Elysian first opened its doors nearly 10 years ago. What do you think are the main differences in the UAE real estate market between now and then? Are there any key moments that you think changed the industry?
Yes it has been a decade now. This goes to show that Elysian has been resilient and has continued to grow even in the most challenging times. We are proud of this decade long journey, which is also testament to our commitment to our clients and their trust in us.
The significant differences between then and now would be the regulations, the laws, the banking policy and an overall maturity of the real estate sector in the UAE. A decade ago people will come out of Dubai airport and within weeks started brokerage services without any formal training or certification without any fear of consequences. Credit goes to the government and especially RERA for ensuring the market is regulated in the right direction. Today the local real estate sector is far more secure and reliable then ever before.
The key moments for us would be the day the UAE allowed freehold property to foreigners. the introduction of title deeds. the introduction of strata laws, and above all the checks and balances set in place after the 2008 market crash.
In 2009 you expanded to open three new offices in Dubai and one in Brazil, at a time when the global economy and real estate market were going through a major crisis. Why do you think Elysian has managed to weather such challenging times where others may have failed?
For us the approach was simple. In a distress market if you pack up and leave, you leave behind many distressed and disappointed clients. The economic environment was poor worldwide and it is in these challenging times that a brokerage or real estate company needs to show resilience, character and be there for all its clients. So the management decided to stay firm and Committed, and to explore other markets that were less or not at all impacted by the global financial crisis.
We hedged our bets to sustain our operations in the UAE so that we were there for our clients. Not only did we do well we actually experienced growth. and it was that commitment that gives us a major edge over all our competitors. Our clients know that no matter how bad things get we will weather the storm with them and come out on top.
Ethics and client care are clearly very important to Elysian. How do you ensure that the needs of the customer are at the heart of your business throughout the whole organization?
Any business that wants to see sustained growth and long-term profitability must always remember that the customer is the most important part of the entire business. For us our relationship with our customers, associates and partners is of utmost importance. We do not sacrifice our relationships for short term profits.
For us as a company the greatest investment is our relationship. Relationships based on trust and commitment. We ensure that everyone working at Elysian adheres to our traditional values and are all kept updated with new rules, regulations and laws. Our compliance policies are very strict and very tightly monitored to ensure every member of our team is doing his or her best to deliver world class service.
Dubai and Abu Dhabi have a lot to give in terms of highend luxury property, which means competition can be fierce. What do you offer your high-net worth clients that others can’t?
Elysian has various specialized divisions, such as local residential/commercial sales and leasing, luxury division, international and Abu Dhabi, through which we offer an insight like no other company in the UAE based on our decade of local experience.
We offer access to information that can only be derived from a deep understanding of the UAE real estate market, its ups and downs, its highs and lows. Above all we are always there to listen to and understand the needs of our clients, and as I said earlier we value our relationships, so for us it doesn’t end when a transaction is complete. It goes beyond that, we will take care of all aspects relating to a client’s real estate investment through our services and that of our associate partners.
What’s next for Elysian? How do you plan to continuing growing and developing over the coming year?
We are continuously exploring new avenues. Our latest venture is our upcoming exclusive offerings of the five-star hotel and hotel apartments in Downtown Dubai by Dara Development.
Dara is about to launch new projects that promise to deliver world-class quality in the most prestigious locations in Dubai. Offering very good financial plans and extremely reliable after-sales and post-project completion services, Dara is an unmissable investment. We are also bringing a premium tower in London to our clients.
Strategic alliances like these are going to set the path of long-term growth for us and reaffirm our commitment to our clients and to the real estate industry for years ahead.