Explore ENSHAA

Corporate Profile

ENSHAA was established with the vision to develop premium-quality commercial, residential and hospitality projects in the United Arab Emirates. Since then, ENSHAA has experienced impressive growth and emerged as one of the region’s premier developers, and is poised to be a strong force in the hospitality industry.

The company’s major shareholders include Majid Al Futtaim Group, Emirates Investments Group and Abraaj Capital.

ENSHAA currently operates in the Middle East and is expanding into Asian markets, including China and India, through a growing portfolio of carefully conceived projects. The company has formed a number of successful joint venture partnerships with prestigious local and foreign companies, and its portfolio includes Palazzo Versace Dubai, D1 residential tower and Emirates Financial Towers.

ENSHAA is the majority shareholder of Dubai based Kele Contracting LLC, regional contractors specializing in high-rise construction, and is the owner of Signature Clubs, the developers of a growing list of Capital Clubs in Dubai, Bahrain and East Africa.

Chairman's Message

“The UAE continues to be an engine of growth. Dubai’s largest firms – the ones with strong governance and strategic planning are driving the market in a positive and sustainable direction. Beyond the UAE, regional successes are buttressing the reputation of the Middle East: the awarding of the 2022 World Cup to Qatar, Dubai’s hosting of the Expo 2020, and countless extraordinary Saudi infrastructure projects are all combining to keep our region at the forefront of overseas investors’ minds.

We look forward to good times ahead. The key to thriving is having the people and practices in place to be able to function in the tough times as well as the easy. We are confident that the past year has been well used, with a prudent and patient approach which will – literally as well as figuratively – “pay dividends”.

As we enter our next exciting chapter, ENSHAA is confident of being exceptionally well placed to capitalise on opportunities, and to show that both this region and ENSHAA are capable of anything”.

Tariq Bin Faisal Al Qassimi

Vision & Values

Vision

To maximize shareholder value by delivering best-in-class real estate investments, developments, and services.

Values

  • Teamwork

    Diverse teams working together toward a unified goal and generating the best results. Our team structure provides opportunities to impact the direction of the organization and to gain broader perspectives to help evolve its full potential.

  • Integrity

    We conduct business honestly and transparently, passing the test of public scrutiny. We maintain high ethical standards and require absolute integrity in all our dealings with clients, partners, competitors and each other.

  • Quality

    We believe that the key to creating premier products is consistent innovation and quality assurance; the pursuit of quality is central to all our actions.

  • Trust & Respect

    Trust is strengthened through personal initiative, open communication and the rapid achievement of quality results. Every job and every team member is important. We provide an environment that fosters inclusion, respect and individual responsibility.

  • Innovative Technology

    Our success depends on superior scientific innovation. We set new standards of living and lifestyle by continuously improving all aspects of our business through the application of the latest technologies.

  • Responsibility

    We operate responsibly and are sensitive to the countries, communities and environments in which we work.

Our History

  • November 2016

    The Fashion World and UAE Royalty descend on Palazzo Versace Dubai for its glittering Grand Opening as the final parts of the property go live including its luxury Spa and some of the largest and most opulent hotel rooms on the planet. Preferred Hotels & Resorts awarded Palazzo Versace Dubai for the ‘Best New Hotel Opening’ in 2016. November also sees the opening of Q’s; a World first Jazz Bar by Enshaa in collaboration with Legendary Musician and Producer Quincy Jones.

  • October 2016

    Palazzo Versace sweeps up more awards as the best ‘Luxury Brand Hotel’ in the Middle East at the 10th annual World Luxury Hotel Awards.  

  • May 2016

    The impact of Palazzo Versace Dubai on the world hospitality stage is recognized as it scoops the ‘Best New Hotel’ Award at the Middle East Hotel Awards Ceremony 2016. Capital Club Lagos BOG inaugural and launch of membership

  • November 2015

    The Palazzo Versace Hotel opens its door to the general public and with it receives immediate International recognition as one of Dubai’s finest properties. Residential buyers within Enshaa’s Flagship properties; Palazzo Versace Dubai and D1 Tower begin taking receipt of their keys and take up residence within these two iconic buildings.

  • April 2015

    The Capital Club Dubai is recognized by Billionare.com and Business Insider as one of the world’s most exclusive members only clubs   

  • 2014

    Capital Club Dubai was rated by CNN as one of the top 10 most exclusive clubs in the world    

  • 2013

    Capital Club East Africa completed and delivered to partners.

  • 2012

    Capital Club East Africa membership launch in Kenya

  • 2011

    Enshaa wins the best development award – for Palazzo Versace Dubai and the D1 Tower in three separate categories of the 2012 edition of the prestigious Arabian Property Awards. EFT awarded Guinness World Record for largest intelligent automated parking system with 1,191 capacity.

  • October 2011

    ENSHAA formalizes full acquisition of Emirates Sunland Group and attains full ownership of Palazzo Versace Dubai and D1 Tower, its two iconic luxury developments in Culture Village on the Dubai Creek.

  • July 2011

    Achieves Building Completion Certificate for Emirates Financial Towers, ENSHAA’s prestigious joint-venture commercial twin towers in Dubai International Financial Centre.

  • April 2010

    Commences development of Phase I of high quality labor accommodation for 800 laborers of Kele as part of the Group’s corporate CSR initiatives.

  • December 2009

    Stabilizes Kele’s business and converts significant contracts of over USD 500 million, including induction of Kele as the contractor of the D1 project. Value engineering and re-engineering undertaken resulted in cost average for Palazzo Versace Dubai and D1 projects in excess of USD 215 million.

  • November 2009

    Signature Clubs International acquired.  The acquisition includes Capital Club Dubai and Capital Club Bahrain.

  • June 2009

    Capital Club Bahrain Official opening.

  • December 2008

    ENSHAA Co-sponsors Etisalat Water Festival.

  • November 2008

    Installation of glass works on Emirates Financial Towers’ facade starts on schedule.

  • April 2008

    ENSHAA marks a year of impressive financial Results as its total assets increase from AED 900 million to 1.6 billion in twelve months.

  • March 2008

    Capital Club Bahrain held the first Board of Governors inaugural meeting and launching of membership.

  • November 2007

    ENSHAA and its JV Partner Sunland Group secure the license to roll out fifteen Palazzo Versace resorts in major locations worldwide.

  • August 2007

    ENSHAA chooses Hitachi for a AED 16 million contract to equip its project – Emirates Financial Towers.

  • June 2007

    ENSHAA expands investors group to increase its capital to AED 914 million following a successful private placement. ENSHAA closes private placement offering and raises approximately US$ 70 m through issue of new shares to Majid Al Futtaim Investments LLC.

  • May 2007

    Ground Breaking Ceremony of Palazzo Versace celebrated.

  • April 2007

    Construction on Palazzo Versace Dubai commences in Culture Village under the approval of Dubai Properties.

  • March 2007

    Emirates Sunland (ENSHAA 51% and Sunland 49%) sells 29% of Palazzo Versace Dubai and 69% of D1 Residential Tower.

  • February 2007

    ENSHAA (with its joint partner National Logistics Corporation) announces Karachi Financial Towers a 37 storey premium commercial twin-tower project development in Karachi, Pakistan.

  • December 2006

    ENSHAA launches D1 Residential Tower with its JV partner Sunland Group.

  • November 2006

    ENSHAA signs a contract with Robotic Systems to build one of the world’s largest automated car parking facilities for its prestigious project – Emirates Financial Tower Emirates Sunland (ENSHAA 51% and Sunland 49%) signs the Project Management Agreement for AED 8 billion master planned community and tourist resort in Umm Al Quwain.

  • August 2006

    SCI has announced the launch of its flagship club, The Capital Club, located at the heart of Dubai International Financial Centre. The Capital Club’s Board of Governors held its 1st inaugural meeting at the Dubai International Financial Centre.

  • May 2006

    ENSHAA awards Al Habtoor the piling contract for the construction of its prestigious development – Emirates Financial Towers. ENSHAA announces the receipt of land for construction of Emirates Financial Towers from Turner on behalf of the Dubai International Financial Towers.

  • May 2005

    ENSHAA acquires 100% capital stock of Emirates International Holdings and Enshaa Holding and 51% of Emirates Financial Towers LLC. Emirates International Holdings launches Emirates Financial Towers, an AED 450 million 26-storey twin-tower in the heart of Dubai International Financial Centre. Abraaj Capital, one of the largest private equity firms of the region, obtains 34.5% stake in Emirates International Holdings. Emirates International Holdings and Sunland Group announce development of the Palazzo Versace Resort in Dubai.

  • March 2005

    Emirates International Holdings signs an agreement with Dubai Properties to acquire land for the development of a resort.

  • January 2005

    Emirates International Holdings partners with Sunland Group to form Emirates Sunland Group. Sunland Group is a leading Australian property development and management company, listed on the Australian stock exchange, with development experience spanning three decades. Emirates International Holdings buys 50% of Palazzo Versace Gold Coast, Australia.

  • December 2004

    50% interest in Palazzo Versace Gold Coast (Australia) and 51% interest in Emirates Financial Towers (Dubai International Financial Centre) acquired.

  • November 2004

    Emirates International Holdings Ltd. (EIH) incorporated.

  • Mid 2003

    Gulf Resources LLC Incorporated.

Management

Raza Jafar

Chief Executive Officer

Raza Jafar is a serial entrepreneur and a philanthropist with over 28 years of diversified international work experience. His focus is on investments with a fervent pursuit of economic, environmental and social sustainability. He is a strong advocate of the need for corporations’ success to be measured based on the triple bottom line concept and to establish criteria to measure their social impact.

Ashok Gopinath

Chief Financial Officer

Ashok Gopinath is a Chartered Accountant with more than 23 years of international experience, 18 of which were at the senior management level. While his expertise focuses largely on FMCG and property development, he also has specialization in financial structuring and has successfully handled IPOs from concept to issue. Prior to joining ENSHAA, he was financial controller at a successful IT-outsourcing firm in Dubai.

Shareholders & Partners

  • Emirates Investments Group

    Emirates Investments Group LLC is an investment company in the United Arab Emirates. The dynamic investment group sources unique business development opportunities and works closely with established companies through partnerships. With an initial focus on financial services and real estate, Emirates Investments Group is expanding its portfolio with investments in the trading, industry, aviation, oil and gas sectors.

    For more information please visit www.eig.ae

  • Majid Al Futtaim Group

    Established in 1992, Majid Al Futtaim Group has successfully brought the concepts of regional shopping malls and hypermarkets to the region. The vision of the Founder and President of the Majid Al Futtaim Group, Mr. Majid Al Futtaim, has changed the face of shopping, entertainment and leisure in the Middle East and North Africa.

    For more information please visit www.majidalfuttaim.com

  • Abraaj Capital

    Abraaj Capital is one of the leading private equity firms in the Middle East with an investment portfolio including regional and international companies operating in financial services, air transportation, information services, retail, construction, transport products, petrochemicals and real estate.

    For more information please visit www.abraaj.com

  • Moafaq Al Gaddah Group of Companies

    MAG Group is a joint Venture partner of ENSHAA in building Emirates Financial Towers in Dubai International Financial Centre. MAG Group achieved a leading position among property development companies with the relief of its projects and distinguished towers.

    For more information, please visit www.maggroup.ae

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