The Rise of the Dubai Real Estate Market – News

Nitin Chopra, founder of Range International Property Investment, shared his views on the growing investment demand in the Dubai real estate market

Since 2017, Nitin Chopra has made great strides in building Dubai-based RANGE International Property Investments into a leading player in the real estate brokerage space. Today, RANGE and its team of over 100 employees have more than 20 years of collective experience and intimate knowledge of the UAE market, but also the expertise to incorporate its portfolio of exclusive global properties into its portfolio. For Chopra, RANGE is not just a brokerage firm, but a community where each of the firm’s agents is a local who understands and can amplify the client’s needs. So whether you want to buy, sell or rent a property, RANGE’s team of professionals will be with you every step of the way.

Edited excerpts from the interview

What are the pros and cons of upgrading the real estate services module in Dubai?

As the emirate has emerged as a major international center over the past three decades, Dubai’s real estate market has grown and continues to evolve. With experienced and quality players in the field, and the latest technology available, upgrading services doesn’t present too many challenges, whether the focus is on buying, selling or leasing. At RANGE, we have well-informed professionals on our team with an in-depth understanding of the market, which allows us to stay on top of trends and helps us in our efforts to improve our services. So, I don’t really see any cons here, only pros.

With the new real estate law in Dubai, what are your predictions for the real estate market in Dubai?

A new law aimed at boosting investment in the real estate market will be a catalyst for the industry. As Covid-19 begins to lose its sting, demand for residential property has picked up pace and global investor interest has picked up. Therefore, the introduction of the new law will also drive the growth of real estate investment funds, which is expected to be a win-win situation for real estate in Dubai.

If there was one aspect of the real estate market missing that you think could make a difference, what would it be?

I don’t think the real estate market lacks anything, but what I would like to see is an increased adoption of technology globally. This has already happened in Dubai and the possibilities in India are endless. It’s exciting to think of the potentially transformative role technology can play in India’s real estate landscape – and, indeed, is already doing it. Because, smart technology helps every step of the way, from a seller getting a listed property to a buyer investing in the same property. It provides a seamless experience with zero inconvenience.

What sets you apart from other players in the market?

We select only the best professionals to represent us, who have a deep understanding not only of the local market but of international real estate trends. Members of our team are aligned with our vision and work hard to meet our clients’ requirements. Furthermore, because the approach we take is so detailed, and because we are unique in the brokerage space – not necessarily in the products we offer, but in the quality and range of our offerings – people choose us over others. Therefore, we do our best to provide them with the best service possible. Because, ultimately, our aim is to be seen as the all-in-one solution for anyone looking to invest in real estate in Dubai.

What is your vision for Range, and do you plan to expand?

Since we started our journey in 2017, our growth has been extraordinary – for example, sales revenue reached AED 1.5 billion last year. As the real estate market picks up after Covid-19, we hope to maintain this growth momentum. As for expansion plans, Range will continue to consolidate wherever we operate in the UAE, Europe, India, Pakistan and parts of Asia, and progressively seek to expand into other countries and continents, our in-house mortgage team will also be added to the expansion plans middle.