History Matters.

We have the context to deliver outcomes.

We help investors and landowners buy, build, manage and exit their real estate assets.

Felix Partners - a marketplace constant.

The UAE, as seen by locals.

Dubai
2017·Q1
Each circle is a community · colour = median AED/ft² that quarter · size grows with cumulative transactions · press play to watch 2017 → today · hover to inspect.

Our Business.

01

Investment Advisory

Investors, family offices & institutions
We create, source and execute tailor-made strategies, acting solely on your behalf.Origination → Diligence → Structuring → Closing
02

Asset Management

Investors, family offices & institutions
We identify and execute a plan to uplift value and manage the disposal process.Conceptualise → Capex → Service Charge → Leasing → Disposal
03

Development Management

Developers, landowners, UHNW & institutions
We deliver bespoke projects, from high-end villas to high-rise mixed-use buildings.Investment Thesis → Feasibility → Design → Approvals → Handover / Exit
04

Capital Partnerships

Family offices, UHNW, landowners, institutions
We develop high-conviction ideas, curate vetted deal flow and execute an agreed strategy as your local operating partner - our capital at risk alongside yours.Mandate → Co-investment → Implementation → Reporting

Focused Practice.

Our specialism is value-add and opportunistic real estate - assets in need of development, refurbishment or repositioning to extract maximal value. Originated deals vary with our outlook; our focus shifts to finding the greatest risk-adjusted value at any given point in the cycle, be it mispriced assets or overlooked strategies.

Example
Leasehold assets
As land became hard to secure, we targeted long leaseholds with low ground rents in central locations - entry at ~40% of comparable freehold values.
Example
Bulk renovation
Wholesale acquisition of 110 villas to expand and reposition - average plots 6,500 ft², all-in cost ~65% of comparable new-build in less prime locations with smaller lots.

Insights Actioned.

Like many, we analyse public real estate data sets - albeit via a proprietary AI platform. Like few, we enhance this with intelligence from our physical network of agents, developers, architects and consultants - capturing what is not yet reflected in public data and adding context to current transactions.

Insight · Too early
Ultra-prime, pre-signal
Bvlgari Residences at Jumeirah Bay Island had sold just 45% of its inventory at handover in 2018; in 2021, units were still available directly from the developer on a post-handover payment plan. We didn’t act until enquiries, rentals and sales for top-decile homes emerged across Dubai’s best addresses post-Covid - the signal of an emergent trend towards ultra-prime. Abundant tier-1 contractor capacity allowed expansionary margins in an undersupplied market.
Insight · Too late
An overcrowded trade
By 2025, our view changed as:
1. Prices grew speculatively toward $4,500 / ft² for product designed, built and profitably sold for under $1,000 / ft².
2. Transacted land and un-refurbished villas required underwriting price appreciation to meet basic return thresholds.
3. Build-to-rent funds began selling units off-plan, sensing a growing dislocation between cap rates and retail pricing whilst anticipating rental mean reversion.

Actioned. We pivoted - cancelling a development project 18 months in the making, and profitably exiting the prime development land parcel in Q4 2025, delivering 90% of the underwrite immediately without taking on any development risk.

Ultra-prime was never a “no-brainer.” Relying on a team that knows the market is.

Bvlgari Residences · Jumeirah Bay Island · $/ft² - median & top sale · 2017-2025

Risk / Return.

01
Cyclical discipline
Consistent long-term returns are a by-product of avoiding big mistakes; our deals reflect our view of the cyclical position.
02
Asymmetric payoffs
We target profiles with greater upside than downside; given the illiquidity of real estate, our primary focus is managing downside risk rather than chasing upside.
03
Opportunity everywhere
Up-cycle or down, opportunities exist. Our role is to source, assess and execute each one to the best of our ability.

Forward Funding.

Forward funding is our bespoke residences programme, delivered on a white-label basis - we create and deliver a finished ultra-prime home to your specifications.

UHNW individuals have acquired or rented turnkey homes at prices previously unseen in the UAE - resulting in large windfalls to the parties undertaking the refurbishment.

By funding the acquisition and build, you retain the development margin, instead of the investor group that acquired and renovated the turnkey villa.

We manage plot acquisition, design, approvals, tendering, construction and handover - with a concierge service to secure interim accommodation while your home is delivered.

Construction is delivered through our affiliate, Shield Contract Services.

Entrepreneurial Mindset.

We think like principals because we are. Felix is a partnership of specialist practitioners and domain experts - qualified operators with demonstrable track records and established networks, willing to co-invest and align our outcomes to delivering returns.

We commit our own capital or tie our fees to outcomes, so we win when you win.

Arabia Felix · العربية السعيدة

The Romans named this corner of the world Arabia Felix - fortunate Arabia, the land of opportunity. The UAE remains our primary geography and area of focus.

ARABIA FELIX ARABIA DESERTA ARABIA PETRÆA CARMANIA ÆTHIOPIA Sinus Arabicus Sinus Persicus Mare Indicum DVBAI
Arabia Felix · العربية السعيدة

The Partners.

A core team of seasoned practitioners, extended by a vetted network of domain specialists.

Ali Hossain
Ali Hossain
Managing Partner
20+ years and 12,000 homes ($7bn+ GDV) delivered across the UAE.

From mid-income master plans to ultra-luxury branded residences, with transactions across major global markets and every real estate sector.CFA · CAIA · MRICS · IESE PMD

Brendan Carbery
Brendan Carbery
MD · Shield Contract Services
30+ years delivering major construction, 16+ in the Middle East.

Commercial lead on high-profile projects, managing procurement, client and contractor valuations, and financial reporting.MRICS · Chartered Arbitrator · AACE CCP

Raymond Hector
Raymond Hector
Investment & Strategy
30 years principal-side, with institutional-grade governance.

A development and commercial executive who combines big-platform experience - Aldar, Qiddiya, Kerzner, Majid Al Futtaim - with disciplined governance.RE Development & Mgmt, Heriot-Watt · Dip. Construction Mgmt

Daniel Brooks
Daniel Brooks
Principal Architect
Residential designer and developer behind $1bn+ of private commissions - designing for how we will live tomorrow.

A residential designer, developer and strategic thinker who has contributed to over $1 billion of private commissions for ultra-high-net-worth clients across Europe and the Middle East. London-born and Paris-trained, he grounds his work in classical principles - order, proportion, hierarchy - but begins every project with one question: what is the big idea? He designs for the future - homes that reduce stress, reconnect people with nature and improve wellbeing. Alongside design, he has developed multiple UAE residential projects, achieving record pricing (including an AED 220 million sale in Emirates Hills) without compromising design quality.$1bn+ private residential · London · Paris · Dubai

Martin Heffernan
Martin Heffernan
Project Director
25 years in construction across Ireland and the UAE.

Deep ultra-luxury residential expertise - bespoke villas and homes at Jumeirah Bay, Emirates Hills, Palm Jumeirah and Dubai Hills, delivered against complex briefs and demanding timelines.Commercial Economics, Heriot-Watt

Scott Lambert
Scott Lambert
General Counsel
38+ years in construction and infrastructure law, GCC and Australasia.

A former partner at leading firms in Australia and the UAE. Landmark work includes the Dubai Metro expansion, Al Maktoum Solar Park, W Hotel Palm Jumeirah and Wasl Tower.Qualified - Australia & UAE

Let’s Talk.

We work largely by introduction and referral. For a mandate, a partnership, or simply a considered view on an asset, you can reach a partner here:

Felix - your invested partners.