Pegasus Realty records AED 300 million property deals in Dubai

Announcing the details of the property deals the company has conducted in the short span of time, Mr. Imtiaz Panjwani, Managing Director, Pegasus Realty LLC, said that the property market in Dubai is very dynamic with a robust demand scenario and the company continues to get many inquiries from potential investors from the UAE, the GCC and abroad.

'We have successfully sold some 220 properties since our inception to a mix of investors from the local, regional and overseas markets. We believe that the exponential sales growth we have recorded, since our inception, in this market is an endorsement of our first-of-its-kind value proposition to investors,' Mr. Panjwani said.

He said the boom in Dubai's real estate market, particularly triggered by freehold ownership, is continuing and new investors are thronging the market. 'Dubai being a cosmopolitan city which is safe and has sound infrastructure is attracting the attention of investors across the spectrum. The eclectic mix of investors in the property market of Dubai also reflects the emirate's reputation as a friendly city with cutting-edge amenities,' he added.

The biggest transaction Pegasus Realty concluded during this period was for a penthouse in Dubai Marina valued at AED10.8 million.

'We have been able to serve the market better since Pegasus Realty has direct acquisition rights to an array of blue-chip properties thus enabling us to offer unprecedented competitive rates without burdening the investors with multiple layers of brokerage fees, which is a common feature in the property market now,' he said

The corporate positioning of Pegasus - 'Converting Dreams to Reality'- envisages offering investors a one-stop-shop for straight-up deals. 'Our strategy is to offer investors a transparent one-to-one deal and obviate the need for potential property customers to go through multiple brokers and end up acquiring properties at unrealistic prices,' Mr. Panjawani said.

Pegasus Realty LLC owns properties in leading real estate communities like Emaar, Nakheel and Jumeirah Beach Residence, apart from most private developments within these communities.

Apart from the property portfolio owned by Pegasus Realty LLC, the company can also directly acquire a new property straight from the developer at competitive rates if a potential investor needs, thanks to its reputation in the market place.

The real estate company also has also its own sister brokerage company through which the investments are routed. 'We make sure that the acquisition of a property through Pegasus Realty LLC is a hassle-free exercise. Our business model rests on single layer transaction so that investors are not confused during the property acquisition process,' Mr. Panjwani said.