Real Estate Soars High as UAE Shows Astounding Growth Rates

“Indeed, the UAE’s property market has proven to be an alluring proposition for a diverse spectrum of purchases,” says Anjum Fazil.

In 2005, equipped with an experience of almost five years, in real estate Fazil, established her real estate agency, to provide enhanced support to her international clientele. By establishing a robust local presence, Anjum sought to offer an elevated level of service to those who had previously invested in properties, through her agency.

The success of Anjum’s agency hinges on a confluence of factors such as a thorough understanding of the market, an unwavering commitment to client satisfaction, and adherence to integrity and professionalism.

“One of the primary drivers of the high demand for properties in the UAE is its strategic location as a global business hub. The UAE’s business-friendly environment, combined with its world-class infrastructure, attracts investors and expatriates from around the world. This influx of people fuels the demand for both residential and commercial properties.”

The agency offers comprehensive property management supervision services. The management services include tenant administration, maintenance coordination, diligent rent collection with timely deposits into owner accounts, and stringent adherence to property upkeep and local regulations.

The laws in UAE have seen a series of policy reforms to facilitate expatriate property ownership. Some of these include the provision of long-term residency visas for property investors, expansion of freehold ownership to designated areas, and the establishment of a transparent and regulated real estate framework.

Commenting on the future of Airbnb, Fazil believes that the UAE will continue seeing a demand for short-term rentals facilitated by platforms such as Airbnb. This trend, catalysed by the growth in tourism and business travel, has prompted numerous property owners to capitalize on the opportunity by listing their properties.

“The UAE property market attracts investors from a global pool. Traditionally dominated by individuals from India, Pakistan, United Kingdom, and Saudi Arabia, the investor base has diversified in recent times to encompass a wider spectrum, including notable interest from China and Russia.”

Fazil believes that the prospect of substantial rental returns coupled with the potential for capital appreciation renders the emirate a compelling investment hub. Others are drawn to the region’s exceptional standard of living and unparalleled safety, opting to establish primary and secondary residences within its borders.

Bilal Moti

“Valuation is both science and art. It is the process of estimating the monetary value or worth of property,” says Bilal Moti.

In 2016 Moti founded Windmills Group in the UAE with the mindset of offering valuations and business consulting services with professionalism, transparency, service quality and quick turnaround time. Moti has ingrained business skills as he comes from a business-minded family. With 26 years of managerial expertise in his field, Moti met with unprecedented success. It is no surprise that with his managerial ability,

Today, it is a leading professional services firm in the UAE with branches in Dubai, Ajman and Abu Dhabi.

It undertakes the valuation of the subject property in detail from supporting documents and physical inspection and subsequently carries out an extensive market analysis which helps in determining the value accordingly. This process typically involves analyzing various factors of the property such as location, size, conditions, comparable sales transactions, income generation and many other factors.

Valuations are conducted for many purposes including buying, selling, financing, and financial reporting, etc.

Amongst the professional challenges faced by the business are ethics deployment, compliance with local standards, technical expertise development and quality service.

According to Moti, there are many commercial challenges as the company works with top-class institutions and organisations where the acceptance standards are very high. Other challenges faced by Moti are competition and client expectations.

Trust is an integral part of the company ethos. The key success factors for the company are integrity building, precise valuations, fast turnaround times, economic fee and first-class service. This has been achieved under Moti’s dynamic organisational and leadership skills along with his hard-working and experienced team.

In the year 2023, Dubai saw the highest real estate transactions of 133,000 valuing Dh41 billion in the last 10 years which is 37 per cent higher than 2022.

“Working and living in Dubai has allowed me to carve out a successful career while staying true to my roots and values.”

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