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Tell us about your company.
We have been in the market for 10 years with a healthy portfolio of properties in the UAE. We consider the real estate sector to be a highly service-oriented industry. Our efforts are directed towards our stakeholders — both internal and external — and we try to understand, anticipate and satisfy their needs in a timely and cost-effective manner.
Tell us about your role in the company.
As managing director of the company I have to captain my team at all times. I make sure that all business goals and objectives are reached. We have the pulse of the market and our decisions are made keeping in mind the changes that affect the market.
What’s the best property deal you have made in the past year?
We took on the challenge to pick a dynamic four-star commercial project, Park Lane Tower, and within two years we found an operator, the Staywell Hospitality Group, Park Regis. We consider this as one of our biggest achievements last year. The launch of the hotel supported our business in many ways.
How many new agents has your firm hired in the past year?
We recently added 10 experienced property consultants in the firm.
What is your outlook for the UAE property sector for 2016?
The market is certainly maturing and getting healthier. Dubai’s property price index is at a stage where the return on investment is very good, making this the right time to invest. We are expecting more regulations to be implemented for longer-term sustainability, which will strengthen the market.
What kind of properties are selling most in the market?
We’ll we see a lot of growth opportunities in the low and mid-housing segment, with good payment plans. Mid-range town houses are also in demand.
What are the common mistakes you see buyers make when purchasing in the current market?
I think taking a long time to make a decision and simply lingering on and not closing a deal is like an opportunity lost. Stay focused, be intuitive, meet relevant people, do your homework and take a quick decision.
Are genuine sellers able to attract serious buyers in this market?
Always deal with experienced realtors who have survived different market conditions. Trust and reliability are key factors in this market. As a genuine seller you might meet many people but it’s difficult to bank on everyone. Experienced realtors can help get serious sellers and buyers on the same platform.
What would you advise people who want to buy?
Keep in mind the location. Location of the property is important.
Your advice to agents who are struggling to close deals in the current market?
Information is the key to everything. Having the right information and the ability to pass it on in the right manner can shape decisions at any point. Having a positive attitude also helps.
What type of training is mandatory for new agents?
Apart from the Rera certification, which definitely makes agents technically and professionally sound, I would suggest that agents take an interest in marketing programmes as well. One should also have a good capability to analyse a situation over and above your market knowledge.
Al Burooj Real Estate
Established in 2006, Al Burooj Real Estate has grown sustainably, conscientiously and has emerged over the years as one of the top-performing real estate companies in Dubai.
“We have developed a reputation for investment property that delivers on return, location and quality service,” the company says in a statement. “We are committed to high ethical standards and our team of real estate professionals come from diverse backgrounds. They have a rich experience, are well-informed, multilingual and definitely bound by honesty.”
The company offers comprehensive professional property services to investors and individuals across Dubai, particularly in freehold areas, to suit all types of lifestyles. Al Burooj is also affiliated with some of the largest real estate organisations, such as Emaar, Deyaar, Meraas and Green Emirates, and has also been closely working with developer Nakheel.
The company maintains a team of highly trained agents who excel in customer service. “We continuously keep training every member of our team to reassure the growth of the employee and the company. Our business development managers and sales heads are mentors for their teams. This gives us an edge and helps us gain confidence as a leading real estate brokerage.”
Khurram Ahmed is the Managing Director of Al Burooj Real Estate. He has lived in Dubai for more than 20 years. He joined the real estate sector in 2004 as a sales consultant and within a short span of time opened his own firm. Ahmed believes in teamwork and leading by example.
Source: Jobannie Tabada, Features Editor, Property Weekly