São Paulo – Dubai-based management company Provident Real Estate is seeking Brazilian clients for properties in the emirate. In April its CEO Loai Al Fakir will be in Brazil with executives of the company to present opportunities in seminars for investors interested in protecting their estate with properties overseas and firms that contemplates the Middle East in their internationalization strategies.
The information was disclosed by the press office of the Arab Brazilian Chamber of Commerce (ABCC), which is holding a series of seminars for firms in Brazil. They’ll kick off on the 10th in São Paulo with an event for individuals and firms at the headquarters of the institution. On the 12th, the delegation goes to Belo Horizonte, seeking connections, particularly with coffee growers that already have trade ties in Dubai. The series of events ends on the 14th in Balneário Camboriú, Santa Catarina, with a seminar for upscale property investors.
The mission aims to connect Provident with Brazilian real estate firms. “Besides the regional events, there’ll be time to discuss specific opportunities for investors and real estate firms that contemplate acquiring, investing or brokering real estate deals in the emirate,” Karen Mizuta, head of international consulting of the ABCC, was quoted as saying in the statement.
In the past 50 years, Dubai went from a small pearl fisher community in the Gulf to a powerful oil exporting hub that has used its income from the fossil fuel to diversify its economy. With investments in the urban, commercial, industrial, logistics and tourist infrastructure in recent years, Dubai has been established as the leading economic hub in the Middle East as well as popular international destination.
Furthermore, the local government has created incentives for foreign real estate investment by exempting real estate from taxes and granting residential visas of up to ten years to buyers of properties worth over USD 545,000 (AED 2 million). In 2021 these incentives helped the real estate market of Dubai see over 80,000 transactions worth of USD 80 billion, with 5% to 10% increases in the income of rent contracts from a year earlier.
This is the market where Provident started operating in 2008, with services related to rental, purchase, sale, management and financing of residential and business properties, mostly for foreign clients, featuring the option of remuneration via crypto assets. “Following the ABCC-Provident joint mission, we aspire to follow up on this partnership between Brazil and Dubai,” the real estate firm said in the statement about its willingness to add Brazilians to its customer base.
Translated by Guilherme Miranda
