Dubai Statistics Centre recently revealed that the emirate continues to add around 10,000 residents per month, with the population passing 1.8 million in the first quarter of 2010 means that though the pace of expansion may have slowed after the financial crisis, companies involved in selling and leasing property, in particular, still have more than enough business to keep them occupied, and this does not appear set to change anytime soon, reported the Founder and CEO of Better Homes, Linda Mahoney recently, during her lecture at Capital Club Dubai, the region’s premier private business club and a member of the ENSHAA group of companies.
Although the development of new properties has slowed, for as long as people continue to flock to Dubai, the UAE and the region, they will need places to live, shop, do business and be entertained, and the real estate and construction areas will continue to provide such places, she added.
The lecture, which took place at The Signature in Capital Clubs premises at the Dubai International Financial Centre (DIFC), was moderated by Guy Guillemard, CEO of Signature Clubs International. Ms Mahoney discussed how she left 25 years in the nursing fields of Africa to venture into the world of Middle East real estate, and built one of the UAEs largest realtors, offering the largest selection of residential and commercial property for sale and lease in the region.
Ms Mahoney reflected on how the real estate sector in the UAE and the region has changed over the past two decades, particularly in Dubai, which was far from the thriving metropolis it is currently when she first set up her business. In 1986 the population of Dubai was a little over 370,000, with built up areas to match. By 2006 this number had grown to just under 1.5 million. The real estate sector has had to keep pace with this rapid growth and comparing recent photos to those taken in the late 1980s/ early 1990s shows just how much the emirates landscape has changed over the last 20 years.
Says Capital Club CEO Russell Matcham, Better Homes has become an iconic name in Dubai, and Linda Mahoney one of the early regional entrepreneurs has built the business up from a one-woman operation to one of the regions most respected names in real estate with a workforce of over 500. Ms Mahoney is an excellent example of what people can achieve with an entrepreneurial spirit, hard work and dedication, and those present at the interview were privileged to hear about her experiences firsthand, and learn how she maintained her acute, holistic approach to the world of business, while retaining her sense of humour.
Ms Mahoney established Better Homes in 1986, and over the last 24 years it has grown to become one of the most reputable and professional realtors in Dubai and the UAE, with a database of thousands of properties, market trends and community information.
Says she: There is nowhere else on earth I could have achieved this. I was driven by my ambition, with no experience and no licence. If you have the passion to succeed, anything is possible.