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Overview
The group, formed in 2007, the company Dynasty Zarooni Inc is the merger of the businesses of Mr. Hilal Al Zarooni and Mr. Kabir Mulchandani in 2007. The combined synergies of these two organizations have resulted in the creation of one of the most prominent & profitable real estate companies in the United Arab Emirates.
Summary
The Dynasty Zarooni Group has successfully invested in development and acquisition and disposition in the United Arab Emirates Real Estate Sector. The Group has net equity of over AED 1.2 billion.
The Group’s Promoter’s and Dynasty Zarooni Inc.’s combined net worth is over AED 3.5 Billion.
The group has a professional, strong and experienced management team to lead it
into the future.
Invests in real estate in the U.A.E.
Acquires and disposes of real estate on a strategic basis through Dynasty Zarooni Inc. with a goal of realizing capital gains and income. Returns of over 440% annualized from Jan 2008 to June 2008.
Acquisitions are primarily in commercial, residential and retail.
As a hedging strategy, the Group also owns high cash flow generating assets such as car parks.
Investment Division
The companies Investment activities have strategically involved acquisitions of key Real Estate assets in Dubai & Abu Dhabi within the United Arab Emirates.
The range of investments include a prime commercial property assets within Dubai & Abu Dhabi’s prevalent central business districts, prestigious Residential property assets located in award winning development (see Annexure A).
Furthermore the DZ Investment Division has an asset portfolio of over 2500 Car Parking units located within prime development projects.
To date over AED 1.6 Billion Real Estate development projects have been delivered within the UAE from a total exceeding AED 20 Billion of executed transactions to date.
Brokerage Division
From its inception in Jan 2008, the group Corporate & Retail Brokerage Sales & Marketing division has successfully evolved into one of the industry’s most dynamic and agile brokerage teams within the Emirate of Dubai.
Located at the Dynasty Zarooni Inc. corporate headquarters at Jumeriah Lakes Tower; Dubai Managed by a seasoned team of professionals with specialist skills in the operational components of brokerage sales, marketing, consulting and accounting operations.
Our diverse Brokerage Real Estate Sales team are connected into the pulse of the UAE property market, through an extended network of over 2500 cross-country and International Broker network extending reach into key investment markets in UK, Ireland, Germany, Russia/CIS, Indian sub-continent, Pakistan, North America .
The Brokerage business unit has a proven agility and finely-tuned a process of engagement with our Real Estate development partners, rapidly assess the project potential based upon our in-depth market knowledge and derive a clear sales and marketing strategy to successfully.
The Brokerage business has grown phenomenally in 2008 and currently achieves sales transactions in excess of AED 1 Billion monthly.
Executive Management Team
Hilal Al Zarooni President
A seasoned entrepreneur originating from a background in real estate and retailing of luxury goods. He has established the largely successful retail chain “ Le Paris Diamonds.” He has also managed and delivered prestigious developments at Jumeirah Lakes Towers such as One Lake Plaza, HDS Towers and HDS Business Center.
Kabir Mulchandani Chairman
A seasoned entrepreneur, originating from a background in manufacturing & distributing consumer electronics across India. Established and operated Dynasty Enterprises Inc. achieving total returns of over 2000%, with net and cumulative net profits of about AED 985.87 Million since 2005.
Nikesh Vishram Chief Executive Officer
Over 14 years experience within the Investment Banking arena, with key global management responsibilities held with Swiss Bank Corp, Union Bank of Switzerland and most recently Credit Suisse for the Fixed Income Derivatives and Banking business units.
Rajesh Gupta (MBA) Chief Financial Officer
Over 12 years of Corporate / multi-national companies in India & EU with profit center responsibilities. Positions held include General Manager (Ranbaxy Labs) & EU – Director of Sales & Business Development.
Neeraj Sehgal Senior Vice President, Structured Products
Has rich experience of over 14 years in Banking, Financial Services, Insurance and Wealth Management business. He has expertise in new business development , marketing & product development and sales & distribution. Prior to joining Dynasty Zarooni he has worked with leading Multi National Banks and Insurance company in strategic and leadership roles
Aloki Batra Vice President, Sales & Marketing
Over 8 years of experience in equity financial markets, consumer electronics & B2C portals. Experienced in sales, marketing & investments. Specialty in designing & implementation of systems & processes to enhance end user experience. Experience in designing and managing media campaigns.
Deven Shah Vice President, Operations
Over 24 years of experience in multinational companies. Experienced in operations, manufacturing, supply chain & total quality management(TQM). Specific focus and experience in ISO 9000 systems & implementation.
Dynasty Zarooni recently launched the Panoramic Heights, an upscale project in Abu Dhabi being developed by Tamouh.
Check out the video of the Tower, located on Al Reem Island, Abu Dhabi.
On August 23, Mumbai Mirror had carried a story about the alleged investigations being carried out by a government agency in Dubai into complaints against real-estate firm Dynasty Zarooni.
On further investigations, we found that the allegations were not true. Kabir Mulchandani, the 35-year-old chairman of Dynasty Zarooni explains why he is in the eye of controversy:
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Tagged Dynasty, Dynasty Zarooni, Kabir Mulchandani, RERA, Zarooni
On August 23, Mumbai Mirror had carried a story about the alleged investigations being carried out by a government agency in Dubai into complaints against real-estate firm Dynasty Zarooni.
On further investigations, we found that the allegations were not true. Kabir Mulchandani, the 35-year-old chairman of Dynasty Zarooni explains why he is in the eye of controversy:
• Mumbai Mirror: What made you shift your base from India to Dubai, and how difficult was it, business-wise, to relocate to Dubai and start from scratch?
Kabir Mulchandani: On a trip to Dubai in July 2004, I witnessed the beginnings of the process of creating one of the finest master-planned cities of our time. I immediately felt a desire to be a part of such a unique phenomenon. So in October 2004, I moved to Dubai and set up my company, Dynasty Enterprises Inc.
The total transparency and speed of transactions in a tax-free environment provided Dynasty Enterprises the opportunity to grow its profits by over 20,800 per cent in three years.
Then, in September 2007, we merged with the real estate group of Mr Hilal Al Zarooni.
Mr Zarooni was owner of a construction and development company, which had over 30 years of experience in developing projects and the retail of luxury goods in the UAE. The merged entity, Dynasty Zarooni Group, created the largest privately-owned investment company in the UAE.
The value of projects of Dynasty Zarooni group, which have been developed; are under development; and have been successfully invested and disposed off are over Rs 26,000 crores and in the process, investors of Dynasty Zarooni Group have made returns of over Rs 7,500 crores.
• MM: This paper recently carried a story about allegations made against your company which later turned out to be false. Do you see any plan by your adversaries in this campaign?
KM: Success has no friends. During the merger there were certain senior executive(s) in the company who felt insecure about their position in the merged entity.
Once the merger was effected, the covert operations of these executives came to light, along with details of other fraudulent activities being carried out by them.
These elements have constantly been working against the interests of ‘Dynasty Zarooni Group’ and have spared no efforts to create fraudulent and fabricated documents, which have found their way into the Indian media.
All allegations that have been given some credence by the fraudulent documents are, therefore, false and baseless. In fact, the Dynasty Zarooni Group has been given a clean chit by the The Real Estate Regulatory Agency (RERA), a body under Land Department, Government of Dubai.
• MM: Who are your competitors? What prospects do you see for your real-estate firm there?
KM: Our unique business model has helped us in fulfilling a niche requirement in the UAE market.
As such, we do not have direct competitors in the market. We already have strategic alliances with Al Fajer Properties LLC, managed by His Highness Sheikh Maktoum Hasher Al Maktoum, a member of the ruling Maktoum family; Business Bay LLC; Dubai Properties; Green Emirates Properties; Hydra Properties LLC; Mazaya Real Estate LLC and many more. All of the above are government, quasi government or listed entities and we are their preferred distribution partners.
The outlook for our company in the UAE real estate market continues to be bullish and we are now embarking on a Rs 30,000 crores project comprising over 6 million square feet in creating a prime new city on the water.
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http://www.gulfnews.com/BUSINESS/General/10240118.html
Dynasty Zarooni gets clean chit
By Saifur Rahman, Business Editor
Published: August 25, 2008, 23:12
Dubai: Dynasty Al Zarooni Real Estate is considering legal action against some Indian publications and those behind an alleged ‘smear campaign’ to malign its reputation, officials said.
The campaign has allegedly been launched by a former employee of Kabir Mulchandani, chairman of Dynasty Zarooni, who was fired for alleged ‘wrongdoing’, Gulf News has learnt.
Two Indian publications ran reports referring to some investors’ complaint that “he [Mulchandani] had misled them by showing a different property and selling them another”.
One of the reports said “Dubai’s Real Estate Regulatory Authority [Rera] is probing Mulchandani’s operations after nearly 30 NRIs from India, Russia and UK complained online”.
Dynasty Zarooni, formed in 2005, is a joint venture between Hilal Al Zarooni and Kabir Mulchandani. The company has been engaged in developing, buying and selling residential and commercial properties to wholesale investors and cashing in on soaring prices and growing demand that fetched solid returns.
“Dynasty Zarooni, having a real estate portfolio in excess of Dh20 billion, has been the target of a series of false accusations in relation to complaints from investors, with regards to their Ebony & Ivory project in Jumeirah Lakes Towers,” the company said in an e-mailed statement
The project is being developed by Al Fajer Properties, a leading property developer in the UAE, managed by its president Shaikh Maktoum Hasher Al Maktoum.
Over the past week there have been a number of internet blog stories and these culminating with a article in the Indian media, incorrectly quoting Rera officials, the company said.
The Ebony & Ivory development project is a Dh2.7 billion project, which was originally sold out within hours of its launch. “To date, the construction of all of the towers being developed by Al Fajer Properties is progressing rapidly,” the statement said.
Meanwhile, the Rera has given Dynasty Zarooni a clean chit.
“Dynasty Al Zarooni Real Estate has no violations relating to the registration of property brokers until August 25, 2008,” Rera said in a letter yesterday, a copy of which was obtained by Gulf News.
Hilal Al Zarooni, president of Dynasty Zarooni, told Gulf News, “We are pursuing legal action against those who are behind this campaign that is damaging our reputation.
“These imposters have not only targeted Dynasty Zarooni, but the UAE real estate market as a whole. The imposters should be brought to justice.” he said.
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