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Property business
Do you think Dubai's transparency drive will spread to other Gulf markets and what will its impact be?
Transparency is essential for our long-term economic growth and positioning. The Gulf is a region and as such many policies will transfer across from one country to another: a positive change.
Is total transparency possible in the Gulf property market?
If total transparency means that the registration of title and ability to carry out due diligence on the developer and his project, there is no reason why not. The Real Estate Regulatory Authority in Dubai is already assisting greatly. We are speaking to the relevant bodies wherever we have offices - the UAE, Bahrain, Jordan and Qatar - to encourage the implementation of regulations. Abu Dhabi and the Northern Emirates are already very close, if they have not already published. We are increasingly aware that the banks have adopted international standards. There's no reason why the property and commercial market should not be the same.
What, in your opinion, are the best opportunities available to developers in Qatar? Why?
The Pearl is an iconic development and depending on the investment criteria and strategy of a developer, must be considered.
What development trends do you see emerging in Qatar? Are they original or adapted from elsewhere?
Over 250,000 new people have moved to Qatar in the past 18 months all types of properties for all facets of life are needed so opportunities abound. The Pearl is an iconic development. Ordinary well built property is needed to support it. The debate will be which type of property gives the best return.
What development trends do you see emerging in Qatar? Are they original or adapted from elsewhere?
Inevitably world events will have an impact. However, there is always a positive in everything that happens, the challenge is to identify it and act.
What responsibilities do you feel you have to the end users of a property, whether commercial or residential?
Strata and property management is central to our business. Customer service, safety, well-maintained and cleaned properties and ensuring that those who live, work, or play in the properties that we manage enjoy the highest standards.
We are an established company which takes pride in the fact that so many of our clients stay with us for decades, leave and return, or grow with us.
Will the regional development market continue to fly, crash, or come in for a soft landing?
Different properties in different areas will be affected. Possibly there will be a correction in certain areas.
Older properties that are enjoying very high rents at this time will probably see a reduction in income, as the new properties come on line with better facilities.
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