The rise of real estate market in Dubai

Nitin Chopra, founder of Range International Property Investment, shares his thoughts on the increasing demand of investment in Dubai real estate market

Starting out in 2017, Nitin Chopra has come a long way in establishing Dubai-based RANGE International Property Investments as a leading player in the real estate brokerage space. Today, RANGE and its team of 100-plus employees, with over two decades of collective experience, knows the UAE market inside out but also boasts the expertise to include in its portfolio exclusive properties around the world. For Chopra, RANGE is not just a brokerage but a community, and every one of the company’s agents is a local who understands and is able to amplify the needs of the customers. So, whether you are looking to buy, sell or lease a property, RANGE’s dedicated team will be with you every step along the way.

Edited excerpts from the interview

What are the pros and cons of upgrading a real estate service module in Dubai?

Alongside the emirate becoming a major international hub in the last three decades, the real estate market in Dubai has evolved, and it continues to evolve. With experienced and quality players in the space, and with the latest technology available, there aren’t many challenges in upgrading services, whether the focus is on buying, selling or leasing. We at RANGE have well-informed professionals in the team with a solid grasp of the market, and this allows us to stay up-to-date with trends, and helps us work on enhancing our services. So, I don’t really see any disadvantages here, only advantages.

What are your projections for the real estate market in Dubai with the onset of Dubai's new real estate law?

The new law, which seeks to boost investment in the property market, will I feel act as a catalyst for the industry. As Covid-19 began to lose its sting, demand for residential properties was already picking up pace, and there has been an uptick in interest amongst global investors. So, the introduction of the new law, which will also push growth in real-estate investment funds, promises to be a win-win for real estate in Dubai.

If there is one aspect missing in the real estate market that you feel can make a difference, what would that be?

I don’t think the real estate market lacks for anything but what I would like to see happen is increased adoption of technology globally. This is already happening in Dubai, and the possibilities for India are limitless. It’s exciting to think of the potentially transformative role that tech can play—indeed, is already playing—in the property space in India. Because, smart technology helps every step of the way, right from a seller getting a property listed to a buyer investing in the same. It makes for a seamless experience, one with zero inconvenience.

What sets you apart from other players in the market?

We select only the best professionals to represent us, people who have a deep understanding of not just the local market but also of what’s trending in real estate internationally. Members of our team are aligned to our vision, and work hard to meet the requirements of our clients. Also, because the methodology we adopt is very detailed, and because we are unique in the brokerage space—not necessarily in what we offer but in the quality and scope of our offerings—people choose us over others. So, we’ll go out of our way to provide them the best service we possibly can. For, ultimately, our aim is to be seen as an all-in-one solution for anyone who wants to invest in real estate in Dubai.

What is your vision for Range, and are you planning to expand?

Since we began our journey in 2017, our growth has been extraordinary—for example, revenue from sales last year touched Dh1.5 billion. And with the property market picking up post Covid-19, we are hopeful we can sustain this momentum in growth. As for expansion plans, Range will continue to consolidate wherever we have a presence—in the UAE, Europe, India, Pakistan and parts of Asia—and gradually look to set up operations in other countries and continents and our in house mortgage team too will add to the expansion plan.