, Manchester, which he co-founded in May 1984. Pervaiz also owns LPC Living Limited, an urban regeneration specialist which refurbishes tower blocks, having already done so in Manchester and Liverpool, into city-style apartments. LPC Living has £275 million worth of residential development projects in the pipeline. DRO Chief Executive, Nozmul Islam has been involved in the property market in Dubai for the last few years, accruing a portfolio of properties for The Pervaiz Naviede Family Trust including real estate on the Palm, Jumeriah Beach Residences and Burj (destined to be the tallest building in the World ).

Nozmul Islam, DRO CEO, says “Dubai has become an extremely attractive place for both investment and property developments in recent years.”

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16th June 2005

UK company plans IPO to invest in Dubai property market

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15th June 2005

Dubai Realty plans to float IPO in UK

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15th June 2005

Property firm to build up £100m Dubai fund

A FIRM set up to help private investors tap into the Dubai property market said it intends to list its shares in London next month and has long-term plans to invest £100 million in the sector.

Dubai Realty Opportunity (DRO) said it initially aims to raise £5m and list on Ofex.

It said it hopes to raise £50m from future fundraising, and bank facilities should give it an investment capability of double that.

DRO’s chairman is Pervaiz Naviede, a Manchester-based property investor who has an estimated fortune of £145m.

DRO said its strategy is simple - to buy property in bulk pre-completion, and then resell most of it on completion of construction.

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15th June 05

FROM SALFORD QUAYS TO DUBAI

Pervaiz to move to Middle East
MILLIONAIRE investor Pervaiz Naviede is floating a business aiming to tap into the booming Dubai property market.
The 44-year-old from Mere, who has an estimated fortune of £145m and was rated 22nd in the M.E.N.'s Rich List, is chairman of Dubai Realty Opportunities, which is seeking to raise £5m in the first round of fund-raising on the OFEX market.
The businessman, whose sister Nighat Awan heads the Shere Khan curry empire, built up his fortune by restoring and re-selling former council tower blocks through Salford Quays-based Legendary Property Company.
He has committed to invest £1m in DRO, which eventually hopes to be able to raise £100m to invest in Dubai. The oil-rich Arab kingdom has become a top holiday and business location in the last decade.
Links between Dubai and Manchester are strong thanks to the daily direct flights via Emirates, the state-owned airline.
DRO chief executive, Nozmul Islam who has been involved in the property market in Dubai for the last few years, said: "Our strategy is relatively simple.
"We aim to buy property in bulk off-plan, which will then be re-sold during and on completion of construction. DRO will gain from the difference between the bulk and individual prices as well as any increase in property value between purchase and on sale.
"A small number of the properties (around 15 per cent) will be retained and form the basis of a rental property portfolio. We intend to follow a prudent strategy and only become involved in transactions where we have the funds available to see them through to completion, rather than operate on a more speculative basis."
The firm is being advised by Wilmslow-based Acorn Corporate Finance.

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14th June 05

Dubai Realty plans UK IPO to tap into property mkt

LONDON, June 14 (Reuters) - A company set up to help private investors tap into the Dubai property market said it intends to list its shares in London next month and has long-term plans to invest 100 million pounds ($181 million) in the sector.

Dubai Realty Opportunity (DRO) said it initially aims to raise 5 million pounds and list on Ofex, London's third-tier share market.

It said it hopes to raise 50 million pounds from future fundraising, and bank facilities should give it an investment capability of double that amount.

DRO's chairman is Pervaiz Naviede, the Manchester-based property investor who ranked 326th in Britain's 2005 Sunday Times Rich List, with an estimated fortune of 145 million pounds.

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14th June 05

Companies & Markets - Small Cap Briefing

Dubai vehicle to float on Ofex

Pervaiz Naviede, a property investor in the north of England, plans to capitalise on the booming Dubai property market by floating Dubai Realty Opportunities on Ofex.

Mr Naviede plans to provide up to £1m of the initial £5m being raised in an intitial public offering led by Acorn Corporate Finance. Nozmul Islam, DRO’s Chief Executive, said its strategy was to “buy property in bulk off-plan”, which will be re-sold during construction or on completion.

DRO is believed to be the first publicly quoted vehicle to target the Dubai property market, which is being transformed by the construction of a series of artificial islands and iconic projects, such as the Burj, the world’s tallest tower, and Dubailand, which will contain the world’s largest shopping mall and theme park.

The value of land transactions in Dubai has quadrupled to $3.2bn (£1.8bn) in the past three years.

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12th June 05

Sunday Times - Business Digest

Investors who fancy a flutter on the Dubai property market will soon be able to do so through a British company that is due to be listed on Ofex.

Chaired by the property entrepreneur Pervaiz Naviede, Dubai Realty Opportunities aims to raise £5m in initial placing starting tomorrow, with a further £45m placing possibly before Christmas.

Naviede is Chief Executive of the Manchester-based Legendary Property Company. With a personal fortune of £145m, he is ranked 326th in this year’s Sunday Times Rich List.

Mohammed Nozmul Islam, Chief Executive, said he aimed to buy development sites. Some will be re-sold during construction or on completion. About 15% will be retained and leased.

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