Who else could be the best person to learn about the real estate business in Dubai from, than the titan of real estate business, Hussain Sajwani? Sajwani entered the real estate business of Dubai in 2002 through his firm DAMAC Premises. Before DAMAC Premises, he was among the individuals who built hotels to accommodate the business people in Emirates.
DAMAC Enterprises is not the first business that Hussain Sajwani ever did. After his Industrial and Engineering degree, he secured a job at GASCO Properties, where he paid the contractors. It is during this time that he realized he could be better if he let others work for him. He saved some money and two years later quit the job and joined the catering business in 1982. The catering business is still a property of Sajwani. It is doing great with 200 projects and supply of more than 150000 meals daily.
Recently, Hussain Sajwani talked about the ranking of Dubai in the real estate business. He said that he was impressed but not surprised by the news. According to him, Dubai has always been in the front line in real estate business. With all the favorable policies and technology advancement, they have everything they need to lead the industry. Here are some factors that have contributed to the success of the real estate business in Dubai;
Leaders lead the way
The UAE government has introduced new policies such as 100% ownership of property by foreigners in the free zones. They are also introducing long-term visas for business people. This may be a great advantage for individuals who have been eyeing niches in Dubai. As a result, most people may be interested in owning homes during this periods.
Technology Development in Dubai
Dubai has always been top-listed when it comes to the topic of technology advancement. Soon, technology will impact the real estate department and take it to a whole new level. There is the introduction of Real Estate Self Transaction that will allow real estate investors to transact from all over the world. The government is also working to induce blockchains in different aspects of the economy.