Dubai's Double A Homes Real Estate Company is a newly established company that has learned the ins and outs of the real estate market and its regulations and laws, until it was able in record time to form an important number in its field of work.
Dubai's Double A Homes Real Estate Company.
The company, founded by the Saudi youth Abdullah bin Mohammed Al Aziri in 2014 to be a compass that provides its services and expertise to Saudi investors to manage their properties in a professional manner to maintain them, and the company was able in a short time to represent the economic advisor to the capital coming to Dubai, which earned the trust of investors from more than 120 countries operating in the UAE market. Amlak Real Estate Newspaper recorded a special visit to the company and met with its CEO Abdullah Al Aziri in an interview that put a lot of points on the letters.
First, tell us about your life Like any ambitious young man, I worked in several companies in Canada for 9 years and then studied real estate, then I moved to Saudi Arabia, and there I worked in a real estate development company, one of the largest companies in the Kingdom, then I moved to Dubai to explore the market there in 2013, and I found a tight system that protects the broker and real estate, where the Dubai Land Department works to save all rights for the participants in the process of buying and selling real estate and its systems give everyone his right, and this was a great motivation and challenge for us. How did the company start?
We started establishing the company in 2014 after a year of studying the real estate market in Dubai and knowing its laws, especially after I guaranteed that my rights as a broker, so we started selling, buying and leasing, and one of the incentives that caught our attention and encourage investment is a corporate bank account that helps in choosing the best real estate investment within the Dubai Land Department, and this enhances confidence in the demand for sale and the company, and from this point the idea of establishing the company that was in the center of Business Bay near the Dubai Mall began. <span style="p1
What about the new advantages that encouraged you to invest?
The Dubai market is a renewable market and its regulations keep pace with the changes in the region. In mid-2016, the Dubai government allowed investing in "vacation homes" by renting them on daily, monthly or annual contracts as furnished apartments or hotel rooms, which is a great return in the range of 12 to 16% of the property value, which is a large and rewarding return.
What impact do "vacation homes" have on the value of rental returns?
Rewarding vacation home returns have created great competition in the real estate market, which ranged from 7.5 to 8% of the property value, and this new legislation from the government raised the level of employment and increased the total value of the owner's income, especially since all segments of residential properties have their own customers and patrons. This new legislation from the government raised the level of employment and increased the total value of the owner's income, especially since all segments of residential properties have their own customers and patrons.
Why did you choose Dubai for your investments, and what advantages did it have over others?
First of all, we all know that Dubai brings together all nationalities of the world and is an open market, so the government was keen to enact laws in real estate that protect all parties from sellers, buyers and brokers, and it is a fertile environment suitable for all types of investments, as there is absolute transparency, and figures announced by the official departments in their websites and companies, every seller or buyer finds the information that helps him in his request without exposure to potential losses.
What is your strategy for the next five years, and are there new facilities and incentives?
In addition to our outstanding service to the citizens of the Kingdom of Saudi Arabia, we are very proud to serve more than 120 nationalities from all over the world who are united by their investment interests in Dubai, where the law allows them to own, sell and buy, The spread of our services to all targets is helped by the fact that the new labor legislation approved the possibility of completing sales operations in 13 hours a day, i.e. from 8 am to 12 pm, and in the Dubai market, the sale, purchase and rental operations flow smoothly and easily, especially since the procedures for transferring ownership of the residential unit after purchase do not take more than 10 minutes. How do you see Saudis buying, and are there any specific obstacles to their investments?
Thank God, the Saudi presence in Dubai is given special attention by everyone, the investor can have his startup supplies in just four days, including labor visas and staff that manage the work for him, and be ready to start work in less than five days only, all these incentives encouraged the Saudi investor to be in Dubai. All these incentives encouraged the Saudi investor to be in Dubai.
Some investors complain about the annual fees on residential units?
This is not a fee that enters the state budget, but a service insurance for the building for a sustainable service to maintain the property with its maintenance and safety, according to the Dubai Property Management Law, so we find Dubai buildings despite the passage of time, but they enjoy a new condition and have all security and safety systems. Dubai's buildings despite the passage of time enjoy a new condition and have all the security and safety systems.
So what are the fees taken by the state?
The Dubai government takes 4% of the value of residential and commercial real estate, which is divided equally between the buyer and seller (2%). Dubai government takes 4% of the value of residential and commercial real estate.
How do you see the future of the real estate market in Dubai?
The market in Dubai will witness a high wave of demand and pressure on the residential sector, especially that Expo 2020 will receive very large delegations of visitors, investors, and employees of international companies, in addition to the great competition that these exhibitions will create between the local and international supply, so we expect in the coming years an unprecedented recovery of the real estate market in the region. The market in Dubai will witness a high wave of demand and pressure on the residential sector, especially that Expo 2020 will receive very large delegations of visitors, investors, and employees of international companies.
Is there an impact on the growth of the real estate market due to political events in the region?
The advantage of Dubai is that it is an incubator for capital from all over the world, so it is very keen to deal diplomatically with political changes to maintain its leading position and its centrality in attracting investments, and in return all countries treat Dubai with respect out of fear for the interests of their nationals and their investments. All countries treat Dubai with respect out of fear for the interests of their nationals and their investments. Are there any statistics or approximate reports on the real estate market in Dubai?
Yes, the Dubai real estate market is completely transparent, and there is a development and urban revolution in all parts of Dubai, where statistics indicate that: Yes, the Dubai real estate market is characterized by absolute transparency, and there is a development and urban revolution in all parts of Dubai.
Private residential units: Existing in 2017 about 4.7 million units and expected to enter the market 30 thousand private residential units. In 2018, 508 thousand units are expected to be completed and 16 thousand units entering the market.
Office Sector: 2017 inventory of 8.9 million offices, of which 140,000 are expected to enter the market. Office Sector:
8.9 million offices will exist in 2018, of which 80,000 are expected to enter the market. 8.9 million offices will exist in 2018, of which 80,000 are expected to enter the market.
Exhibitions and shops:
In 2017, there are 3.4 million shops and about 326 shops will enter the market. In 2017, there are 3.4 million shops and about 326 shops will enter the market.
In 2018, there are 3.7 million shops of which 18,000 will enter the market. In 2018, there are 3.7 million shops of which 18,000 will enter the market.
Are the commercial offices entering the market meeting the demand and investment ambition sweeping Dubai?
The supply of commercial offices and exhibitions is diverse and multi-purpose for all small, medium and large companies, and the demand varies according to the tenant's desire starting from small offices to large and international companies that rent more than one floor such as Microsoft, and this great demand shows Dubai's vision for the future. The supply of commercial offices and exhibitions is diverse and multi-purpose for all small, medium and large companies.
What advice would you give to Saudi investors and buyers?
We here at Double A Real Estate advise Saudi owners to buy in the most demanding and attractive areas for tourists such as GPR, Downtown, Marina, Jumeirah, coastal areas in Dubai and other areas demanded by tourists and investors, This is because they are more in demand than those that are among Dubai residents and workers, which, as mentioned above, the income ranges from 12 to 30% of the value of the property, as in "vacation homes", and we recommend weekly, monthly and annual rentals, taking into account the peak and recession months. Do condominiums undergo an estimated feasibility study before accepting management?
Double A has a team specialized in making approximate studies for all units that come to us, including yield studies, furnishing and equipping the unit according to the quality and specifications of the company, and through our special attention to the owner's units, we maintain our customers.
What about the operating offers that you see as substandard?
Because of our presence in the market and our knowledge of the desires of customers and visitors, we advise investors to buy in the entertainment and marketing areas and not in the inner city residential areas for citizens, residents and workers in Dubai. Final WordFor Amlak I would like to thank Amlak Real Estate Newspaper, which I had the honor of following from the first issue until the last issue, as it continues over the years to develop for the sake of specialized real estate media, and I thank Mr. Abdulaziz Al-Issa, the editor-in-chief, for his keenness and interest in the newspaper, which has become an important number needed by the real estate market. I would like to extend my sincere gratitude to Mr. Abdulaziz Al-Issa.
Words by Abdullah Al-Aziri The company's operating ratio is 80% Saudi nationals.
Saudis prefer furnished apartments because they provide a family environment. Saudis prefer furnished apartments because they provide a family environment.
Dubai is a favorite destination for Gulf nationals because it offers shopping and amazing tourist attractions. Dubai is a favorite destination for Gulf nationals because it offers shopping and amazing tourist attractions.
We manage real estate for Saudis and represent them legally and financially before government agencies.
Owners can track the information of their rental units through specialized websites.
Our company's reports are published on the DLD website and in a special brochure. Our company's reports are published on the DLD website and in a special brochure.
Our services to our clients start from the airport, and we are honored to be their advisor due to our presence and knowledge of the Dubai market.
