UAE’s real estate development formula needs a makeover

“The market had found a formula 20 years ago… but forgot to advance with the times,” said Walid Al Hindi, CEO of Abu Dhabi based Imkan, which came into being as the real estate arm of Abu Dhabi Capital Group. “That means it’s time for reworking it. There are so many new ways to introduce real estate in the country. Unfortunately, most people have been reaching investors. But is anything being done to appeal to a buyer from the inside?

The Imkan CEO makes it clear that he is not into just the talking. The developer has created an in-house research team to go into the minutest details of what prompts buyers, especially among the younger ones, to get into property. And the extent of this understanding is not restricted to matters of real estate. Even the minutiae of a buyer’s personal habits could help with the project being planned and created.

“We have to research fashion, the psychology and things like the kind of social platforms one visits,” said Al Hindi. “We don’t do anything without having that research delivered on the table… and we use designers who use the same research methods that we do.”

Source Credit: Khaleej Times
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