Aside from the purchasing duties for Dubai World, NeoAce has a strong presence in the United States in the form of investments and real estate. We are by no means a hedge fund, but we hold substantial positions in a diverse group of companies across different sectors.
Our real estate ventures include rehabilitation of foreclosed properties, land development, land subdivisions for residential and commercial use and last but not least, rental properties.
NeoAce is registered and licensed in the United States as well as the UAE and performs all services mentioned above under the license for its respective jurisdiction. NeoAce does not perform any sales of consumer goods and specializes in aggressive purchasing for internal use with in the parent company and all of its subsidiaries.
Work has begun on Emirates SkyCargo’s cargo terminal at Dubai World Central Al Maktoum International Airport.
The total value of properties requested for valuation in Dubai during the first half of 2013 rose by 70 percent.
A property protection law in Dubai will prevent another real estate ‘bubble’, according to the Dubai Land Department.