Emirati Involvement In Dubai’s Real Estate Landscape
In the real estate industry of Dubai, an interesting trend has emerged, with a significant percentage of investors being foreigners rather than locals. This observation raises questions about the reasons behind the lack of Emirati citizens participating in real estate investments. To address this issue, we turn to Dr. Abdel Rahman, a renowned real estate consultant and owner of Sajio Real Estate. In this blog, we explore Dr. Abdel Rahman’s expert opinion on the factors contributing to the dominance of foreign investors and his initiatives to encourage Emirati involvement in the real estate market.
Understanding the Dominance of Foreign Investors
When asked about the reasons for the increasing number of foreigners investing in Dubai’s real estate industry, Dr. Abdel Rahman sheds light on several key factors.
Housing Provided by the State
One possible reason for the lower percentage of Emirati citizens purchasing real estate for personal use is the availability of housing provided by the state. The government of the UAE has made significant efforts to provide housing for its citizens, reducing the immediate need for Emiratis to purchase homes. As a result, the culture of acquiring personal real estate may not be as prevalent among local citizens. However, this situation presents an opportunity to shift the focus towards real estate investment as a means of diversifying income sources and generating long-term wealth.
Lack of Awareness about Real Estate Investment
Dr. Abdel Rahman emphasizes the importance of developing the idea of real estate investment among Emiratis. While owning a home for personal use may not be a common practice, understanding the potential benefits of real estate investment and diversifying income sources is crucial. Educating Emirati citizens about the opportunities and advantages of investing in real estate can help bridge the gap and encourage their participation in the market. By highlighting success stories and showcasing the long-term financial gains that can be achieved through real estate investment, Emiratis can be inspired to explore this avenue further.
Encouraging Emirati Involvement
Dr. Abdel Rahman is taking proactive steps to motivate and empower Emirati citizens to engage in the real estate market.
Motivating Emiratis to Learn about Real Estate
As an initiative, Dr. Abdel Rahman and his office have started encouraging the Emirati segment to learn about the real estate market. Recognizing the need to bridge the knowledge gap, they aim to provide special courses for all citizens interested in understanding the intricacies of the real estate industry or pursuing a career in it. These courses will cover various aspects, such as property evaluation, market analysis, investment strategies, and legal considerations. By equipping Emiratis with comprehensive knowledge, they can make informed decisions and confidently navigate the real estate market.
Offering Real Estate Consultancy Training
Dr. Abdel Rahman invites Emiratis to consider becoming real estate consultants. By becoming experts in the field, Emiratis can actively participate in the industry and contribute to its growth. This initiative aims to create a pool of qualified Emirati professionals who can provide valuable insights and guidance to both local and foreign investors. Real estate consulting offers a rewarding career path and enables Emiratis to leverage their knowledge and expertise to assist others in making successful investments. Dr. Abdel Rahman’s office extends a warm welcome to all individuals interested in learning and growing in the real estate sector, offering mentorship and support throughout their journey.
Empowering Emiratis through Networking
To foster Emirati involvement in the real estate market, Dr. Abdel Rahman’s initiatives also focus on facilitating networking opportunities. By connecting Emiratis with established professionals, industry experts, and like-minded investors, they can gain exposure to valuable insights, expand their professional network, and develop fruitful partnerships. Networking events, workshops, and seminars can serve as platforms for Emiratis to exchange ideas, share experiences, and build relationships within the real estate community.
Conclusion
Dr. Abdel Rahman highlights the reasons behind the dominance of foreign investors in Dubai’s real estate market and presents initiatives aimed at encouraging Emirati involvement. The availability of state-provided housing and a lack of awareness about real estate investment among Emiratis contribute to the lower percentage of locals engaging in the industry. However, through educational programs, mentoring, and networking opportunities, Dr. Abdel Rahman seeks to empower Emirati citizens and inspire their active participation in the real estate market. By expanding their knowledge and understanding, Emiratis can harness the benefits of real estate investment, diversify their income sources, and contribute to the success of this thriving industry. With concerted efforts, Emiratis can play a significant role in shaping the future of Dubai’s real estate landscape while securing their own financial growth and prosperity.
