By Binesh Babu Panicker
Undoubtedly, Dubai real estate sector is one of the most astonishing and lucrative markets in the world.
The happy faces in the market are reflective of the positivity that the sector has been experiencing since
the threat of Covid-19 started fading away. It’s true there are plenty of opportunities in the current
market situation, but does that mean it’s a cakewalk for property agents to sell properties? Property
Time catches up with two of the most experienced and dynamic real estate agency owners to find out
how it is to sell properties in Dubai right now; Kunal Puri, Founder & CEO, La Capitale Real Estate and
Umar Bin Farooq, CEO, One Broker Group (OBG). “Currently, it is a great time to be in Dubai’s real estate
market with plenty of property launches in different segments providing potential buyers with so many
options to choose from,” says Kunal, adding, “However, as a real estate consultant, it keeps you on your
toes to stay up-to-date with the various developments in the market so that you can give the best
options to your client.” Currently, Kunal’s team is working with a number of developers such as Emaar
Properties, Nakheel, Damac Properties etc. Umar says this is one of the best periods of growth ever for
Dubai real estate market, having spent close to two decades serving this sector in various capacities.
“What Dubai does to you is it makes you stronger and eliminates the terminology ‘giving up’ from your
mind. Dubai’s everlasting resilience rubs off on everybody and that’s why its popularity is constantly
growing all across the globe,” says Umar, adding that his team of property consultants is quite busy
these days with a number of projects being announced by developers.
Trust: key for growth in Dubai
For a property consultant to excel in Dubai’s real estate market, trust is a very important factor, says
Kunal. “Based on my experience, I can tell you confidently that if you don’t build trust with your
customers, you won’t able to perform well in this market as a property professional. So, be honest to
yourself as well as to your buyers and sellers and then witness the magic unfold,” he adds. Kunal has
many such experiences wherein customers who have been misled by some agents in the market have
come to La Capitale for professional and honest guidance. Umar concurs, saying since real estate
involves huge investment, trust is extremely important between an agent and the buyer. “Only if a
buyer finds you trustworthy, he or she will be willing to work with you,” he says adding, “Buyers these
days are well informed about the market dynamics, ongoing prices and property and location
specifications so an agent should always be one notch ahead in terms of product and market knowledge
and what the buyer’s requirements are.”
Both Kunal Puri and Umar Bin Farooq expect the positivity in the market to continue into the next year
as the demand is steadily growing and more projects getting launched. “For sure, the future is brighter
than ever before and there’s absolutely no doubt that whoever is investing in Dubai real estate market
will reap benefits in the coming years,” says Kunal while Umar says with the world going through a
turmoil due to a number of factors, Dubai continues to safeguard itself from the global events to keep
its economy healthy. “This is why there is a huge interest from buyers from all over the world to invest
in Dubai real estate market. In the past we discussed about oversupply, but now who is talking about it?
All the new launches are lapped up by buyers within hours of getting launched by the developers. So my
recommendation to all the prospective buyers is to jump on the Dubai real estate bandwagon today and
enjoy the benefits tomorrow,” he concludes.
What’s more exciting in the market right now is the increasing number of working people buying homes
to live in which augurs well for the future of Dubai property market.