It also plans a sizeable acquisition of a factoring business in west central Scotland in the next year, as it pursues an ambitious expansion strategy.
Mr O'Neill believes these growth plans will boost Newton's annual turnover to more than £4 million over the next three years. Newton's turnover topped £1.5m in the 12 months to February 2012.
Mr O'Neill noted, when he sold his O'Neill property rental business in 2001, he had retained a small, £7000-a-year factoring operation and this had been the "seeds" of the Newton venture he established the same year.
Newton switched recently from Bank of Scotland to Clydesdale Bank. Mr O'Neill said Newton had borrowed about £250,000 from Clydesdale for its recent acquisition of a 4000 sq ft office on Port Dundas Road in Glasgow which he said was worth about £500,000. Newton moved to this office, from rented premises in Bath Street, in December.
Mr O'Neill, whose Newton business provides factoring services to about 7500 residential properties across central Scotland, is examining a move into Dubai as a result of an approach by a "fellow Scot who is a senior lawyer in an Emirates bank".
Highlighting the potential opportunity in Dubai, Mr O'Neill said: "Dubai boasts a huge number of luxury residential apartment blocks with common facilities, including swimming pools, roof terraces and gardens, but factoring businesses are few and far between over there.
"By contrast, factoring is a very well developed sector here in the west of Scotland, and it is our key area of expertise at Newton. We have been invited to use our skills in this service sector and apply them to the high-end, high-value and large-scale developments that Dubai has. We are confident that we can apply our wealth of business knowledge from the Scottish market to Dubai, by working closely in partnership with local providers."
He emphasised Newton would have to get "a pretty meaty" property instruction before moving into Dubai, but was confident this might be forthcoming on the basis of discussions so far.
Mr O'Neill said: "A bit like the old monkey, we wouldn't let go of one branch before we had a hand on another one."
Declaring Newton was "willing to be convinced" about Dubai, he added: "If there is dosh in it, if there is profit in it, we are up for it...We have been a one-unit operation til now. We have not tried to take over the world. We have tried to enhance our income from one core sector. The signs are this could be a bit of an opportunity, if there is a plethora of unmanaged buildings out there, but it has got to work. Money-wise, it has got to work."
He noted that Newton's turnover had grown by 30% per annum over the past two years.
Mr O'Neill highlighted investment in Newton's factoring business, including the acquisition about two years ago of the stock of Glasgow-based Factoring Direct. Newton also acquired the Glasgow rental stock of Edinburgh company Charles White.
Mr O'Neill founded Newton in 2001 with Brian Clarke and Sean Robinson, owners of Glasgow property company Park Lane, as small minority shareholders.
About two years after founding Newton, Mr O'Neill brought Derek MacDonald into the business. Mr MacDonald has an equity stake.
Grant Bett, business development partner for Clydesdale in Glasgow, said: "The opportunity to expand into the Middle East market is a real coup for Newton Property."