Meteora Developers pledges significant funds for CSR initiative

Dubai real estate company earmarks portion of revenue from each unit sold in three towers being built in JVC.

Meteora Developers, a rising prodigal name on Dubai’s real estate landscape, has reaffirmed its commitment to corporate social responsibility (CSR) by earmarking funds for impactful initiatives that reflect the company’s dedication to social welfare.

Founded by entrepreneurs Praveen Sharma and Omar Al Amour, with a strong personal track record of philanthropic endeavours in their respective countries of India and Jordan, the Meteora Developers pair has put down a united marker in efforts to make a lasting impact on the local community. For each unit sold, a fixed percentage will be apportioned to a fund for CSR, the owners have now said.

Having recently celebrated the successful sellout of their first two building towers within days of their launch and a third underway in the Jumeirah Village Circle community, Meteora Developers is not only transforming the neighbourhood, but also enriching lives. A total of six towers worth Dh700 million are lined up for 2023. Three-fourths of the inventory from the first three towers has already been booked.

“As we experience a heady mixture of accomplishment and growth potential,” Mr Sharma said, “we recognise the opportunity for us to positively influence lives beyond our architectural highlights. The possibilities are many, and we are meticulously exploring ideas and avenues to utilise the CSR-earmarked funds. We will try a holistic approach, with a focus on initiatives that uplift and empower the underprivileged segments of our society.”

Among the multi-pronged approach, Mr Sharma is currently looking at a project with children of special needs. An integral aspect of the funds for CSR agenda will be the welfare of the labourers and construction workers. Another avenue being aggressively pursued is that of tree plantation, a deed Mr Sharma has done back in his home state of Rajasthan, where he undertook planting young trees which have grown into big, leafy ones on an adopted one-kilometre stretch of an arterial road.

There have been spontaneous acts of charity and financial help to employees in Dubai in needy times. The same goes for Sharma’s introvert partner Mr Omar Al Amour back home in Jordan.

The humane work culture and environment, along with strong financial acumen, is a part reason the third building, Vita Grande, is also on course to being sold out as the CSR plans are being finalised as well. Mr Sharma revealed that 240 units had been sold by third week of August and an average of 1,000 dirhams per unit has been allocated for CSR.

The disclosure came on the sidelines of his birthday, which he celebrated with the workers by distributing nutritious lunch meals on the project site of Vita Grande. “These unsung heroes, toiling under the relentless sun, far from their homes, play an instrumental role in constructing homes for others,” Sharma said.

With a vision for humanity that extends beyond the brick and mortar, Meteora Developers’ steadfast commitment to CSR is a way of channeling the founders’ passion for community welfare through their business endeavours as the company aims to set new standards in responsible real estate development.