“The market in Dubai is at a very lucrative standpoint currently. It is going through a healthy correction phase, which we believe is an important phase to create a mature market. The fundamentals of the market are getting stronger. As long term players in the market, we believe this market holds a lot of potential.” These comments on the property market in the UAE are made by Mr. Hesham Elfar, CEO of Coldwell Banker UAE.
The company has strong expansion plans for the region. “We plan on doubling our sales force and opening more retail offices here with the aim to cater to the positive growth of the property market in the UAE. Our strategy to increase our accessibility and reach for our clients by opening more branches and increasing our workforce in 2016. Coldwell Banker currently ranks number 1 in the US and we plan to achieve the same standing in the UAE as well,” Mr. Ayman Youssef, Vice President of Coldwell Banker UAE, said.
“We see great opportunity in the secondary market along with an increase in the number of homebuyers. The market is slowly shifting towards end users with many tenants turning into first time home owners because of the low interest rates and correction in prices. Investors can also expect higher yield for their investments since the sale prices have dropped more than rental prices, positively impacting the yield,” he added.
The Coldwell Banker family has its foundation based in San Francisco where it celebrated 100 years in the real estate industry in 2006.