Wednesday, May 27, 2009

The Specialists leverages global network of customers to help restore investor confidence in Dubai property market

The Specialists leverages global network of customers to help restore investor confidence in Dubai property market

Influx of new foreign capital crucial to sustain growth of real estate sector

May 27, 2009
The Real Estate Specialists, a complete real estate solutions provider with over 20 years experience in the Gulf region, has recently announced that it is leveraging its extensive global network of partners and customers to support an ongoing campaign to boost consumer confidence in the UAE's real estate market. Furthermore, The Specialists revealed that it has taken steps to help make it easier for investors, particularly foreign nationals, to buy properties as part of initiatives aimed at boosting liquidity in the property sector and sustaining market growth.

The Specialists disclosed that government intervention will also play a major role in creating new avenues for fresh investments to enter the property sector by implementing investor-friendly policies and streamlining investment processes. The banks' renewed interest to offer financing facilities has been another important deciding factor identified by The Specialists that will help attract new capital into the country's real estate industry.

Mohamed El Sabbagh, Managing Director, The Real Estate Specialists said: "Efforts to boost consumer confidence are crucially important to reach our ultimate goal of reinvigorating the property market. The Specialists has contributed to such a campaign by leveraging our global network of partners and customers to create awareness about the positive developments that are happening in the property market of Dubai and the UAE. Investors need to be properly informed to make rational investment decisions and to encourage them to resume their investment activities."

"The decision to provide short-term, multiple-entry visas to foreign owners of properties was certainly a very commendable move by the UAE Federal Government that will surely create a positive impression on foreign investors. Measures such as this are clear indications that the UAE is moving in the right direction towards ultimately recapturing the confidence of international investors," added Sabbagh.

The UAE Federal Government recently introduced a multiple-entry visa for owners of properties and residential units in the UAE, allowing them to stay in the country for up to six months. Furthermore, the new law also allows the applicant's spouse and children to stay in the country. The Specialists expects that such measures will provide the impetus to drive consumer confidence and help in gradually stabilising property prices in the UAE.

The Specialists delivers a comprehensive range of services to cover all types of property transactions within both the commercial and residential markets, for lease and for sale. The company additionally offers comprehensive property management services to clients in the UAE, while it has also been expanding across other key markets in the Middle East including Lebanon.

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