Latest news with #Mered
The National
11-04-2025
- Business
- The National
Money and Me: ‘I became a millionaire at the age of 35'
Michael Belton, chief executive of property development company Mered, grows his wealth by spotting attractive opportunities in real estate and investing in them early on. The American, 55, who was born and raised in Alaska, worked in Russia for more than 20 years and has been in the UAE for six months now. He graduated from the University of Massachusetts in arts and political science and went to Russia on a foreign exchange programme and 'fell in love with everything there'. Mr Belton started working for Hines, America's largest property development company, in 1993, and was with them for eight years in Russia. He started as a leasing consultant and ended as the head of development after 10 years. He also had a short stint in Saudi Arabia, where he worked for the giga project Qiddiya as head of development for one of their business units. 'The parent company of Mered is headquartered in Russia and has been involved in real estate development for 25 years, predominantly in residential real estate, and built more than three million square metres of space,' he says. 'They saw the market in Dubai as one where they could add value with their expertise. They are a master developer like Aldar and Emaar and have the capabilities and cash flow to expand in a new market.' Mered is currently developing three properties, one in Dubai and two in Abu Dhabi, with a total sales value of $1.4 billion. 'Since my arrival in October as chief executive of Mered, we have sold $120 million worth of apartments in Dubai,' says Mr Belton, who lives in Dubai's Bluewaters Island with his wife and a daughter. I grew up in a middle-class American family with hard-working parents. We had enough for the essentials. I admired my wealthy New York relatives and learnt that dressing smartly could positively influence people's impression of me. I learnt the value of money and education by seeing them and going out with them. Like most Americans, my first job was when I was 12, delivering newspapers. My first professional job was with Hines in Moscow, earning $1,500 a month. No, I'm a very curious person, so the harder I worked, the more responsibilities I was given and the more I was able to earn. I've received consistent salary increases through promotions due to hard work. There are always cycles in the real estate market, but I've somehow been shielded from many of them. As we are in the business of residential real estate, we understand where the market is headed. So, I'm able to buy in early at a good price to get attractive investments that I take advantage of. I hire financial managers to reinvest those profits. Real estate development is a more high-risk profile, but that's why the returns are usually 30 per cent to 40 per cent on my investment. I also have a very wide investment portfolio, which is preserved more for growth and not for quick returns. My financial managers aim to offer me 6 per cent to 8 per cent returns, so it's a very different risk profile, and it's something that is more generational for me as an investment. I am neither, instead, I am an earner. I'm more focused and interested in finding ways to earn money. I reinvest earnings in short-term, mid-term and retirement vehicles. As far as saving, I try to save money every month and invest it. I'm not a shopper. I believe so. You make some mistakes, you make some good choices. But overall, when I see what I started with and where I am now, what I'm able to pass on to my children, I would say, it's been pretty good. Investing in myself and my business, specifically purchasing properties I develop. I founded my own business in 2007 called Storm Properties and sold it to one of the largest home builders in Europe in 2008. The majority of my wealth is created due to the sale of that company. No. I value people and experiences over physical possessions like cars or jewellery. I'm not attached to houses, apartments or cars. I have many of them, but when I sell them, I don't have much attachment to them. It's an important tool to provide comfort to my family and me, especially in later years. The more money you make is not equivalent to how happy you are as a person. Many people have lots of money and are miserable, and some people have no money and they're happy. Start investing in residential properties earlier. I wish I had bought my first property when I was 25 years old. Many of them cost $50,000 then and five years later, they were worth around $500,000 to $600,000. Also, maximise pension contributions to take advantage of tax-deferred retirement products. I always maximised my 401(k). By putting in maybe $300 to $400 a month when you are younger, you don't notice the money going out. But after doing it for 25 years, there's millions of dollars in my pension fund because of that. Flying business class, staying in five-star hotels and enjoying dinners with friends without budget limits. It's not necessarily to go out and buy a new Patek Philippe watch or a new Lamborghini, but I derive pleasure out of these comforts for me, my family and friends. Becoming a millionaire by age 35. I'm 55 years old and fairly wealthy. My goal is to continue to grow my family's income to pass on to the next generation. I don't have a goal to become a billionaire. It's not my thing. Financially, I've hit all the goals that I set for myself. Right now, I'm at the age where legacy is more important for me. I'm a real estate developer, so I want to build beautiful projects, which will stand for many years after I'll be gone. I enjoy taking my children around to see a project when the foundation is being poured, and then, when the building's up, they come back five years later and say: 'Wow, my dad built that.' That's my goal. It's not financial anymore. I also own three properties. I plan to maintain two to four properties, buying and selling as market conditions allow. I aim to own a property at a ski resort in Switzerland or Montana.
Zawya
27-03-2025
- Business
- Zawya
MERED Inks strategic deal with HCM to give football stars access to premium residences
Dubai, UAE – In a groundbreaking collaboration that unites the fields of high-performance sports and world-class real estate development, MERED, the award-winning international real estate developer, has signed a landmark partnership with HCM, a leading sports management agency representing elite global football players. Mered is renowned for high-value real estate projects that embody the same principles of ambition, precision, and global influence found in elite sports. HCM has an extensive network of over 250 elite football players, including stars such as Viktor Gyökeres (Sporting CP), Frenkie de Jong (Barcelona), Antonio Rüdiger (Real Madrid), and Victor Lindelöf (Manchester United). 'This partnership is more than an alliance; it's a statement of intent. Through our partnership with HCM, we're proud to integrate our premium developments with the best in global sports, contributing to Dubai's growing reputation as a hub for both industries,' said Michael Belton, CEO at MERED. 'Just as elite athletes set new benchmarks in their fields, we are committed to redefining real estate standards through visionary design, and a commitment to excellence.' The partnership will see elite sports professionals actively engaged in key real estate launches and branding initiatives, enhancing the marketability and global appeal of MERED's developments, such as ICONIC Residences Design by Pininfarina. This initiative strengthens the company's positioning among investors seeking properties that reflect the highest standards of quality. "HCM represents some of the world's most successful and influential athletes, individuals who understand the value of peak performance, discipline, and strategic growth,' said Hasan Cetinkaya, General Manager, HCM. 'Partnering with MERED allows us to merge these principles with high-end real estate development, creating a collaboration that speaks to a unique global audience of visionaries, investors, and industry leaders.' The UAE remains one of the most sought-after destinations for real estate investment, drawing high-net-worth individuals and investors from Europe, North America, and beyond. With the country's residential real estate market expected to exceed $16 billion in 2025, MERED and HCM's partnership contributes to the sector's growth and reaffirms Dubai as a hub for innovation and opportunity. About MERED MERED is an international real estate developer pioneering a new era of luxury living. The brand fosters strong partnerships with top-tier architects, contractors, and service providers, sharing a commitment to their values and creating immersive lifestyle experiences, fusing automotive, yachting, wellness, elite sports, and fashion into high-energy, ultra-luxury communities. Its international team of visionary experts, driven by strategic cooperation, develops the real estate sector scout for a revolutionary branded residence concept, to transform urban living and set new benchmarks in the International real estate sector. About HCM HCM is an exclusive boutique agency for world-class football players. The Dubai-based company operates worldwide and represents Viktor Gyökeres, Frenkie De Jong & Antonio Rüdiger as well as almost 150 international players. Their work focuses on strategic career advice - on and off the pitch in the area of marketing. In addition to working with international elite clubs, HCM also deals with sporting issues and works with the best doctors, physiotherapists, athletic trainers and nutritionists worldwide. Founder and Managing Director Hasan Cetinkaya has always aspired to be one of the best with his agency.
Trade Arabia
18-03-2025
- Business
- Trade Arabia
Mered backs Pininfarina Academy's debut summer school in Dubai
Mered, the award-winning international real estate developer, is supporting the inaugural Pininfarina Academy, an educational initiative by Pininfarina, a global icon of Italian design. The academy is dedicated to fostering excellence in architectural design among emerging industry professionals, providing them with the opportunity to learn from world-renowned experts and explore cutting-edge design concepts at the company's headquarters in Turin, Italy. As part of this initiative, Mered will sponsor four students to attend the Pininfarina Architecture Summer School. The exclusive 3 X 3 X 3 Summer School launches this July with a course integrating advanced design techniques and Design for Manufacture and Assembly (DfMA) in contemporary architecture. The program is tailored to equip young architects with the skills and expertise to redefine modern architecture and urban development, said Mered in a statement. Participants will engage in hands-on workshops, keynote lectures by industry leaders, and practical applications of state-of-the-art technology, including AI-driven design, parametric modelling, and immersive VR/AR tools, it stated. By sponsoring four students, Mered reinforces its mission to redefine premium developments through visionary design and strategic partnerships by nurturing next-generation talent. With a portfolio that includes the ultra-luxury 290-m-tall Iconic Residences in Dubai Design by Pininfarina, an upcoming waterfront project in Abu Dhabi and having entered the Saudi Arabian market, Mered is shaping the future of high-end real estate, said the developer. The Pininfarina Architecture Summer School will be held from July 14 to 25, 2025, and instruction will be conducted in English. Applications are open to a select 12 aspiring architects, offering them a unique learning experience, the chance to connect with like-minded peers, and the opportunity to collaborate with industry leaders, it added.
