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Esteemed property developer reveals unfiltered truths about Dubai, the competition, and the current state of the Dubai real estate market in new brokerage initiative.
Dubai real estate leading brokerage agency Driven Properties recently started their latest initiative, The Real Talk. A panel discussion hosted by Abdullah Alajaji, Managing Director of Driven Properties which provides unfiltered talks and focuses on the unasked questions when it comes to investing in Dubai real estate.
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Abdullah stated “There is still a lot of fear and uncertainty when it comes to real estate, especially for first-time buyers. With The Real Talk, we provide an honest dialogue between experts, specialists, and those that are looking to investing in Dubai.”
These monthly panel discussions feature the biggest names of the real estate industry where they hold open talks with investors, brokers, and other agencies.
Robert Booth and his stance on Dubai and UAE Developers
In the first session, Robert Booth, the CEO of Ellington Properties, talked about his success in producing some of the best quality developments in Dubai, how the Dubai property market is comparable to other global hubs, and why Dubai continues to be one of the most investment-friendly cities in the world. Robert Booth even stated “What I learned is don’t bet against the vision of Dubai, it’s only going to get bigger and better”
Robert Booth critically analyzed other developers and how they are creating more supply despite less demand in the market. An issue that developers and investors are facing for the past few years. Furthermore, Robert also talked about the general economy of Dubai and provided an accurate analysis of the current state of the market.
Robert Booth stated “Historically if you looked at property prices in Dubai, there have been a direct correlation to the GDP growth. And so when, Dubai and the UAE has strong GDP growth, we generally have a strong real estate market.”
Abdullah also asked hard-hitting questions like the credibility of private developers and why some private developers were producing projects that were substandard, especially compared to Ellington.