Dubai stands out as one of the top destinations for Chinese investors

Inayat-ur-Rahman

IQI Global, a leading brokerage firm has announced an alliance with Dubai-based Key One Realty Group in order to expand its operations and businesses across the region.

With the recently announced merger between IQI and Juwai.com, the leading property portal for Chinese investors, the merged entity now represents Asia’s biggest proptech group for global property.

Kashif Ansari, Group CEO of IQI Global told Gulf Today that they were very excited of having a partnership deal with Key One Realty Group.

He mentioned that the main concept behind the alliance was to serve the growing numbers of clients in the UAE, adding that analysing property demand trends of Chinese consumers as recorded by Juwai.com over the past seven years, Dubai stands out as one of the top destinations for Chinese investors.

“With the data from the 3.3 million visitors every month on Juwai.com we’re able to analyse the trends and demand for property in specific regions and tailor products to meet those needs.”

Ansari lauded the visionary Rulers of the UAE, adding that the upcoming Expo 2020 is expected to have a significant impact on the country’s economy, contributing Dhs122.6 billion in value by 2031, stimulating investments and creating thousands of jobs.

“Over 190 countries have already confirmed their participation in the event, offering huge opportunities for UAE-based companies, multinationals and organisations with regional offices, to take advantage of the influx of potential new business.”

Ansari mentioned that the majority of the roles will be in construction, real estate, hospitality, aviation, retail and services.

“The global real estate saw transactions of $1.6 trillion in 2018 with Indians being the second largest group of foreign home buyers in the world after the Chinese. The number of new high worth individuals in India grew by around 26%.”

“With these figures in mind, Ansari added that with their success in China and Asia, they were confident of being able to serve Indian clients in their search for lucrative global property investments.”

 “Bringing together Juwai, IQI and Key One, backed by our proficient AI capabilities, we expect it to be nothing less than a genie in the bottle that helps them achieve their desire, ” Ansari concluded.

Key One Realty Group, Founder, Diana Magariu said: “We believe that the alliance would bring to the table expertise that can create a unique partnership. Together we can explore and cater to a larger customer base by bringing global properties on a digital platform through one of Asia’s biggest property portals. Also in keeping with the vision of His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for Emiratization, we are in the process of developing a multidisciplinary global training and development programme for the Emirati Youth geared towards Real Estate best practices and strategies”.

“The core strengths that have contributed to the recognition and success have been our understating and appreciation of Human Capital Development and policy of equal opportunity and growth.” added Diana Magariu.

Magariu mentioned that her company together with IQI Global is keen to tap the Russian market.

Omer Ali Khan, Director, IQI Dubai told this reporter that the Dubai property market is on solid growth track and is marching ahead bucking the global trends.

“With Expo 2020 coming home, Dubai will be splurged with tourist who would need accommodation. 71% of the 25 million visitors who are expected to visit Expo 2020 will be non-domestic visitors. The press media is now on its tip toes to fetch every minor details relating to Expo 2020. We can promise that the word “Expo 2020” will be the most occurring keyword in the many years to come, ” Khan concluded.

Juwai.com currently serves a large number of buyers from China and South East Asia. The company now plans on expanding its successful operations across the Middle East, North Africa and India.

The company is investing in Artificial Intelligence systems seeded by seven years of online data from Juwai.com and human intelligence provided by IQI’s team of over 6000 people globally. The algorithms will analyze consumer behavior and patterns to determine consumer intent, such as relocation, preferences or retirement, instead of the regular format of property suggestions based on the consumers inputs.

“Juwai.com offers more than just property. It’s a property marketplace.”