Land Sourcing & Acquisition
Identification, evaluation, and acquisition of development sites aligned with the division's institutional thesis and long-term portfolio strategy.
Private Office — Dubai
AMKM Development & InvestmentCommercial Real Estate Development
AMKM Development & Investment is the Office's commercial real estate development arm — building, owning, and operating institutional-grade assets across the United Arab Emirates and the wider region.
Mandate
A Principal Developer
AMKM Development & Investment originates, structures, and delivers commercial real estate projects from inception through long-term ownership. Operating as a principal developer rather than a service provider, the division takes positions in projects it controls - assembling capital, securing land, defining the project, managing design and construction, and holding completed assets within the Office's portfolio.
The division does not act as a general contractor and does not undertake construction directly. Instead, it operates the orchestration layer that institutional commercial real estate development demands - sourcing the opportunity, structuring the capital, selecting the design and construction partners, and stewarding each asset through completion and beyond.
Capabilities
Full-Spectrum Development
Concept & Masterplanning
Definition of project programming, asset class, and design brief - establishing what the development becomes and the value it generates over its lifecycle.
Capital Structuring
Assembly of debt and equity capital stacks appropriate to each project, drawing on the Office's institutional standing and relationships across the regional capital landscape.
Design & Permitting Oversight
Selection and management of architects, engineers, and consultants, alongside the navigation of government approvals and regulatory frameworks essential to delivery.
Construction Oversight
Appointment and management of contractors, with disciplined project controls governing schedule, cost, quality, and risk through to handover.
Long-Term Ownership & Asset Management
Stewardship of completed assets through leasing, tenant relationships, and operational performance - with disposition undertaken only where strategically aligned with the Office's interests.
Principles
Development Philosophy
I.
Principal Position
AMKM Development takes principal risk on every project it undertakes. Capital alignment with the Office's long-term mandate is the foundation of how the division selects, structures, and stewards each development.
II.
Disciplined Selection
Selectivity defines the division's posture. AMKM Development pursues a limited number of projects at any given time, prioritizing institutional quality and long-term value over volume of activity.
III.
Institutional Standards
Every project is delivered to standards consistent with the Office's reputation - in design, in execution, in governance, and in the counterparties engaged across the development cycle.
Leadership
The Development Team
Chairman
Sheikh Ahmed Bin Mana Bin Khalifa Al Maktoum
Sheikh Ahmed provides the strategic mandate and governance oversight for AMKM Development. As Chairman, he sets the division's posture on institutional standards, capital discipline, and the long-term ownership horizon that defines AMKM's approach to commercial real estate. Every project undertaken by the division operates within his framework of values-aligned development and reputation-first execution.
Director and Head of Commercial Real Estate
Denis Radzimovskii
Denis leads AMKM Development's commercial real estate function, bringing over twenty years of senior commercial real estate experience across the world. In his career, he has originated and closed more than one hundred transactions with an aggregate value exceeding five billion dollars. He has been recognized as Person of the Year by the regional chapter of Commercial Real Estate magazine and is a frequent market expert for international media on regional real estate developments and smart city transformations.
Head of Strategy & Origination
Adel Aktouf
Adel leads strategy and origination for AMKM Development, structuring the division's pipeline through institutional relationships across the public and private sectors. He partners closely with the Chairman on project selection, capital structuring, and the formation of joint ventures with landowners, government entities, and strategic counterparties. His remit covers the early-stage architecture of every project - from opportunity identification to deal closure.
Head of Project Management & Risk
Alexey Belkov
Alexey leads project management and risk for AMKM Development, applying a data-driven approach to project controls, schedule, cost, and risk governance across the division's pipeline. He holds PMP and CRMP certifications and brings deep experience advising on infrastructure strategy and corporate risk frameworks for major international firms. His remit covers disciplined delivery of every project alongside the risk frameworks that protect the division's institutional standing. Alexey is an alumnus of the Higher School of Economics.
Engagement
Institutional Inquiries
AMKM Development & Investment does not accept unsolicited proposals or cold outreach. Landowners, capital partners, government counterparties, and co-investors aligned with the division's mandate may submit inquiries through the Office's engagement channel. Each inquiry is reviewed according to strategic fit and the Office's standards of selectivity.
Contact AMKM