The Specialists leverages global network of customers to help restore investor confidence in Dubai property market

The Specialists leverages global network of customers to help restore investor confidence in Dubai property market

Influx of new foreign capital crucial to sustain growth of real estate sector

May 27, 2009
The Real Estate Specialists, a complete real estate solutions provider with over 20 years experience in the Gulf region, has recently announced that it is leveraging its extensive global network of partners and customers to support an ongoing campaign to boost consumer confidence in the UAE's real estate market. Furthermore, The Specialists revealed that it has taken steps to help make it easier for investors, particularly foreign nationals, to buy properties as part of initiatives aimed at boosting liquidity in the property sector and sustaining market growth.

The Specialists disclosed that government intervention will also play a major role in creating new avenues for fresh investments to enter the property sector by implementing investor-friendly policies and streamlining investment processes. The banks' renewed interest to offer financing facilities has been another important deciding factor identified by The Specialists that will help attract new capital into the country's real estate industry.

Mohamed El Sabbagh, Managing Director, The Real Estate Specialists said: "Efforts to boost consumer confidence are crucially important to reach our ultimate goal of reinvigorating the property market. The Specialists has contributed to such a campaign by leveraging our global network of partners and customers to create awareness about the positive developments that are happening in the property market of Dubai and the UAE. Investors need to be properly informed to make rational investment decisions and to encourage them to resume their investment activities."

"The decision to provide short-term, multiple-entry visas to foreign owners of properties was certainly a very commendable move by the UAE Federal Government that will surely create a positive impression on foreign investors. Measures such as this are clear indications that the UAE is moving in the right direction towards ultimately recapturing the confidence of international investors," added Sabbagh.

The UAE Federal Government recently introduced a multiple-entry visa for owners of properties and residential units in the UAE, allowing them to stay in the country for up to six months. Furthermore, the new law also allows the applicant's spouse and children to stay in the country. The Specialists expects that such measures will provide the impetus to drive consumer confidence and help in gradually stabilising property prices in the UAE.

The Specialists delivers a comprehensive range of services to cover all types of property transactions within both the commercial and residential markets, for lease and for sale. The company additionally offers comprehensive property management services to clients in the UAE, while it has also been expanding across other key markets in the Middle East including Lebanon.

The Specialists observes country’s transformation into an end-user market, resilience of industrial segment

UAE’s property sector gaining momentum amidst steady market correction

The Specialists observes country’s transformation into an end-user market, resilience of industrial segment

May 17, 2009

Ongoing corrective measures have transformed the UAE’s property trade into an end-user market, observes The Specialists, a complete real estate solutions provider with over 20 years of experience in the Gulf region.

The Specialists notes that more real estate developers and owners are shifting their sales strategies away from speculators and towards end-users, focusing on meeting the unique needs of prospective owners. A noteworthy rise in foreign investments in recent months is further sustaining the momentum being enjoyed by the industry, with improved lending conditions across domestic banks adding to the positive trend. Another welcome development is the resilience of the industrial property segment, with Dubai alone still significantly benefitting from its reported 50 per cent increase in industrial rents in 2008.

“Just recently the UAE Minister of Economy stated that the country has managed to overcome the crucial stages of the financial crisis, and that significant economic gains could be expected in the second half of this year. This has greatly stimulated market-correcting activities which are raising the appeal of properties and moving emphasis towards end-users” said Dr. Sobhi Suleiman Agha, General Manager, The Specialists.

Meanwhile, banks across the Emirates are gradually increasing lending and mortgage activities, although they are exercising more caution in the form of rigorous background checks. Also, the UAE Central Bank and the Ministry of Finance have been implementing several measures to improve liquidity in the financial sector and restore market confidence. A senior official of the Central Bank has affirmed that they will concentrate on liquidity and asset quality towards 2010.

The banking authority will specifically monitor the effects of the property trade on the financial sector.

“Today’s evolving markets have actually opened several opportunities to foresighted property firms. The key is for developers and owners to keep close track of trends and corrections and create tailored packages for both their existing and prospective clients. The UAE remains one of the world’s top property destinations, so banks will definitely continue to extend mortgage facilities to investors, albeit with a little more caution. A little creativity and patience can still lead to highly-profitable returns for real estate businesses,” concluded Agha.

The Specialists itself constantly monitors local and regional trends to make sure that it develops and delivers high-quality and timely services. The Specialists delivers a comprehensive range of services to cover all types of property transactions within both the commercial and residential markets, for lease and for sale. The company currently conducts its operations in the UAE, Jordan, Lebanon and Syria.

The Specialists to capitalise on competitive real estate prices to create niche market for Dunes Village development

The Specialists to capitalise on competitive real estate prices to create niche market for Dunes Village development

Real estate solutions provider appointed by Alserkal to provide sales, leasing and property management services for AED 400 million residential project in Dubai Investments Park

April 21, 2009
The Specialists, a complete real estate solutions provider with over 20 years experience in the Gulf region, has announced that it has recently been appointed by Alserkal Properties and Manazel to provide sales, leasing and property management services for buildings within the AED 400 million Dunes Village development located in Dubai Investments Park (DIP). The Dunes Village project has been jointly constructed by Alserkal Properties and Manazel.

Dr. Sobhi Suleiman Agha, General Manager, The Specialists, said: “Our appointment is the perfect opportunity to launch our latest marketing strategy leveraging the prevailing competitive prices of selling and renting both commercial and residential real estate. Taking advantage of improving commercial and housing rates, we have devised flexible propositions to suit all our client requirements, offering them both affordable and profitable real estate solutions. For example, existing businesses in Dubai Investments Park can buy or rent from individual apartments to whole buildings on-site to accommodate their middle management housing needs at best-value prices. For small or emerging companies wishing to set up a business in Dubai, we can offer a selection of serviced offices in nearby Jebel Ali Free Zone with affordable long term and short term rental packages in furnished apartments in Dunes Village.”

Scheduled for handover between April and June 2009, the Dunes Village development is a modern, gated apartment complex comprising 19 uniquely designed residential buildings complete with a full range of value-added facilities such as a swimming pool, gym, Jacuzzi, landscaped gardens, mosque, shops, cafes and restaurants, clinic and pharmacy. Dunes Village will house 1,000 spacious studio, 1 and 2-bedroom apartments with balconies, which are all competitively priced and offer more affordable service charges compared to other developments in and around the area.

Mohamed El Sabbagh, Managing Director, The Specialists, said: "Our aim is to consistently provide our clients with the best-value property packages, whether they are renting, buying or looking for secure property management. Being a total real estate solutions provider, The Specialists is also fully committed to protect the interest of all owners and tenants by delivering maintenance and management services that focus on enhancing the long-term sustainability of the Dunes Village development. We are grateful to Alserkal Properties for trusting in our expertise and capabilities as we look forward to a productive partnership with them in this project."

The Dunes Village development benefits from its close proximity to key destinations in Dubai, including major road networks such as Emirates Road, Al Khail Road and Sheikh Zayed Road. It also sits right next to the popular Green Community & Green Community West developments and nearby Jebel Ali. Dunes Village is also ideally located within easy access of the UAE’s capital city Abu Dhabi, which is less than 45 minutes away.

The Specialists delivers a comprehensive range of services to cover all types of property transactions within both the commercial and residential markets, for lease and for sale. The company currently conducts its operations in the UAE, Jordan, Lebanon and Syria.

Alserkal Properties, part of Alserkal Group, has been in the property business since the 1950s. The company has since expanded and made significant contributions to the growth of the real estate sector in the UAE. Alserkal Properties continues to be actively involved in property development and real estate services.