Sweid & Sweid celebrated the 15th year since its establishment in 2021, a milestone marked by the delivery of a generation of landmark projects, both in the U.S. and in its home market of the United Arab Emirates.
Three significant projects in the Sweid & Sweid portfolio reached completion and maturity during the last 12 months; with both the Visa CEMEA headquarters and Banyan Tree Residences Dubai now fully occupied, and the first U.S. multifamily residential project – The Haywood completing construction.
Commenting on the achievements of 2021, Managing Partner, Maher Sweid, remarked that it is fitting that the milestones reached coincide with the 15-year anniversary of the firm’s establishment. He said: “During the last 15 years, we have been through some challenging moments in a very turbulent industry. But the successes we have had this year are a testament to the strength of our capabilities, our position as a market leader, and show that our team of professionals can rise to any challenge.”
Banyan Tree Residences reaches full occupancy
Banyan Tree Residences – Hillside Dubai, Sweid & Sweid’s debut residential project in the UAE, has reached full occupancy and delivered record sales. The project was completed in 2021 in the midst of the pandemic, and the ensuing uncertainty it caused presented numerous challenges. However, demand has continued to exceed all expectations, and the resounding success of Banyan Tree Residences is something Sweid considers as one of the biggest achievements in the firm’s history. “The reception of the project from the market has been remarkable,” he said. “It’s proof that when a project is thoughtfully developed with quality materials and design, it will continue to outperform. It has really come alive as a destination, and we have created a community lifestyle that people love and enjoy being a part of.”
Visa occupies new HQ
The Visa CEMEA Headquarters project was completed in the final quarter of 2021, with the building now fully occupied by the tenant. Construction of the commercial development faced many challenges brought on by Covid-19, as issues with site restrictions and procurement provided a unique set of obstacles that had to be overcome. Despite these once-in-a-generation challenges, the project was delivered on time and to the quality demanded by one of the world’s leading fintech companies.
The Haywood reaches handover point
Sweid & Sweid’s first U.S. project, The Haywood, completes the trio of milestone projects for the developer in 2021. The 372-unit multi-family development, located in Austin, Texas, commenced delivery of units in the middle of the year, proving Sweid & Sweid’s ability to penetrate and work across various global markets. Driven by the quality of the project, its accessible location, and strong market fundamentals, leasing of apartments at The Haywood exceeded four times the expected momentum, and is rapidly approaching stabilisation. With Sweid & Sweid’s second U.S. residential project launched in 2021, the stage is set for greater future expansion into the U.S. market.
If 2021 was the year for delivering existing projects, 2022 promises to be a year for launching a new wave of developments. “We have strengthened our team with the addition of new experience and energy in preparation for the new projects we have planned,” Sweid explained. “We continue to institutionalise our platform and refine our processes ready for the next generation of developments. 2021 saw us wrapping up numerous milestone projects, and we have showcased our capabilities for delivery with three unique completions.
“We’re looking at some big project announcements in 2022,” Sweid continued. “We have our objectives in place, and the ability to achieve them. If 2021 was all about successful delivery, 2022 will be focused on utilising our ever-expanding momentum and track record to introduce the next generation of international projects.”