Today, many companies are diversifying their activities, trying to cover a variety of market sectors. One of these firms is the REDS group of companies, which provides its services to both investors in the UAE and tourists visiting the UAE. The company is led by Svetlana and Julia Muravlev. We decided to address them with several questions that interest our readers. Svetlana, Julia, please tell us about your company.
Svetlana: Currently, the REDS group of companies consists of a real estate agency and a travel agency. The real estate agency has been operating since 2007 and offers an extensive portfolio of real estate for rent and purchase, thanks to regular updating of the client base. If you own property in Dubai and plan to rent it out or sell it, we invite you to place information about it in our database. When we take up work, we sometimes do it better than the rest. As the saying goes, "water does not flow under a lying stone," so we do not get tired to move forward.
Julia: The new direction of our activity was the opening of a travel company that has been successfully operating in the UAE domestic market since 2008. Today we try to keep up to date and meet the modern trends of rest, ensuring the safety of our guests during their stay in the Emirates and providing them with the best hotels for accommodation at the best prices. Therefore, increasing the quality of our services, we have opened a system for booking online and paying for our services through PayPal on our page on the Internet.
Svetlana, as a professional with many years of experience in the local real estate market, how would you rate his condition today?
Svetlana: I think that many people still have fresh memories of Dubai, when at the end of November 2009 the whole world was shocked by the news of the insolvency of the largest Arab investment fund, Dubai World. Of course, the consequences of the global crisis still make themselves felt not only in Dubai, but throughout the world, but today we can already trace the economic growth trend in the UAE quite accurately. Today, the real estate market in Dubai has undergone many changes, but it can be noted that the fall in property prices has slowed down, and now the time has come for a profitable investment.
Premium housing is in great demand among our customers, and, for example, the new The Fairmont Palm Residence complex, as well as Oceana and Tiara housing complexes are the most popular for renting and buying a home. Of course, the market situation has changed dramatically over the past two years: the construction of many projects has been suspended, and this, of course, is of concern to investors. I would like to reassure those who placed their funds in the UAE real estate a little, since now there are many different mechanisms for solving this problem, and we have helped many of our clients with appeals to the Real Estate Oversight Office (RERA) and preparation of lawsuits against unscrupulous developers. Some of our clients chose to exchange residential property in a suspended project for apartments in new buildings close to commissioning.
Julia, tell me how the UAE tourism market is developing today, and what services do you offer?
Julia: After a slight decline in tourist activity in 2009, from mid-2010 you can see its upward trend. Nowadays, the direction of family vacations has changed a lot, as modern families prefer to stay in private apartments by the sea, beautifully furnished and having all the conditions for a comfortable stay, which is especially important on vacation with young children. It is precisely because we successfully combine and coordinate the work of a real estate agency with the activities of our own travel agency, our clients can always choose the options for living to their taste. For more sophisticated clients who prefer privacy, we can offer short-term rental villas on the island of Palm Jumeirah.
For families and friends of our residents, we provide services for opening tourist and business visas to Kazakhstan, Russia and Ukraine, as well as accompany residents when opening visas to the Schengen zone, the UK and the USA. Our travel agency offers a full package of tourist services: from the opening of tourist visas to the UAE and the sale of airline tickets to any country in the world to the organization of various tours that meet the clients' budget and their wishes.
What are your prospects for the development of Dubai?
Julia: Today, more and more families come to Dubai to live, because moral principles, security, a wonderful climate and quality education are an integral part of local life. Therefore, now the most profitable moment has come for investment in the family, in the development and education of children, in their future. Dubai provides excellent educational opportunities at the most prestigious British and American schools, colleges and universities accredited in Dubai. After all, it’s wonderful when a child speaks excellent English, plays sports and art! Many of our friends and clients chose Dubai to stay, and we were pleased to help them with paperwork, choice of housing and opening their own companies, which give the right to receive a 3-year visa for UAE residents for the whole family.
Svetlana: First of all, people who want to invest in their family and children and buy property in Dubai can say with all responsibility that the UAE is a tax-free country that provides a simplified procedure for registering and obtaining property rights without legal complications. A buyer of real estate in Dubai pays only the state duty on the amount of the transaction, then no other real estate taxes, such as personal property tax, land tax or taxable income from renting real estate in the United Kingdom or the United States, are provided.
