Dubai (PRWEB) November 19, 2008
Charles Darwin's theories may also soon apply to the trillion dollar industry that is represented by the Dubai real estate market. In a recent real estate seminar, sponsored by World Class Group in Dubai, the keynote speaker said that the future of the real estate market will be based on Darwin's law of natural selection.
Michael J. Tolan, CEO of World Class Group was addressing representatives from over 30 real estate related companies attending the forum, 'Beating the Economic Meltdown, Wrestling Alligators in Dubai'.
"The trends of the market will follow Darwin's Theory of Natural Selection,and the entire model of the market will transform." he said. There will be market deselection of smaller companies avoiding transitional change and market demand adaptation.
"Developers will take lessons from the past recessions and will innovate new packaging and offerings to comply to investor demand, he added. More rent to own schemes, attractive and flexible in -house finance, and real estate investment trusts will emerge to lure investors back into the stormy and uncertain waters of the real estate market." he said.
The seminar which was attended by a variety of related service companies from hedge fund managers, property developers and real estate agents.
He also highlighted the advent of fractional ownership and timeshare schemes which will evolve in the Dubai UAE markets to offset the oversupply of unsold inventory and attract a new class of investors and speculators.
"In the past, the lucrative Dubai real estate market has succeeded on the heals of market euphoria and innuendo, which has created an artificial hype. Vanity selling has been the main culprit," he said.The market value today exceeds 4 trillion dollars of existing or pipeline projects, including the world tallest building and projects like the Palm Islands which feature Trump Towers, Atlantis and the new World Islands.
"Developers and agents in the future must address the fear factor that may prevent investors to plunge into the market, and good solid regulations that Dubai has now adopted will go far to overcome consumer protection issues often absent in the past."
"However, he said that Developers who will continue to use the models of the past 18 months in the market could be in for a severe correction in their performance numbers".
"Innovation and creativity which delivers real value to the end users will be the road to any success in the coming 18 month cycle", said Tolan.
"Companies that will outperform their peers will make substantial investments in creating new platforms, re-engineering their models and upgrading skill sets of their human resources.
The market will see a host of new services in this transformational period, and it will eventually be an upgrade of the whole market. The strong and innovative companies will pioneer the future road ahead", he said.
"Real estate consumers will respond when they have a big enough incentive to do so, therefore the more flexible and innovative the offering, combined with stringent measures of safety and protection,the better the outcome for the future of prosperity in the Dubai market arena" he added. "The Dubai market is experiencing a slow down, however is dynamic, amazing and full of promise" , he added.
About World Class Group:
A multi-disciplined consultancy practice based in Beirut with representative offices Europe and the UAE. World Class focus on corporate training, designing innovative Marketing strategies and act as a mentoring solution for boardrooms. The group also offers real estate consulting services and shared ownership solutions.
For More Information contact Mr. Bassam Nakad
or Michael Tolan
+971 50 157 2321