Complex Made Simple

A number of steps to be observed while constructing new homes

Al Hammadi: It's time to stop wasting money and effort in real estate projects.

Mr. Ismail Al Hammadi, Founder and CEO of Al Ruwad project development consultant, stressed that the time has come to raise the real estate investment efficiency, promoting to the next stage of normal development, stopping the waste of time and money in terms of construction and development.

He pointed that the solution is available with the high frequency of the appearance of consulting firms in the field of project development.

He emphasized what is required is to make progress towards further improving the operational processes in all areas, in particular the real estate, to provide an attractive investment climate beyond the current borders and take advantage of the good reputation of the UAE in this vital sector.

He pointed that this can only be achieved by adopting a clear real estate policy, which is the work mainstay of project development consultant companies, preparing special studies projects and defining well their results in the context of the work strategies shed light on the real estate development opportunities available in such projects to achieve a sustainable investment for the benefit of entrepreneurs.

Al Hammadi paid attention to that supervising of the economic feasibility and marketing studies is also considered one of the first priorities of the project development consulting companies, as it has a pivotal role in reviewing the requirements of developing and obstacles, and a main function in the real estate investment, which is analyzing and evaluating the cost. He added that supervising is the basis for the creation of a clear vision of investment process dimensions, removing the all unpremeditated risks that may arise at any stage of the work

The supervision and follow-up stages of development and implementation is the real guarantee in real estate investing success and overcoming the obstacles, that means the project development consulting firms is home and winning paper for investors, so as to promote greater confidence in the sector.

Commenting on wasting time and money, Al Hammadi referred to the absence of a clear vision by young citizens while supervising of building their own homes from the outset,non-abiding by actual implementation schedules and designs that lead to delayed delivery and raise the cost to numbers not in account in most cases.

Defining a number of factors to be taken into account by young citizen who will construct their future home, Al Hammadi said: “It doesn’t matter to know what you want, as far as what is important to know about the mechanism to be followed to get to what you want. I often hear, by virtue of my experience in the local market, stopped or suspended construction projects, which mean the bills will rise to astronomical numbers don’t match with what was built on the ground. The source of all is the inability to determine the roadmap work from the outset, and the absence of knowledge of all the details and the inability to follow-up in presence.”

Al Hammadi appealed to young people to put studies achieving their goals during the deadline with reasonable cost, on the basis of a feasibility study achieved the required output. He also suggested referring to project development consulting firms due to its role in the preparation of a comprehensive strategy starting from selecting the best constructing plan suited to the requirements of each individual case,reasonable budget based on the chosen construction model and evaluation of the cost, choosing a professional consultant and UAE good-reputed contracting firm.

Al Hammadi pointed out the fundamental point in the work of the project development consulting companies is to supervise all workflow details within the project and to link all their details with schedule of payments in order to achieve balance and efficiency in the achievement, and prevent falling into any problematic with the developer or consultant may affect the final delivery dates.

“Young citizens have to stop wasting time and money during the process of construction of housing. They are before a national entitlement before it is a personal entitlement.Any delay or negligence on their part lead to delay housing grants to others waiting for impatiently.They also are required to create added value and raise the efficiency of disbursements to them under grants and loans approved by Sheikh Zayed Housing program and Mohammed bin Rashid Housing Establishments. “Al Hammadi said.

“With the announcement of Sheikh Zayed Housing program about adopting a recommendation to raise the residential grant loans category to be minimum 700 thousand dirhams, and with the amount allocated 11.5 billion dirhams to finance the construction of 27 thousand housing for citizens over the next five years, and the declaration of Mohammed Bin Rashid Establishment that loans portfolio amounted to 6 billion dirhams, the UAE citizen bears primarily a national responsibility towards activating the real value of the amounts granted on the ground through a strategy achieving the maximum benefit while building the house and caters the actual needs and the best prices in the time and cost specified, to give away for others to move forward in achieving the dreams of their future home.” He added.

Al Hammadi concluded that the need project development firms is to follow-up all the details starting from the idea, ending with implementation of all the set objectives,Stressing at the same time on the existence of efficient national companies, in this area, that can accurately see social, cultural and financial dimensions and others of the house for UAE citizen and make them facts on the ground.