Joining us for episode two of the Dubai View Podcast is Dave Chaggar, a prominent figure in Dubai’s business landscape with over 10 years of experience in sales, commercial real estate and investments. As the Sales Director at Capital Club Dubai, one of the most exclusive business clubs in the UAE, Dave plays a crucial role in facilitating multi-million dollar deals with high-profile clients across various sectors.
DubaiView CEO Mario Costa sits down with Dave to navigate Dubai’s thriving luxury real estate market, key investment strategies and emerging market trends. The discussion hones in on Dubai’s post-COVID real estate boom, how supply and demand are driving the ultra-luxury segment and how to navigate high-value deals in the competitive workplace.
Why Are More and More Investors Making The Move to Dubai?
The surge in migration from the UK and Europe to Dubai is a testament to the unparalleled opportunities in Dubai, both personally and professionally. According to Dave, the political climate and taxation system in the UK have prompted entrepreneurs and investors to flock elsewhere. Why are people choosing Dubai you might ask? It’s tax-friendly, a hotspot for networking and boasts a safe and secure quality of life. “People can be based overseas and still have their companies in Europe or the UK,” Dave adds.
Dubai’s Real Estate Boom Post–COVID
Dubai’s real estate market has seen unprecedented growth since the pandemic, with no signs of slowing. “There’s been so much interest in Dubai, whether as a primary resident or for investment purposes” Dave shares. The rise post-COVID can be attributed to many factors:
- Rapid Adaptation : “The UAE adapted very quickly to open up, and that put it in good stead,” Dave asserts. While the world stood still, Dubai moved forward, attracting global attention.
- Long-Term Commitment From Expats: “People see it with a much longer-term plan these days,” he said. “They’re now looking at 10, 15, 20 years as an overall timeframe to start with.”
- Supply & Demand Dynamics: Sectors such as the ultra-luxury market are faced with increasing demand, driving prices up and up. Areas like Dubai Hills and District One are poised for significant growth due to limited supply. “To find villas of magnitude and plot size is very rare these days” Dave points out.
Off-Plan vs. Secondary Market: Where Should You Invest?
Mario and Dave believe that both options have their merits. For investors seeking immediate access, the secondary market offers availability and potential deals. In contrast, off-plan properties provide brand-new products for those willing to wait.
Dave Chaggar’s Tips for Successfully Closing High-Value Deals
Drawing upon his many years of experience, Dave pinpoints trust and value as the core components behind any successful deal. “The key is to always sell without selling,” he advised. “If they understand you’re adding value in whatever capacity, then that’s far more advantageous.”
Dave also emphasizes the importance of fully understanding clients’ pain points and providing tailored solutions. “If they see that you come from a position of knowledge that can really understand their major concerns, that makes a big difference” he said.
Actionable Tips for International Investors
If you’re looking to get started in Dubai’s real estate market, familiarize yourself with Dave’s practical advice:
- Conduct Thorough Research : Understand market trends, regulatory environments, and potential risks. Knowledge is a powerful tool in making informed investment decisions.
- Leverage Networking Platforms : Engage with business councils, professional organizations, and networking hubs like the Capital Club to connect with industry professionals.
- Align with Long-Term Vision : Consider the city’s strategic growth plans and how your investment can align with future developments.
- Stay Adaptable : Be prepared to navigate a fast-paced market by staying informed about emerging trends and being flexible in your investment strategies.
Ready to Explore Dubai’s Real Estate Opportunities?
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