Ismail Al Hammadi, managing director of Al Ruwad Real Estate, explains how the company has weathered economic headwinds, why he is confident in the future of Dubai’s real estate sector, and where key opportunities are in the market
How have the past 12 months been for Al Ruwad Real Estate? What have been the main successes and challenges, and how has the company maintained its position amid economic headwinds?
“Al Ruwad has operated in the market for the past six years, and we have identified lessons learned from past failures on how to advance during financially unstable times. So we were prepared to withstand challenges such as a fall in prices, unforeseen costs, and so on.
“We were able to make a realistic assessment of the business environment and pinpoint the company’s position in this environment, deciding on a strategy. I believe we managed to stay afloat and navigate these challenges successfully.
“Amid oversupply fears, decrease in prices and high competition, Al Ruwad has managed to position itself in the front line of land sellers in Dubai, capitalizing on a lesser exploited niche of real estate industry, while the main focus remained on the off-plan sales and secondary market.”
How confident are you in the region’s real estate sector at present? What are the most encouraging signs for the sector?
“Approaching the third quarter of 2019, I can confirm that this year will also be a buyers’ year with prices on the decline, incentives such as no commission, no DLD fee, lengthy payment plans and discounts offered by all developers. This will lead to great opportunities for both investors and end users alike.
“I believe that one of the most encouraging signs for the real estate sector is the current interest from international investors, especially Chinese nationals who are expected to increase their investment up to 70 percent this year.
This story is from the July 2019 edition of Gulf Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 2019 edition of Gulf Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Green lights
It hasn’t even been a full year that Stellantis, one of the world’s biggest auto companies, has been in existence. Still, its wheels are spinning furiously. Here’s what it has in store for the region
Purpose through corporate responsibility
Every organisation must deeply reflect about whether they are leaving behind a legacy or a liability, says Abdulaziz AlSowailim, EY MENA chairman and CEO
Analysing the layers of a coconut
When we have a sense of clarity as to our purpose in life, then we institute the correct practices and habits around us, and set realistic and achievable results
DUNES TO DOMINION
FOR A COUNTRY RICH IN TRADITION AND DRIVEN BY AMBITION, THE UAE’S JOURNEY DURING THE PAST 50 YEARS HAS BEEN UNPRECEDENTED. WHAT’S IN STORE FOR THE NEXT 50?
Building strong
International investors are boosting Dubai’s residential property market, which has rebounded strongly from the Covid crisis, writes Aarti Nagraj
CHASING THE AMERCIAN DREAM
FOR SHAI ZAMANIAN, THE US IS A LAND OF LIMITLESS POSSIBILITIES, AN AVENUE HE AIMS TO OPEN FOR FAMILIES WORLDWIDE VIA IMMIGRATION. HERE’S HOW HE IS BRINGING HIS GOAL TO FRUITION
OBITUARY: JOCELYN HENDERSON (1921-2021)
THE GRANDE DAME OF ABU DHABI – THE WIFE OF A FORMER DIPLOMAT – PASSED AWAY IN THE UAE CAPITAL AGED 100
THE DIGITAL DISRUPTORS
IN THE COMING YEARS, THE GCC IS EXPECTED TO PLAY A SIGNIFICANT ROLE IN SECTORS SUCH AS HEALTHCARE, MANUFACTURING, EDUCATION AND RETAIL, WHICH WILL HELP BOOST THE GROWTH OF ITS NON-OIL ECONOMY
Signed, sealed, delivered
Nicolas Baretzki, CEO of Montblanc, partnered with one of the world’s most recognisable luxury brands, Ferrari, earlier this year. Here’s where the partnership, and the German company as well, is headed next
UP, UP AND AWAY
AS THE FIRST IN-PERSON AIRSHOW TO TAKE PLACE SINCE THE OUTBREAK OF THE PANDEMIC, THE EVENT SAW SEVERAL DEALS ANNOUNCED
