Inside Abu Dhabi’s property market – propertyfinder.ae business breakfast

Last week, at the propertyfinder.ae CEO Business Breakfast, top Abu Dhabi real estate industry professionals spent the morning together discussing the market, their businesses and their experiences with the propertyfinder.ae platform.

propertyfinder.ae held its first CEO Business Breakfast of the year at the Fairmont Bab Al Bahr in Abu Dhabi, bringing together leaders from the real estate industry to discuss the current landscape and challenges faced doing business in the UAE’s capital.

Business Breakfast in Abu Dhabi

Among the attendees were Ben Crompton, Managing Partner at Crompton Partners, David Crook, Senior Property Manager at  ADNP, Fayza al Zarfouni MD of Infinite Dimensions, Derek Hoogenkamp Director of Sales at Bloom Holdings, Nizar Mouad CEO Areca Property Management, Wael Shami GM of 2030 Real Estate,  Atika Al Sakhiri CEO of MEC Property Development, Nadar Al Hassan MD of Skyliine Realty, Ahmed Webhe Senior Manager from DASPM, Moayyad Mossad Director at Smart Concept and Habib Ur Trahman from Zain Real Estate were also in attendance.

Discussions centred around the upcoming new real estate regulations being introduced by DMA and its likely impact on the sector as well as the challenges and idiosyncrasies of the Abu Dhabi market including the dominance and wide distribution of rental stock by the property management divisions of the major banks.

Lukman Hajje, CCO of the Propertyfinder Group moderated the event and lead the discussions. In attendance were senior members of propertyfinder.ae management team including Paul Spargo, Commercial Director, Alex Miauton, Deputy CTO, and Myles Rothwell, Abu Dhabi Team Manager.

The propertyfinder.ae ranking algorithm was also a hot topic of discussion, with attendees looking to gain a better insight into its elements and how to get their listings on the front page of the search.

Much time was discussed on the difficulty of operating in an environment where owners are reluctant to sign paperwork that commit them to a single broker and price. The general consensus was that this practice leads to duplicated listings; a grossly inflated perception of stock availability, and wastes a lot of time and energy for brokers, owners and consumers. Attendees were impressed with the success of propertyfinder.ae’s Verified Listing concept that has been operational in Dubai since mid 2015 and indicated that they would welcome a similar initiative in the capital.

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