Property tycoon Nick Candy is increasing his focus in the Middle East. He aims to set new benchmarks for luxury in a region that’s already well known for its grandiose developments.
The new joint venture aims to ‘amplify the ultra-luxury real estate landscape’ in the UAE, Middle East and beyond.
Nick’s private investment firm Candy Capital‘s is partnering with Modon Holding, one of the largest real estate developers in the Middle East, to focus on developing a portfolio of high-end property projects in the region.
Modon, based in Abu Dhabi, is renowned for creating iconic projects that combine living, leisure and business. As of June 2024, Modon reported a market capitalisation of AED 45.94bn, representing a 114% growth year-on-year.
The firm counts sovereign wealth fund ADQ and the UAE’s largest listed firm International Holding Co. – both part of an empire overseen by Sheikh Tahnoon bin Zayed – as its biggest shareholders.
Candy Capital has already teamed up with the Dubai World Trade Centre (DWTC) as part of a collaboration aimed at developing ultra-luxury real estate projects in the emirate, including a branded residences project, hotels and commercial space.
‘”This partnership reflects our commitment to redefining luxury living on a global scale. We look forward to creating iconic developments that will set new benchmarks in design and quality.”
Nick Candy
