With the Likes of Hussain Sajwani, DAMAC Owner, in the Real Estate Sector, Dubai Cant Ask for More

Posted on December 07, 2018

Dubai real estate market has unsurprisingly maintained its position as one of the most transparent market in middle east in the Global Real Estate Transparency Index. The market has moved way up eight places in global rankings.

As pleasing as the news may sound to Emirate as well as the real estate sector, they are not surprising because people in the region are used to scaling new heights every now and then. It has been the order of activity in the visionary city since its inception. The Dubai’s real estate which is made up of real estate titan such as Hussain Sajwani, DAMAC owner, has been constantly evolving and increasing investment opportunities over time. The sector has been built through taking up challenges and learning in the lows and utilizing opportunities well in the high. Innovation has been the order of things in the sector every time embracing supportive trends and change. The state has enabled development of the most sophisticated properties around.

14,000 properties were added to the Dubai market, according to Dubai Land Department. This is an impressive development although experts believe that more should be done to meet the demand raised by the ever-increasing population. The following are some of things that make Dubai market the most attractive to investors.

Visionary leaders

The UAE government has put in place incentives to allow for more growth in the sector. Waving of 4% late payment penalty and opening up the market to accommodate foreign investors has helped Dubai to sustain the sector. Even Hussain Sajwani, owner of DAMAC Properties, was impressed by such efforts the government is putting and vowed to contribute to the growth of the sector. Now, foreign investors can obtain long-term visas to continue staying in Dubai and develop properties. These efforts are bound to attract more investors.

The technology Impetus

Global innovation hub is being developed greatly by Dubai and with time, its impact will be seen in the real estate sector. Dubai Land Department unveiled the ‘Real Estate Self Transaction’ platform that enables investors in the sector to transact more efficiently and securely. Investors in the sector can do a lot in the robust platform. The government is also looking to boost transparency and ease of doing business in the sector through blockchain technology.

The product and payoff

Developers have also come up to support the government’s efforts to transform the sector. Prominent figures in the sector such as the CEO and Chairman of DAMAC Properties, Hussain Sajwani, are spearheading development of magnificent properties in the region.

Talos Energy : The Path Towards Open Communication

Posted on December 04, 2018

In the wake of a recently discovered oil deposit of over 2 billion barrels of oil in the Gulf of Mexico, Talos energy and CEO Tim Duncan are seeking to form a partnership with PEMEX (Mexico’s state-run oil company) due to the fact that the adjacent block is owned by PEMEX. Tim Duncan stated that a partnership would see open communication within companies and the sharing of data that would benefit everyone. This partnership would also include a consortium with British oil and Mexico’s Sierra Oil and Gas.

The aim to form a partnership did not come without its obstacles. It’s often forgotten that for many years the Mexican government restricted and banned any partnerships with outside entities. This move was made early on during the infancy of the Mexican government in order to protect their natural resources as well as to allow their oil company PEMEX to grow. The move worked for many years as PEMEX would grow to be one of the largest oil companies in the world, however, later corruption and mismanagement led to its budget being cut and the company would go into a 14-year slump.

For CEO Tim Duncan, however, there was a light at the end of the tunnel in the form of newly elected president Andres Manuel Lopez Obrador. President-elect Obrador campaigned on his promise to bring back strength and respect to the struggling oil company, so when Tim Duncan met President-elect Obrador both unanimously agreed that a partnership would be in everyone’s interest. After a quick approval for the appraisal plan by the Mexican Oil regulators, Talos Energy and the Zama project where set to begin drilling in late November of 2018 with the installation of two new wells in mid-2019. Chief Executive Officer Tim Duncan stated that by 2023, the wells would be producing up to 150,000 barrels of oil per day.

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