(MENAFN- AzerNews)
Sabina Mammadli read more In an exclusive interview with Azernews Sabina Mammadli,
Partner & Managing Director of BlackOak Real Estate, a
leading Dubai-based international property company, Riad Gohar
spoke about the Dubai real estate sector, as well as the
development of the real estate sector in Baku, gave advice to
Azerbaijanis seeking business in the UAE and bilateral
cooperation.
The discussion was held on the sidelines of the 'Invest in
Dubai' Business Luncheon held by Dubai Chambers International
Office in Azerbaijan and UAE Embassy in Baku.
Q. Welcome to Baku. Please, tell our readers about you
and the entity you represent.
A. Thank you so much for having us here. Such a great country,
such a great place, and the people are just amazing. My name is
Riad Gohar. I am an expert who resides in the United Arab Emirates.
I've been living there for almost 20 years. Predominantly, my
industry is real estate and construction. We are here under the
support of the Dubai Chambers International Office in Azerbaijan to
learn more about the country's economy and culture, and at the same
time, to find mutual opportunities where we could relate and bridge
the gap.
Q. Can you talk about the nature and objectives of your
visit?
A. Again, we are here to learn more about the economy of
Azerbaijan, the financial needs, and the outlook of the
macroeconomics, to offer opportunities in real estate, as well as
expose Dubai's culture and its financial instruments. Another
objective is to see how we can connect the two countries and
nations.
Q. Please, share your expectations about the“Invest in
Dubai' Business Luncheon.
A. I've had an experience with Dubai Chambers in China and I
know that when they do events, they are very solid and that they
are very serious in their business. So, we are 100 percent sure
that there will be an incredible future and continuous business
together.
Q. Dubai has successfully diversified away from oil
revenues into trade, logistics, tourism, real estate, and financial
services. How have international investors benefited from this
diversification?
A. Well, the UAE, and Abu Dhabi, specifically, were always oil
producers and exporters. However, for the last 20 years, the UAE
has been looking into this diversification, specifically, in
aviation, tourism, and services. Due to that, they had to create an
incredible platform of security and regulation to cater to all this
diversification. They connected with their aviation the entire
world to Dubai. It became an international hub for business and
leisure tourism. So with that, it created a lot of financial
revenues so when investors do come to Dubai, they see year-on-year
and month-on-month an increase in their revenues. A lot of
companies have come here and started with a small office, and after
a few years, they have listed their companies and so on. It is
definitely a great vision that has been achieved and executed
properly.
Q. You are visiting Baku in partnership with Dubai
Chambers. How does Dubai International Chamber support
international business development for companies such as
yours?
A. It is a great initiative of the Dubai Chambers. They enable
local businesses to expand to global markets, facilitating trade
and leveraging their global network and presence to support local
businesses as they expand beyond borders and promote Dubai as a
global business hub. I have personally been supported by Dubai
Chambers in China, where they have opened a lot of opportunities
for us. Similarly, if it wasn't for the Dubai Chambers
International Office in Azerbaijan, we wouldn't be exposed to the
opportunities that Baku has to offer. They open a lot of channels
and their mission is to go further with almost 50 offices around
the world, which connect small businesses, in particular, to
opportunities out there. We are very thankful to them.
Q. What are your first impressions of Baku?
A. It is a very beautiful city. My first impression is that it
is probably the cleanest city I have ever seen and I have traveled
the world. And that obviously comes from your high level of
education and high level of awareness. Another thing is that the
architecture is beautiful over here. I have seen modern
architecture mixed with historical. That culture of mixing this
together shows a diversification in the way of living and modern
development into real estate. It is very similar to Dubai, where in
the past 20 years the development of real estate has seen a lot of
fast growth. And I see the same thing here. I see the tremendous
transformation from what we've used to hear about Azerbaijan to
now.
Q. What are your observations about the state of real
estate development in Baku?
A. I see tremendous transformation in the real estate sector, in
the developing sector; I've seen a lot of hotels bring brands all
over the streets that show that tourism is highly positioned over
here. I know that a lot of my friends and colleagues are always
traveling to Azerbaijan for tourism and that always come from an
initial look into real estate. And the mix of culture and heritage
and modern elements in your real estate creates the need to come
and visit all the time.
Q. What would be your advice to Azerbaijani
businesspeople considering doing business in Dubai?
A. I would say attend my presentation, for starters. The
infrastructure in Dubai has helped a lot of investors to live there
by creating security, stability, and social networking stability
like schools and hospitals. Their vision has been executed very
properly. When you are looking for a country that you want to
invest in, you look at a few factors, like the unemployment rate if
it's too low or neglected, at the level of happiness of the
residents - we even have the Ministry of Happiness in the UAE. When
you look at all these criteria and see that they top the chart,
then it is a market that you want to enter. When a country has
created an incredible platform for diversification, you create
growth in other sectors. It is a growing economy and with that, the
investors can see growth in their investments and safety. There is
no devaluation in currency and never has been even through three
cycles of a downturn. You need to be partnering with the right
partners who will take care of your investments, consult with you
the right way and manage your assets over the future. This is why
we are here, to extend these opportunities and support as much as
we can.
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Sabina Mammadli is AzerNews' staff journalist, follow her on
Twitter: @sabinammdl
Follow us on Twitter @azernewsaz
Tags: investments uae real estate business interview azerbaijan-uae blackoak real estate