Billions of one of the largest buildings in the UAE are secretly taking over the company he founded, claiming that housing and construction in Dubai tycoon will survive.

“It’s amazing,” Damac Properties founder Hussain Dubai tycoon Sajwan said on Monday when asked to describe the recovery in Dubai real estate as it has grown after years of prices and inflation.

“I’ve seen Dubai for the last 20 years, and it’s been there,” said Sajwani, a branch hero known for his strong marketing and budget-based development based on the Dubai tycoon image.

“I don’t think it’s a temporary thing. It’s a long-term thing,” said the seller.

According to S&P Global Platts, property prices in Dubai tycoon have skyrocketed due to rising demand, improved market value and consumer spending, rising oil and gas prices, and falling prices.

According to the Dubai Foreign Ministry, the third quarter of Dubai’s history has been the best in real estate transactions. According to the institute, the highest value of property sales in September was a month after December 2013, when Dubai blocked the key, increased vaccinations, and planned projects. The media attracted people to the plan.

While many countries have returned the keys and banned travel last year, Dubai tycoon has even stalled between neighboring emirates, allowing free travel to other destinations. It has also revived trade and visa rules and introduced a large number of digital numbers after falling by more than 8% by 2020 as a result of the epidemic.

It is currently hosting a mega-event, Expo 2020, which is already visited by hundreds of thousands. Dubai has also hosted major events such as the IDEX Security Conference and Gitex Technology Conference, several concerts and sports competitions, and the Dubai Air Show Conference and ADIPEC Energy Conference in November.

Sajwani said people who came to Dubai during the exile had access to safety, health, vaccinations, and security, which made the city an attractive place to cultivate. “Dubai succeeds in this vision,” Sajwani added.

Dubai employers have also experienced strong market growth. Many young professionals have put ads in search of dormitories and are leaving their homes because they say homeowners are raising rents by 30-50%.

Sound change

Sajwan’s statements are a big change in the current values of adults in the market. In 2019, he put forward headlines calling for construction to be halted and warned that Dubai would face disaster if congestion continued.

Analysts at S&P Global Ratings, which set Damac’s negative rating, believe Dubai tycoon is not just a piece of wood. “Expanding Dubai’s housing plan poses a long-term challenge to inflation, making the recovery riskier,” the group said in a study released in October.

But Sajwan didn’t care. He said Dubai’s best producers, including his longtime rival Emaar, are ripe and cautious about the epidemic. He said prices “could not rise” to the level they were 12 months ago.

Dubai’s Ministry of Economic Development expects 3.1 percent growth by 2021 due to the reopening and disruption of Expo 2020. It forecasts 3.4 percent economic growth by 2022.

Loss of plans

Sajwani has also given his views on his plan to remove Damac Properties from the Dubai tycoon stock market after several years of non-investment. Damac’s property losses in the first half of 2021 amounted to 291 million UAE dirhams ($ 79.2 million).

The company, controlled by Sajwan Maple Invest, offers 1.40 dirhams ($ 0.38) in the Damac security segment. Several investors rejected the first video of 1.30 dirhams.

“I think the 1.40 dirhams was a reasonable figure,” he said, rejecting investor criticism that Damac was kept secret because the Dubai market showed signs of recovery.

“We saw the need for the company to move to the private sector as it grows internationally, but there are risks,” Sajwani explained, adding that annual profits he was taxed on.

“Your competitors know all your information, all your information, all your profits, everything you sell … and in a competitive market, an oppressor is working against you,” he said.

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