Hussain Sajwani began and owns DAMAC, a United Arab Emirates based real estate company with international interests primarily in the Middle East and the United Kingdom. Sajwani writes an op-ed about the expanding real estate market in Dubai, supported by a government he feels is properly supportive of responsible but profitable business and investment within its borders.
Among the many virtues of the Dubai real estate market that Hussein Sajwani sees os the transparency to be found in the industry. Noted as the most transparent market in the Middle East, 2018 saw Dubai rise several spots on the international ranking for transparency. This helps the market in Dubai by presenting investors with a clearer picture of what they are in for and what kind of return they can reasonably expect to see on their investment in Dubai real estate.
The government of the United Arab Emirates is also, in Sajwani’s eyes, properly supportive of foreign investment. By providing such benefits as long-term VISA’s, allowing for foreign ownership in properties as higha s 100%, and maintaining a firm but stable penalty system for late registration of ownership, the DAMAC owner sees a government making the right decisions about how to attract and nurture foreign investment.
Hussein Sajwani also sees a government that is trying to lead the way in real estate technology and procedure. By introducing the REST (Real Estate Self Transaction) platform, which allows for complete record keeping through an online transaction model that eschews using paper, they have made a huge step forward in business innovation, streamlining and simplifying the international real estate transaction with REST.
Noting that the city of Dubai alone has added 14,000 plus new residences and properties in the forst eight months of 2018, Hussein Sajwani sees a maturing real estate market that continues to open itself to international investment and ownership with each passing year, something Sajwani sees as a positive for the nation and businesses of the United Arab Emirates. As the owner of DAMAC, Sajwani and his partners stand to prosper as a result of these several steps forward by the U.A.E.