Interviews

Finger on the Markets Pulse

by BTM

Sun, 03 December 2017

Finger on the Markets Pulse

The upmarket freehold residential project developed by Dadabhai Properties, Seef Terraces, is on the verge of completion and will be handed over to its owners soon.

“We have been in the business of construction for the past 45 years, and have become a reliable name that has earned the trust and confidence of clients,” says Shabbir, managing director of the Dadabhai Group. “A builder’s track record is very important and we let our success speak for us.”

The company works closely with Pegasus Real Estate, the property trading arm of the conglomerate, to identify the niche requirement of the market through in-depth research.  “From the size and quantity of the units to be built, to the facilities to be provided, we work hand-in-hand to ensure that we will be fulfilling a justified demand in the country,” he explains.

 

 

Shabeer is personally involved in each project that the company undertakes – from the selection of materials, to the design aspect. The company boasts its very own team of experts dedicated to its projects, with all facets of the building being handled in-house. “The material we use is A-grade and potential homeowners can easily distinguish the soundness and finish of our structures from those of others,” he says.

With each of its ventures, the firm has accomplished what few others can manage – on-time completion. Seef Terraces is undergoing its final finishing touches, and will soon be ready to hand over to the owners, as promised. “The location of our project in an upscale district is strategically ideal,” says Shabeer. “The area is on the verge of becoming an elite diplomatic zone, with a number of embassies springing up close by. That, itself, makes it a premium development.”

With the scaffolding off, the structure unveils its imposing façade and high quality of workmanship. Shabeer elaborates by saying: “The spaciousness and number of recreational amenities here will be talked about for a long time to come. I would like to see any other developer match these many facilities under one roof. The infinity pool; separate men’s and ladies’ gymnasiums; tennis, squash and basketball courts; a cinema lounge and jogging track; and a well-equipped kids’ play area are a few out of the many recreative arenas on site. Add to that attractive landscape features and world-class fittings and fixtures. Residents do not need to spend any more money to have a five-star lifestyle. It’s perfect value for money.”

 

 

Seventy per cent of the units have been sold, and the value of the property has already appreciated. “Our buyer profile is multinational, most of whom will be the end users of the building,” says Shabeer. “We value customer relations and look to strengthen them. Buyers of Abraj Al Lulu, one of our first projects, have gone on to invest in our other properties, such as Juffair Heights, Juffair Skyview, and now, Seef Terraces.”

No honest work comes without hurdles, and currently the biggest challenge is riding the global economic rollercoaster. “When the banking and money lending sector is in distress, people tend to hold on to making big decisions like buying property, which in turn affects the construction business,” he adds. “But by God’s grace, due to our excellent track record, we have delivered on our promise even during difficult times. We have a solid rapport with the country’s financial institutions that has enabled us to retain our quality standards and stay committed to our customers.”

Pegasus Real Estate’s managing director, Aziz Mithaiwala, has executed a robust, technologically driven plan for marketing the project. The mobile app created specifically for this venture allowed potential residents to virtually view their units and the complex’s facilities and keep track of its construction status. The team has won the accolades of ‘Best Residential High-Rise Development’ and ‘Best Residential Development for the Individual Unit’ at the prestigious International Africa and Arabia Property Awards for a second time this year.

Commenting on the current status of the regional real estate scenario, Shabeer says: “The only way from here is upwards. I believe that strong, reputed projects will do well, no matter what the market situation is like. Likewise, today’s savvy consumers will not buy a bad product even in favourable times. We tick all the boxes, and are optimistic that investors will recognise the solid benchmarks we have set for ourselves, against the hype that some other newer companies create. Those investing right now into our properties will have a stock which will only appreciate, and a premium one like Seef Terraces will prove to be a lifetime’s security, for the end user and the investor.”

#SHABEER DADABHAI #DADABHAI PROPERTIES #SEEF TERRACES #DADABHAI GROUP

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