November 2022 - Deepak Mandy

The UAE real estate is back on track after a few sluggish years. The pandemic hit the real estate market globally and UAE was no exception. However, the prices are at a point now when it is just the right time to invest. The market is recovering but it has not reached its peak. This is ideal for resellers as well as for people looking to buy a new house, live in it, and then sell it later.

For residential property investment in the UAE, you need a proper toolkit. This includes all the soft skills that can help you play it smart in this industry. As aforementioned, the time is right. Property rates in Dubai and Abu Dhabi are rising. Having a slice of this delicious cake is on the offering for everyone at the moment.

The right time for real estate buyers to pitch in

Dubai, Sharjah, and Abu Dhabi are all witnessing a crazy spike in the real estate market. Factors like a growing economy and a rising population are at play here. Things are looking to go in the same direction for the predictable future as well. Based on real world data, experts suggest that the curve will head upwards for at least five years. However, it is worth noting that market investments in real estate are always subject to risks. Overinvestment, therefore, should be avoided at all costs.

Helpful tips for real estate buyers in the UAE

Tip 1: Identify your goals

The first thing to do before investing in property in the UAE is to identify your objectives. This is a key step in the lifecycle of real estate buyers. It helps in determining the kind of property you should invest in. This then leads to scoping the market and looking for the right opportunities.

Identifying one’s goal for residential property investment in the UAE should be based on real world data. You should also approach this market with a flexible mindset. Sticking to what you want to invest in although other verticals might be doing better is the wrong play. Therefore, make sure that you know what you want to achieve and how you want to do it.

If you are a reseller, then residential and commercial properties both open up for you. However, it is for you to decide whether the former or the latter is the better choice. For an end user, residential property investment in the UAE is the right way forward. With the rising population, things are looking good right now.

Tip 2: Research about government policies

Government policies and guidelines in the UAE can also determine the kind of property you want to invest in. Certain areas in Dubai, for example, are on sale and are designated as freehold properties by the UAE government. This means that even a foreigner can buy a residential or commercial plot there.

Expand your research and educate yourself. The idea is to get the established systems on your side and use them to your advantage. Look for places where the government aims to execute projects in the near future. The government also pushes certain properties for investment. Look into those as well.

Tip 3: Learn about the financial side of residential property investment in the UAE

Real estate buyers should not fool themselves into thinking that the down payment and the installments (or complete amount) is the only expense heading their way. Make sure that you expect the following:

Agency charges
Transaction charges and fees
Convenience fees
Sales procession fees
Insurance
Maintenance expenses

This is not all. It is highly recommended that you meet with an advisor and clear your doubts before any investments. These advisors will also charge a sum of money. At the end of it all, you’ll have to do the maths and figure out whether the investment is profitable or not.

Tip 4: Maintenance expenses

This is not all though. Maintenance expenses and service charges should be considered and calculated beforehand. Depending on the location of the property, you’ll have to weigh this factor and come up with an affordable solution. For real estate buyers who want to resell, the longer they hold this property, the more the maintenance will be.

Tip 5: Scope out locations and hire a licensed consultant

The most important thing in residential property investment in the UAE is the location of the property. Your research on this ‘department’ should be thorough and well thought out. This is why we recommend working with a licensed consultant who is an expert on the real estate scene in the UAE.

A property in the UAE is heavily reliant on its location and its future prospects when it comes to defining its value. It is crucial that you understand this before dipping your feet in the pond.

Tip 6: Verse yourself with the buying flow

This includes the complete mechanism of how property investment takes action in the UAE. You should be well-versed with the process – the A to the Z. Some of the steps that need special mention and consideration here are:

How and when to make an offer.
How the negotiation takes place – the formalities and the execution.
Defining and drafting the contract.
Other documentation is required.
Arranging the NOC.
The handover process.

Working closely with a qualified real estate investment expert will do a lot of good here. They can help you come up with a checklist and guide you through the process.

Tip 7: Plan when and how to sell the property

This should be considered and planned from the very beginning but as usual, you should be flexible with it. An exit plan is important and decisive in the success of your real estate investment.

There are also certain things that come up when the property is being handed over. The value of the property is defined by many parameters, one of which is the utility factor. The location and the market data may be positive but the practical ground-level reality may be different. This is why an exit plan must be in place to bail you out of unfortunate investments.

The CEO Magazine recently interviewed the founder of CBD Movers, Deepak Mandy, and here is an extract from his exclusive interview. Let’s dive into it and learn about his life story.

In the year 1979, the world got a dynamic leader, but the talent was yet to be unleashed. Yes! Mr. Deepak Mandy, born in 1979, was destined to become a dynamic entrepreneur and a great leader. He is a true example of “age is just a number.” At a very young age, with the spark and zeal to move the sky, he started his journey.

Mr. Mandy had very little money in his pocket when he left for Melbourne, Australia from India. But his heart was on fire to become successful. He started with the plan to start a taxi company. He had to battle a lot in the beginning and also took various odd jobs on his plate. He also invested his surplus money in a cab business. Young Mandy was determined to make it successful.

All his experience, knowledge, efforts, and perseverance were rewarded in 2009 when he started his moving and packing business. It started with a two-ton vehicle and a man. And today, his moving company has established a strong network worldwide. The brainchild of Deepak Mandy, CBD Movers is thriving as an international transport business and operates in Australia, the UK, New Zealand, the UAE, the Philippines, Canada, and India. This glorious success does not stop him, and he is further determined to come up with more branches.

Mr. Mandy has been very competitive since his early teens, and that serves as a major reason behind his success. He takes up challenging objectives head-on. In addition to logistics, moving, and packing, he utilizes his experience to offer business development and real estate services. He aims to take CBD Movers to even greater heights and make it a reputable company at a global level.

Talking about the success of his business, he reveals with a spark in his eyes that CBD Movers tops the moving and packing industry in Australia, with affiliates in Canada, the UAE, New Zealand, India, and the Philippines. The reason for this zenith success, he feels, is the dedication of his team to exceeding the expectations of the customers. CBD Movers has been setting new standards for commercial, residential, corporate, and international moves for over a decade now.

Furthermore, CBD Movers has always been appreciated for the pace at which it is expanding its horizontal and vertical growth. The company has built a strong network of like-minded people. The brand has made significant investments to strengthen the infrastructure, vehicle fleets, personnel, and all the other resources. All this has contributed to the worldwide establishment of the brand.

Most people relate success to earning profits only. But Mr. Mandy’s perspective on success is not the same. Though revenue is one of the important aspects of success for him, he also considers some other factors, like the firm’s expansion, customer satisfaction, and the networks he has built. The factors to achieve this are client focus, integrity, creativity, teamwork, innovation, growth, accountability, teamwork, respect, and ownership, as revealed by Mr. Mandy.

Being a visionary man, Mr. Mandy always has approachable plans for his future. He aims to nurture his team to the best of his abilities. And he has a specific plan for doing so. It will be done by putting systems in every organization, emphasizing well-organized and strong training programs. It will help in strengthening the roots of the organization and lay a solid foundation to achieve customer satisfaction.

Businessmen are often believed to be money-minded and focus on achieving profits only. Mr. Deepak Mandy, on the other hand, is known for his constant desire to give back to the social institutions in which we live. He has the desire to feed 1,200 families, offer free tuition to his employees’ families, and offer a considerable amount of his profits to charity.

Through CEO Magazine, Mr. Mandy advised his readers to “remain consistent and never give up.” He believes that everyone has challenges initially, but it is with perseverance that you can overcome these challenges and become a great businessperson. Do not give up on maintaining relationships and gaining knowledge.

By now, one thing is for sure: the reason for the success of CBD Movers is the zeal that CEO Mr. Mandy has to make his team learn through several initiatives like development programs, professional training, focusing on their communication skills, and nurturing the leadership and managerial skills of the organization. Apart from learning, the primary focus of the organization is the health, well-being, and happiness of its employees.

You must be thinking that CBD Movers must be very monotonous to work for because of the regular training programs that the company hosts. But the fun part is that the brand leaves no chance to create a social and enjoyable work culture for the employees. There are regular business outings, sports leagues, and holiday get-togethers, which ensure that the employees gel well together and strengthen the team bonds.

By now, you must be thinking that it was all a fairy tale success for CBD Movers. But as everyone has to face challenges, even Mr. Mandy had to take his brainchild through difficult times. He was able to do this because he tried his best to not dwell on his mistakes. He is an optimist and tries his best to take advantage of every situation by learning and developing from his mistakes. He accepts the fact that failures are unpredictable and can arise at any time and never fears facing them with his well-trained crisis management team.

Today, the CBD Movers franchise model serves as a distinctive strategy for its success. Many small and medium-scale businesses rely on CBD Movers to handle the relocation part. It is because the brand supports businesses requiring guidance and assistance to those who do not have enough resources to expand their personnel and lack proper guidance. By owning this franchise, people can live their dream of owning a successful brand that has surpassed the initial days of struggle and has a worldwide presence.

After this glorious success, Mr. Mandy has even higher aspirations for CBD Movers. The brand is heading towards achieving the goal of becoming the best at offering personalised and unique services. It further helps in achieving the ultimate goal of maintaining client loyalty. The goal is to grow not only vertically but horizontally too. The inner management tries its best to create an enjoyable, stimulating, and enriching work environment for the employees. The vision is to shine as the go-to movers and packers of the era, as shared by the founder and CEO of CBD Movers, Deepak Mandy.

As Mr. Mandy has built this empire from scratch, he understands the initial daily struggles. Thus, he wants to help all small and midsize business owners by providing them with the tools and resources that they cannot afford.

So, these were some of the insights from Mr. Deepak Mandy’s interview with The CEO Magazine. It reveals what makes him a dynamic leader and the secret sausage of CBD Movers’ success.