Avanti Holding study affirms self-funded real estate companies in the Middle East more likely to hurdle global financial crisis
Study expects real estate sector to recover within the next six to eight months
A study conducted by Avanti Holding, a self-funded leading international property development and investment company, affirms that companies adopting self-funding, particularly those involved in the property markets, are less affected by the ongoing global economic crisis. Such organisations are more capable of venturing into projects with potentially high returns and rapidly adjusting to fluctuating industry conditions.
“What continues to make companies like Avanti buoyant despite the credit crunch is the ability to fund itself rather than rely on banks or other companies. This robust financial foundation allows companies to venture into more projects, particularly in the uniquely vibrant Dubai market. We see huge demand in Dubai despite a significant percentage of construction projects being postponed, meaning that in this part of the world it’s more of apprehension rather than a poor market. I believe that this will be corrected over a period of six to eight months; by then we can expect a slow and steady process of recovery,” said Dr. Issam Daoud, Chairman, Avanti Holding.
According to the study, the second half of 2009 would be a good time to buy property in Dubai, as it expects prices to increase significantly before the end of next summer. “For cash-rich investors, the latter half of this year would be the best time to buy property in Dubai, since we expect the prices of property to shoot up by around November 2009,” said Daoud
“Looking ahead, we are confident of at least a 5% economical growth for 2010, due to the bottoming out of the market, a growing number of customers started to show interest to invest in our projects and others. We will continue to actively engage with our clients and make sure that we positively act on their opinions and feelings. This atmosphere of interaction and trust is and will always be above all the core of our successful partnerships,” he added.
Avanti Holding is a part of Issam Daoud Group of Companies that manages various interests, including real estate development and investment companies, real estate brokerage firms, management consultancies, oil and gas companies, and diverse businesses construction materials, and jewellery trading.
Avanti Holding is renowned for its international standards and quality of service and its emphasis on enriching the lives of its clients. Avanti’s goal is to become a one-stop shop for property investment solutions constantly attuned to changing market trends. The property specialist is also compliant with the requirements and mandates of Dubai’s Real Estate Regulatory Authority, thus making it a key player in Dubai’s property market.
