UAE’s Lamar Development targets €250m investment in Europe

Dubai-based real estate company Lamar Development is significantly increasing its European presence with a €250 mln investment. 

Casa Lamar

This expansion, fuelled by their success in Spain, will focus on prime residential locations in Spain, Greece, and Portugal. 
Their recent acquisition of Casa Lamar, a 6,000 m2 property in Madrid's upscale Calle Cedaceros, marks a key step in this strategy. This former office building will be converted into high-end residences, representing Lamar's first venture of this kind. 
This move builds on Lamar's track record in Spain, where they have successfully developed and sold 16 properties, including the Villa Mashrabiya in Marbella. 
Known for their commitment to design excellence and collaborations with renowned architects like Marcio Kogan and David Chipperfield, Lamar Development aims to further elevate residential standards in Europe.
Henri Hottinger, partner of Lamar Development, said: “As Spain emerges as one of Europe’s most compelling ultra-luxury property markets, we are making a decisive, long-term commitment to its key residential sectors. Our developments across 16 coveted sites – including Marbella’s acclaimed villas and now our Madrid property – reflect a bold, design-led vision for European living. We’re pleased with how our developments are performing and are actively building a large pipeline of new opportunities across the continent, which we look forward to sharing in due course.”  
Rayyan Al Ajaji, co-founder and managing partner of Lamar Development, commented: “We identified a clear opportunity to expand our model into Europe and saw strong alignment between market demand and our design-led approach. Marbella was a natural extension of the strategy we established in the UAE. With Casa Lamar in Madrid, we are scaling that model into a broader European context – targeting cities where design, lifestyle, and long-term value intersect.”
Abdullah Al Ajaji, co-founder of Lamar Development, added: “As we scale our presence across Europe, the focus is on building a resilient, high-performing portfolio that reflects both our long-term vision and disciplined investment strategy. This acquisition in Madrid is not only a statement of intent, but a benchmark for the projects we will continue to deliver. We remain committed to applying the same level of strategic oversight, design integrity, and operational excellence that has defined our growth to date.”
Lamar Development's European expansion goes beyond the Casa Lamar project in Madrid, with continued investment planned for luxury properties in Marbella and new ventures in the Spanish countryside. Greece and Portugal are also key targets in their growth strategy, with more projects slated to be announced through 2026 and beyond.
This move into mainland Europe builds on Lamar Development's 12-year track record in the UAE and the broader MENA region.