- Bloom quadruples property sales volume, triples overall revenue in 2016
- 2016 marked year of strategic partnerships, an expansion of Bloom Education
- Sameh Muhtadi: Group set to pursue aggressive growth and diversification strategy in 2017
Abu Dhabi-UAE: 30 January 2017 – Bloom Holding, a group of companies with an established portfolio of developments in the UAE and abroad, has reported robust growth across its key business segments in 2016, tripling its holdings revenue and quadrupling its property sales volume. During the past year, the Group strengthened its presence across a wide range of sectors spanning real estate, education, hospitality, healthcare and property-related services.
Bloom Properties, a subsidiary of Bloom Holding focused in the development of integrated sustainable communities, attributed its excellent performance to the ability to align its offerings with market requirements, demonstrating an in-depth understanding of end-user demand. The Abu Dhabi-based company capitalized on its solid credentials in the real estate market as a trusted master developer of high-quality properties – with the completion ahead of schedule and delivery of several significant projects that registered a high uptake from investors in Abu Dhabi and Dubai.
Sameh Muhtadi, CEO of Bloom Holding, said: “We are delighted with the strong 2016 performance of our subsidiaries. The continued sales growth, owing to the successful launch of Faya and Bloom Heights, contributed significantly to Bloom’s outstanding results in the real estate arena. Despite some softening in the market, we have remained focused on properties and introduced multiple drivers of growth in other sectors. In line with its long-term vision, Bloom Holding will pursue an aggressive growth and diversification strategy in 2017. We are confident we will continue to create and capture new opportunities in the year to come for our key stakeholders.”
He added: “While Bloom Properties will remain focused on adding value for its customers through offering the right product in the right location at the right price, it also seeks to leverage its diverse portfolio of projects to attract more investors from new markets, especially in Asia. At Bloom, we offer investors the ideal platform to diversify their holdings with a reputable regional brand. Meanwhile, through its strategic partnerships with global education brands including Brighton College, Dwight School, and MindChamps, Bloom Education will expand its footprint in a multitude of new markets to capitalize on the tremendous success it has enjoyed with Brighton College Abu Dhabi and Al Ain.”
Bloom Properties continued to register an upward trajectory, leading to an exponential increase in revenues and sales volumes – both from existing projects as well as newly launched ones.
Last year, the company marked a major milestone in delivering Phase 3 of the Bloom Gardens master development prior to its scheduled handover in Q1 2017. The project comprises 147 residential units ranging from three-bedroom townhouses and semi-detached three-bedroom villas to four- and five-bedroom detached villas. Available on a freehold basis to UAE nationals, the development has recorded high demand from home buyers and investors alike due to its exclusivity and unparalleled location on Abu Dhabi Island.
New projects launched in 2016 – including Faya at Bloom Gardens and Bloom Heights in Dubai’s Jumeirah Village Circle (JVC) – witnessed strong investor interest as well, resulting in the sellout of 90 percent of Faya and 80 percent of Bloom Heights within one week of their launch.
The company has commenced the enabling works of Bloom Heights ahead of schedule which Bloom expects to help maintain its solid track record of delivering projects before the planned completion date. In addition, construction is progressing rapidly on both Park View and Soho Square – mixed-use developments on Saadiyat Island in Abu Dhabi, located in the vicinity of the New York University Abu Dhabi campus and several major upcoming tourist attractions.
Bloom also experienced substantial growth in its leasing activity, especially in the second half of 2016, mainly due to the addition of Bloom Residences at Bloom Central and Bloom Marina developments to its leasing portfolio. The company reported a 15 percent increase in this segment as of January 2017 and expects the trend to continue throughout the year – as a direct result of its robust business model and proactive leasing strategies.
In parallel, Bloom Holding’s other subsidiaries also recorded exceptional performance in 2016.
Marking yet another highly successful year, Bloom Education continued to deliver outstanding academic results and an unsurpassed quality of education in the UAE through its Brighton College Abu Dhabi and Al Ain campuses. Last year’s A-levels results of Brighton College Abu Dhabi reflected the high academic standards set by the leading school in England, elevating the College’s status to the most academically successful educational institution for ages three to 18 in the Middle East.
The specialist education provider also ratified a partnership with MindChamps Preschool (Worldwide), a subsidiary of MindChamps Holdings Pte Limited, the leading early education provider in Singapore, to introduce the prestigious MindChamps Nurseries brand to the UAE. As the master franchisee for the region, Bloom Education will open its first MindChamps nurseries in Abu Dhabi and Dubai in Q3 2017 and is on track to open eight additional branches in the UAE and more for the wider GCC region over the next five years.
Furthermore, the company announced its plans to launch new schools in Dubai in collaboration with Brighton College UK and Dwight School New York with a combined enrollment capacity of up to 4,000 students. The 89,000 sqm super campus will comprise the two schools and the Center of Excellence for Arabic Language and Culture and the Arts, dedicated to intra-cultural exchange and promoting a deeper understanding of the rich Arabic history and traditions. Located in Dubai’s exclusive Barsha South area, both schools are set to open doors to welcome students for the academic year 2018/19. Brighton College Dubai will offer a K-12 British curriculum, whereas Dwight School Dubai is aligned to the K-12 International Baccalaureate (IB) system of education.
Meanwhile, Bloom Hospitality, in partnership with Marriott International, opened the Marriott Hotel Downtown Abu Dhabi, its first hotel in the UAE capital. Setting a new benchmark in the luxury hotels market, the property offers state-of-the-art personalized hospitality services along with the finest dining options and high-end amenities in the heart of Abu Dhabi. The company is also gearing up to open The Abu Dhabi Edition hotel at Bloom Marina in 2017 – the first Edition hotel in the Middle East.
In 2017 Bloom Healthcare is set to announce new partnerships with best-in-class local and international healthcare providers in Abu Dhabi and Dubai.
Bloom Holding is a group of companies dedicated to developing sustainable integrated urban communities that offer an enriching lifestyle and quality of life. The Group is driven by its vision to surpass the expectations of buyers and investors through partnerships with best-in-class providers of education, hospitality, healthcare, and property services. Apart from the UAE, Bloom Holding has an established and growing portfolio of projects within the wider MENA region, Europe, and the United States.