2013-12-22 12:57:32 - • Company confident in achieving AED 250 million in Q1 2014
• Announces expansion initiative which include opening of new office in KSA
Al Basel Real Estate Brokers, a leading real estate brokerage firm and a member of the Al Basel Group of Companies, earned over AED 575 million in sales in 2013. The company’s positive streak is attributed to the overwhelming response for their current portfolio of hot selling projects, which includes Downtown and Arabian Ranches for Emaar; DIFC and Business Bay for Deyaar and many others, in addition to its strategic partnerships with leading property investors from countries like KSA, Qatar and other GCC countries. With its excellent performance and continuing sales growth, Al Basel Real Estate has confidently predicted achieving AED 250 million in sales for the first quarter of 2014.
Looking to sustain its growth, the company has also revealed
an expansion initiative that will be implemented in the next four months. The move includes the opening of a new branch in the Kingdom of Saudi Arabia, which is considered as the region’s largest and main real estate market. According to Al Basel Real Estate senior executives, majority of today’s consumers who are looking to invest in real estate have preferred to deal with an experienced and highly professional firm like Al Basel, instead of going to new developers who have no references or actual projects delivered. Since its establishment in 2007, the company has managed to offer a diverse portfolio of innovative brokerage services that have been designed to encourage higher quality and best practices for both commercial and residential offerings.
“The Middle East region’s real estate market continues to demonstrate strong vibrancy and continuous growth, which is highly evident in the increasing number of residential development projects across countries like the UAE, Saudi Arabia and Qatar,” said Basel Al Kasem, Founder and Managing Director, Al Basel Group. “Owing to the industry’s continued growth, we have managed to generate over AED 575 million in sales in 2013. At the rapid pace of growth that the company has experienced, we are looking towards hitting sales of AED 250 million for the first three months of 2014. The strong response that we have received from customers and potential investors has prompted us to expand our operations in the region—starting off with the opening of a new office in Saudi Arabia, which is the largest real estate market within the Middle East.”
The leading real estate brokerage firm points out that with the UAE winning the bid to host World Expo 2020, the country’s real estate industry will be reinforced with more trust and added interest. In fact, industry experts are saying that winning the bid could result in billions of dollars worth of fresh investments in the UAE, further reinforcing the country’s move to be a global hub for tourism, trade and finance.
“The local real estate segment will stand to gain a lot with the UAE winning its World Expo 2020 bid. This will surely drive in a demand for more real estate offerings as more and more people have expressed interest in the real estate opportunities offered by the region,” concluded Al Basel.