Seif El Hakim to focus on real estate, business set up

DUBAI / Gulf Time

After having firmly entrenched itself in the Egyptian, Russian and Turkish markets Seif El Hakim Group of companies is set to foray into the cosmopolitan city of Dubai which is synonymous with the posh shopping malls, penthouses and real estate activity as the city which is fast returning to normal.
The real estate industry has experienced significant growth and changes over the past few years and it seems positive. Serial entrepreneur, Seif El Hakim is eyeing major expansion in the upcoming few months which includes foray into real estate in Dubai.
The mega event Expo 2020 Dubai which is the world’s biggest cultural gathering has brought investors from across the globe on a common platform to discuss new avenues for investments and this has added more boost to the UAE’s economic growth with a focus on the real estate industry.
As per the figures issued by Dubai Land Department (DLD) recently weekly real estate report said the sum of property transactions stood at 2,461.330 plots were sold for AED1.65 billion, 1,653 apartments and villas were sold for AED3.42 billion. The top transactions were a land in Nadd Hessa sold for AED189.65 million, followed by a land that was sold for AED90.07 million in Palm Jumeirah. Al Hebiah Fifth recorded the most transactions for this week by 164 sales transactions worth AED335.52 million, followed by Al Merkadh with 43 sales transactions worth AED324.36 million, and Wadi Al Safa 5 with 26 sales transactions worth AED113 million in third place.
The top three transfers for apartments and villas were an apartment that was sold for AED459 million in Marsa Dubai, an apartment sold for AED444 million in Burj Khalifa, and
an apartment sold for AED278 million in Business Bay.
The sum of the amount of mortgaged properties for the week was AED1.54 billion, with the highest being a land in Al Qusais First, mortgaged for AED320 million. 124 properties were granted between first-degree relatives worth AED210 million.
Speaking at length about his expansion plans and Dubai property scenario, Seif El Hakim, President, Seif El Hakim Group of companies said, “Dubai is definitely on my map for expansion in the real estate sector in the coming period, and I strongly advise investors to follow my footsteps.”
Real estate investment in Dubai offers one of the highest rental yields in the world. The emirate is one of the fastest growing cities in the world in terms of population and it has a world class infrastructure, booming tourism, strong and transparent regulations, safe and stable, tax free & freehold. The emirate provides property investment visa for properties above 1 million dirhams which no other city in the world offers.”
Seif El Hakim, who is a global authority on business, leadership, and exponential success spoke extensively about what mistakes the entrepreneurs should avoid if they want to set up company in Dubai, “No matter how keen and careful one maybe, the possibility of committing a mistake is bound to happen. No doubt internet can provide you with a variety of choices and different sort of information but solely relying on internet for form a company can be a big mistake, choosing the right license for activity and the local sponsor can save you from a lot headache in the long run.”