Provident Estate
{{notability|1=Companies|date=April 2025}}
{{Short description|Real estate company based in UAE}}
{{Infobox company
| industry = Real Estate
| founded = {{start date and age|2008}}
| founder = Loai Al Fakir
| hq_location_city = Dubai
| hq_location_country = UAE
| num_employees = 300+
| website = [https://www.providentestate.com ProvidentEstate.com]
}}
Provident Estate is a real estate firm headquartered in Dubai, specializing in various services such as property acquisition, leasing, and property management.{{Cite web |title=Dubai Real Estate Market Report 2023: Record growth and strategic shifts |url=https://www.zawya.com/en/press-release/research-and-studies/dubai-real-estate-market-report-2023-record-growth-and-strategic-shifts-mdf6jdb0 |access-date=2024-05-31 |website=www.zawya.com |language=en}}{{Cite web |title=COP28 sparks a green transformation in Dubai's real estate landscapes |url=https://www.zawya.com/en/press-release/research-and-studies/cop28-sparks-a-green-transformation-in-dubais-real-estate-landscapes-lk2zvw2a |access-date=2024-05-31 |website=www.zawya.com |language=en}}{{Cite web |last=Frishberg |first=Hannah |date=2023-12-05 |title=Unbuilt penthouse sells for record-breaking $136M in Dubai |url=https://nypost.com/2023/12/05/real-estate/unbuilt-penthouse-sells-for-record-breaking-136m-in-dubai/ |access-date=2025-04-07 |language=en-US}}{{Cite web |last=اليوم |first=دبي-الامارات |date=2023-11-19 |title=في صفقة استثنائية.. بيع أغلى شقة «بنتهاوس» في دبي بـ 500 مليون درهم |url=https://www.emaratalyoum.com/business/local/2023-11-20-1.1801548 |access-date=2025-04-07 |website=www.emaratalyoum.com |language=ar}}
The company also have built Dubai's record-setting penthouse at Como Residences on Palm Jumeirah, sold in 2024 for approximately $136 million. {{Cite web |last=Prisco |first=Jacopo |date=2023-12-05 |title=Yet-to-be-built Dubai penthouse sells for record $136 million |url=https://edition.cnn.com/travel/dubai-penthouse-sells-for-record-136-million-spc-intl/index.html |access-date=2025-04-07 |website=CNN |language=en}}{{Cite web |last=red |title=Wer eines der teuersten Penthouses der Welt gekauft hat {{!}} Heute.at |url=https://www.heute.at/s/wer-eines-der-teuersten-penthouses-der-welt-gekauft-hat-120008398 |access-date=2025-04-07 |website=www.heute.at |language=de}}
History
Provident Estate was founded by Loai Al Fakir in Dubai in 2008.{{Cite web |last=Baby |first=Anika Eliz |date=2023-07-22 |title=How One Guy Went From Living In A Car in Dubai To One Of The Biggest Real Estate Businesses |url=https://lovin.co/dubai/en/latest/how-one-guy-went-from-living-in-a-car-in-dubai-to-one-of-the-biggest-real-estate-businesses/ |access-date=2024-05-31 |website=Lovin Dubai |language=en-US}}{{Cite web |last=Smith |first=Lisa |date=2023-07-04 |title=Top 5 Real Estate Agents in Dubai |url=https://www.iexpats.com/top-5-real-estate-agents-dubai/ |access-date=2024-05-31 |website=iExpats |language=en-US}}
In the first quarter of 2023, Provident Estate finalized exclusive deals with Select Group and Sobha Realty development companies. These transactions, totaling more than AED 635,000,000 in sales, marked some of Provident Estate's largest deals during the period.{{Cite web |date=May 17, 2023 |title=Provident Estate transacts over AED 635mln on exclusive deals |url=https://www.zawya.com/en/press-release/companies-news/provident-estate-transacts-over-aed-635mln-on-exclusive-deals-leb110tq |access-date=2024-05-31 |website=www.zawya.com |language=en}}
In June 2023, Provident Estate obtained exclusive rights to launch and sell Habtoor Tower, the Al Habtoor Group's inaugural freehold property on Sheikh Zayed Road.{{Cite web |last=Singh |first=Marisha |date=2023-06-14 |title=Provident Real Estate awarded exclusive rights to launch and sell Habtoor tower |url=https://gulfbusiness.com/provident-real-estate-awarded-exclusive-rights-to-launch-and-sell-habtoor-tower/ |access-date=2024-05-31 |language=en-US}}{{Cite web |date=June 14, 2023 |title=Provident Real Estate awarded the exclusive rights to launch and sell the world's largest residential tower |url=https://www.zawya.com/en/press-release/companies-news/provident-real-estate-awarded-the-exclusive-rights-to-launch-and-sell-the-worlds-largest-residential-tower-yiecciu7 |access-date=2024-05-31 |website=www.zawya.com |language=en}}
In December 2023, Provident Estate sold the 3rd most expensive penthouse in the world covering almost 22,000 square feet{{Cite web |last=Prisco |first=Jacopo |date=2023-12-05 |title=Yet-to-be-built Dubai penthouse sells for record $136 million |url=https://www.cnn.com/travel/dubai-penthouse-sells-for-record-136-million-spc-intl/index.html |access-date=2024-05-31 |website=CNN |language=en}} – Como Residences on the Palm Jumeirah for over $136 million.{{Cite news |last=HENDRICKSON |first=V.L. |title=Dubai Penthouse Sets Price Record for the City With AED 500 Million Sale |url=https://www.mansionglobal.com/articles/dubai-penthouse-sets-price-record-for-the-city-with-aed500-million-sale-8cf4d6da |access-date=2024-05-31 |language=en-US}}{{Cite web |date=2024-01-08 |title=The most expensive penthouse in Dubai sells for £95 million |url=https://uk.news.yahoo.com/most-expensive-penthouse-dubai-sells-160244975.html |access-date=2024-05-31 |website=Yahoo News |language=en-GB}}{{Cite web |last=Frishberg |first=Hannah |date=2023-12-05 |title=Unbuilt penthouse sells for record-breaking $136M in Dubai |url=https://nypost.com/2023/12/05/real-estate/unbuilt-penthouse-sells-for-record-breaking-136m-in-dubai/ |access-date=2024-05-31 |language=en-US}}