UAE

UAE: An Investor’s Paradise – News – Khaleej Times

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Haleema Humaid Al Owais, Vice-Chairperson, Sharjah Consultive Council; Board Member, Sharjah Chamber of Commerce and Industry and InvestBank, and CEO of Sultan Bin Ali Al Owais Real Estate, said the demand for real estate projects is present in all Emirates according to their attributes and merit.

Haleema Humaid Al Owais, Vice-Chairperson, Sharjah Consultive Council; Board Member, Sharjah Chamber of Commerce and Industry and InvestBank, and CEO of Sultan Bin Ali Al Owais Real Estate, said the demand for real estate projects is present in all Emirates according to their attributes and merit.

Published: Fri 3 May 2024, 11:28 AM


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THE UAE is experiencing a positive upward trend due to governmental policies and the country’s swift post-coronial (Covid-19) recovery, making it a favourable investment destination for the world, says an industry veteran.

Haleema Humaid Al Owais, Vice-Chairperson, Sharjah Consultive Council; Board Member, Sharjah Chamber of Commerce and Industry and InvestBank, and CEO of Sultan Bin Ali Al Owais Real Estate, said the demand for real estate projects is present in all Emirates according to their attributes and merit.

“Dubai is the most popular destination and an amazing emirate for its fast-pace and convenience and Abu Dhabi is the capital for its business expanse and diplomatic proximity,” Al Owais told BTR.

She said Sharjah is a city with geo-positioning in the heart of the UAE, a family-oriented residential appeal, and an industrial expanse, and Ajman is a city with diversity and affordability.

“So, in essence, all major parts of the country promise the overarching stability it is known for and returns in line with it,” she said.

Excerpts from the interview:

First of all, can you share your views on the present state of real estate in the UAE market?

Well, in the UAE market and generally across the world, real estate remains the leading asset class in which to invest. It is considered the safest investment everywhere, and the UAE is no different. However, a bright investment acumen, awareness of individual risk appetite, and due diligence of the investment in question and its promoters are factors always to be considered to ensure that it remains safe.

If you feel that real estate is at its peak, do you think it is sustainable in the long run?

With everything, the peak doesn’t stay at the peak for long. There are highs and lows when the demand goes up and otherwise. And while the demand in the UAE is always there and will stay strong, it is critical to understand the factors that stimulate this demand. World events and the passage of time has people migrating from one place to another.

There’s always a turnover of people leaving and arriving in the country. However, what is essential is the fact that the UAE expat (as well as native) population has been on the rise year after year. From 1960 to 2022, the population of the UAE increased from 92,417 to 9.44 million people. This is a growth of 10,115.8 per cent over the years, and we are still growing. However, I still maintain that no industry remains at its peak at all times.

Previously, the real estate market meant Dubai shortly, followed by Abu Dhabi projects coming into play, but now Sharjah has come across as a very significant player in real estate, especially projects like Masaar, Arada, and Maryam Island. So, how do you specifically look at the outward position of the real estate?

Projects like Arada and Masaar, Azaher, Al Mamsha, and Alef Group, in general, were needed a long time ago. However, they came in at the right time and these remarkable projects are all very well-planned and designed as a community within a community. Not as with many other communities where they are locked in secluded habitats. That’s not the case with the communities being built in Sharjah. And there are many more, such as Sharjah Sustainable City and Naseem. All locations are in areas next to University City and New Sharjah and have everything you need close at hand. They worked on everything, from commercial use to parking, multipurpose areas, and playgrounds. If you live there, you have everything, and you’re involved in the community. I’m glad that these projects came up, and I do think more will come up and they will be even more successful.

You have many portfolios. Being the Vice Chair of the Consultive Council of Sharjah , would you like to comment on the new logo? What is the idea behind it, and how will it impact the Emirate’s vision?

Sharjah has always been what the logo reflects: A centre of culture, education, togetherness, strong faith, and strong values. Sharjah’s new brand identity is a reflection of its rich history, ambitious and vibrant arts, and cultural landscape. It offers a glimpse into why it is and always has been the preferred place to live, work, and visit for not just its natives but also the millions of expatriates who call the UAE home.

As a member of the Sharjah Chamber of Commerce and Industry, how do you facilitate and attract investment to benefit Sharjah?

Starting a business in Sharjah is a breeze. The Chamber of Commerce has simplified everything with great clarity on processes, offering free zones and straightforward licensing procedures. Logistics in Sharjah are unparalleled, with multiple ports, an expanding Sharjah International Airport, an industrial area, and plenty of versatile spaces for businesses to set up shop.

Opening any activity in Sharjah is easy, as the government does not hold back on resources. Foreign companies have been choosing Sharjah for their regional expansion, particularly during the last few years, including small businesses and, specifically, fintech companies. Sharjah Research and Innovation Centre is a very active incubator for those looking to turn their idea into reality, making the Emirate a most comprehensive business destination.

Can you summarise the outlook of the UAE economy and the sectors that will thrive in the coming year?

I would mention real estate again, but that’s been around since the birth of the country.

Fintech is being redefined globally, and owing to market needs and the fact that a lot of businesses are opening up here, I see the sector thriving significantly.

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