• Expo2020’s impact on today’s real estate market

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    •  Firas Al Msaddi  Sunday, 16 February, 2020  

      Expo2020’s impact on today’s real estate market

      Throughout its history, Dubai has shown the world what is possible through its extraordinary development. Fourteen years in Dubai and I continue to be inspired and fascinated every single day by the greatness of its landmarks, quality of services, consistent innovation, world-class infrastructure, growth and leadership. Just like any other success story, what we see today is a result of the enormous effort of all stakeholders under the guidance and the vision of HH Sheikh Muhammed Bin Rashid Al Maktoum. 

      With Expo 2020, Dubai will go a step further in inspiring the next generation to trigger innovations that will underline the next five decades of human progress. Being the first to be hosted by an Arab nation, it is one of the greatest milestones that Dubai is going to achieve. With the theme “Connecting Minds, Creating the Future”, the EXPO2020 will be a celebration of human brilliance and achievement. I foresee it to be an amazing opportunity for people from every corner of the world, to experience unsurpassed science, technology and innovation. It will undeniably support the growth of tourism, stimulate the development of innovative businesses in the UAE, and enhance Dubai’s already solid international status as a location to do business.

      What does the EXPO 2020 mean for real estate?

      The emirate’s 50-year plan and the Dubai Expo 2020 will now be key indicators for demand-and-supply trends in the market. I believe that the Dubai real estate market is going to benefit immensely from the Expo 2020 as it is expected to attract 25 million visitors, of which 70 per cent will be from outside the UAE. While this surge in population, albeit transient, it will add significantly to the GDP, and in turn fuel an optimistic market sentiment. It’s commonly known that property values in Dubai have reached record lows and as a result this has lowered the entry barrier for home owners to purchase their first property and investors being presented with exponentially improved returns, this new level of affordability is sure to be alluring for international investors and visitors to the country with the EXPO. 

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    •  Firas Al Msaddi

      Securing a stable job in Dubai

      Were you promised with a secure and stable job during a booming market? In a booming market, every company promises stable and secure jobs. The secret to job security in 2020 and beyond is to remember that we build our own security and carry it around with us.  Stay employable: Your priority should be to concentrate on being employable, not staying employed. Jobs will come and go. You could lose one job (or quit on you own) and find another one quickly. How? Because you know the market, and people know you. Stay close to the marketplace to understand how it is morphing and changing over time.  You will keep your skills up to date with the market: Candidates with experience are important, but those who can evolve their sales techniques and improve their knowledge and skills in line with an ever-evolving market are the ones I will choose every time. You may work for an organization that is behind the times. Their technology is old. That works for them — bu        

      Securing a stable job in Dubai
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    •  Firas Al Msaddi

      Case Study: Investor without a local bank account? Not a problem.

      One of our agent received a client for buying a property in Trident grand, He dealt with the client for 2 weeks offered 3 units which would be perfect. The buyer made an offer of  AED 1.7M on 26th February for a property which our agent had for AED 2.2M. Usually many agents would reject this client and move on to something else, however our agent persevered and pushed the owner as he believed the offer was very good. It turns out the seller was really motivated and needed to sell, however, they were under the impression that other agencies had a client for the property at a much higher price. Our agent challenged the seller to request a cheque from the other agents and none of them could deliver. The main challenge came once both parties agreed to AED 1.8M, our agent requested a cheque from the buyer, but it so turned out that the client who is a European national didn’t have any bank account in Dubai. Undeterred our agent requested some advice fr        

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    •  Firas Al Msaddi

      A CASE STUDY: 'HOW CAN WE HELP YOU?'

      When it comes to any real estate transaction there are certain steps and documents that need to be in place in order to successfully transfer a property. The Problem But what do you do if the seller loses the title deed? To make the challenge even more challenging: the buyer had given the seller a really tight deadline to sort out all of the documents needed to transfer the land, as the security clearance could take up to 2 weeks to be issued. We had to act and we had to act fast. The Solution As my client panicked, it was my time to focus. I went into overdrive to make everything happen. I headed straight on the case to getting the client his title deed back. Armed with my years of experience, knowledge and great relationships built with necessary parties concerned, I began running from department to department to get things done in time. I knew exactly what needed to be done, therefor I could get right on it. The seller was with me in the car all day and what he        

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    •  Firas Al Msaddi

      Case Study: International Seller living outside of Dubai without correct building permit

      The UK client made initial contact asking on the current market trends and suggested they would be very interested in selling their Villa for the correct price. This Villa was chosen specifically upon construction for the elevated plot, view and size of the area. The client had received various very attractive offers over the years and this varied from 2008 depending on market conditions at the time.  This client was realistic about the current market and had a figure in mind of what they would accept, However, having been offered a substantial amount over the OP then was very set in this figure in order to take into account the current market value of the property. During initial discussions, we explained we could set the price at "x" amount and it would just be another villa in the area for sale or, due to the very attractive size and location then we could price it well and it would most certainly attract buyers in that and surrounding areas.  We prepared        

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    •  Firas Al Msaddi

      Will the Dubai real estate market experience a bigger sell-off?

      In this report, I chose only to focus on the ready re-sale apartment market. I strongly believe that the true market price cannot be measured by off-plan project prices, but by the secondary re-sale market as it represents the end-user’s demand and is least affected by short-term investors or speculators. The below report factors all of Dubai freehold communities collectively for ready apartments. If you wish to generate the same report for a specific the project, you can simply visit Property Trends and choose the community or the project of your interest, as well as the time frame to generate a ready and simple to read the report.       The fact that we have been witnessing a soft and continuous decline in the average price per sqft, total value and number of sales transactions of ready apartments since their market peak end of 2013 and 2014, makes today’s market fairly stable. Simply because over the past 5 years, the majorit        

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