CONCRETE MARKET INSIGHT

UAE, Dubai 2013 | REAL ESTATE & CONSTRUCTION | INTERVIEW

TBY talks to Saeed Mohammed Al Qatami, CEO of Deyaar Development, on remaining competitive, the company's property portfolio, and likely developments in the real estate market.

Saeed Mohammed Al Qatami
BIOGRAPHY
Prior to joining Deyaar Development in 2007, Saeed Mohammed Al Qatami held several managerial positions at renowned financial institutions such as Dubai Islamic Bank, Standard Chartered Bank, and RAK Bank in the UAE. Al Qatami has over 20 years of experience as a real estate and financial services professional. He is particularly regarded for his pioneering approach to real estate management through his exceptional leadership skills and profound knowledge of the global real estate sector. He holds a Bachelor’s degree in Science and Mathematics from the University of South Carolina, Columbia, US. He also has a diploma in Finance from the University of Dubai.

How does Deyaar Development stay competitive in the property market?

Dubai was one of the top five best performing real estate markets in the world, and ranked fourth on a list of the top 29 cities worldwide, according to a report recently published by Forbes Middle East. The rankings clearly indicate that the Emirate's real estate market is back on track. Our recent results speak for themselves; our revenues have grown, while our net profit for 1Q2013 has more than doubled when compared to the same period of the year before. In an industry that faces intense competition, innovation and customer care set any business apart from the peer group. These mandates are, and will always remain, Deyaar's primary focus and goal. Additionally, we remain competitive through concentrating on our core strengths, working tirelessly to foresee trends, and ensuring that all our stakeholders continue to see profit maximization, cutting-edge services, and real solutions that truly enhance the value of their investments. Undoubtedly, the growth registered by Deyaar is also the outcome of our continued commitment to excellence across our operations.

Established in 2002, the company has become one of the leading real estate development companies in the GCC. What is the spirit underpinning this success story?

Today, Deyaar stands at the forefront of the regional real estate sector, with interests in real estate development, property management, facilities management, and owners' association management. Deyaar's strategic solutions and deep market insights have helped create exceptional value for our investors. Our philosophy that has helped chart this phenomenal growth is fairly straightforward; at Deyaar, we place particular emphasis on understanding both our business and the external factors that hold the potential to impact it. Using this intelligence, we seek to build attractive developments in popular areas, while ensuring that we deliver unmatched management facilities that exceed the expectations of our residents. Focusing our attention on the important details is looked upon as a core imperative.

What is the most common characteristic that we can see in your product portfolio?

In Dubai, one of the region's most dynamic cities and a preferred business and leisure destination for people from around the world, we have created commercial and residential developments in key locations to meet varied customer preferences. Within our portfolio of Dubai-based projects, you can see that we are concentrated within free zones. These developments cater perfectly to people who look for close proximity to their offices and want to avoid commuting. Our research has shown us time and again that community living is growing in popularity, be it an entire development, or a single building, and this is something that we have focused on. To make sure we deliver only the very best to our customers across each project, we have developed a rigorous set of tests, from initial design plans to the finishing touches, to ensure that each project meets the highest quality standards. At Deyaar, we take pride in setting new industry benchmarks and exceeding our customers' expectations along the way.

What makes your properties attractive to both local and international buyers, and how does the company manage different types of demand?

Our footprint extends across varied geographies, which adds to our credibility among local and international buyers. Our residential and commercial developments set new industry standards, and offer our customers unparalleled quality, exceptional value, and a chance to enhance their lifestyle. Moreover, our emphasis on understanding market dynamics, coupled with our ability to integrate the latest innovative technology and design in communities developed in prime settings, create an attractive offering that distinguishes us as a company.

What trends can you foresee for the market?

The market recovery, marked by an increase in rents and property prices, has helped investors regain their confidence. Deyaar witnessed a strong response at our recent sales weekend, which registered over AED170 million worth of sales for over 200 units. The government plays a major role in influencing real estate market growth in the region. A number of government-backed developments in Dubai are further expected to boost the positive profitability of the property market.