It takes a certain eye to spot the right location and it takes rich experience and understanding to qualify the right investment opportunity. In early in 2013 I identified City Walk as one of the most glamorous new developments, and a great investment opportunity.
After completing the due-diligence, I very passionately offered the project to my clients, yielding over 1 billion Dirhams worth of investment. By 2018, we exceeded 3 billion Dirhams worth of transactions.
When I went to view the location of the first building I acquired on behalf of my clients, the representative from Meraas pointed at a tree and said: this where the building is going to come. The project had not gained any interest as of yet from many agencies in Dubai as it was at the initial stages of construction. I strongly believe that “if the opportunity is known to everyone, it is no-longer called an opportunity”.
What interested me in City Walk from day one, is the fact that it was undersupplied. If anyone wants to live in a free-hold, low-rise, modern and well-located apartment that contains one of a kind retail and entertainment destinations, there is nothing in Dubai like City Walk.
Another key project for Fam Properties has been Mada Residence. We took the 36-storey, Dh600 million tower located in Downtown Dubai under our development advisory arm. We did it alongside the investors from scratch, From acquiring the land, building all the financial modelling, market research, business analysis, legal, CRM and internal governance, through to sales and marketing, after-sales, and handover.
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