São Paulo – One of the largest construction and real estate development companies in the United Arab Emirates, Damac Properties is looking for Brazilian clients to invest or live in the Gulf country. “We have customers from Russia, the United Kingdom, China, and the United States. And there’s a reason they’re investing. Brazilians need to become aware of this,” Suhair Alqadasy, president of the real estate company HomeSphere, a partner of Damac, told ANBA.
Alqadasy, Damac’s Business Development director for Latin America Liliana Velasquez, and sales manager Tarek Abdelhalim visited the Arab-Brazilian Chamber of Commerce (ABCC) headquarters in São Paulo this Wednesday (31). The meeting also had the presence of the ABCC’s president, Osmar Chohfi, International Relations vice president Mohamad Mourad, and New Business director Estevão Margotti de Carvalho (pictured above, all the meeting participants).
On Monday (29) and Tuesday (30), Damac was one of the companies participating in the Real Estate Show United Arab Emirates 2024 IPS Congress, held in São Paulo by the Embassy of the UAE in Brasília, Consulate General of the UAE in São Paulo, and the International Property Show (IPS), with support from the ABCC.
Faced with “competition” from cities like Miami, USA, which attracts Brazilian buyers at a similar cost to Dubai, Alqadasy said it is not just about price. “It is about destination, which needs to be safe for your life, family, and business. She mentioned some attractions the UAE and its cities, such as Dubai and the capital, Abu Dhabi, offer – Prime urban infrastructure, safety, tolerance, and sustainability.
The executives commented that Damac has already been to Brazil on other occasions and knows that the investment potential of clients in Brazil and Latin America deserves to be explored. The executives also commented the UAE market is prepared to meet the demands of foreign investors, who are already the vast majority of real estate buyers there. The Emirati public, they said, represents a small portion of buyers, as the country’s population is mainly made up of foreigners.
Damac executives highlighted the benefits of investing in the country – low interest rate, no tax on property income, ease of obtaining residence visas, and flexibility in financing conditions. “Our countries already have a friendly and consolidated relationship, but we think there are opportunities for their citizens to become even closer,” said the executive.
Translated by Elúsio Brasileiro
