Latest news with #MohamadAbbas
The National
17-05-2025
- Business
- The National
Will Dubai's property boom ever end?
Many Dubai property investors are getting more selective about where to put their money, experts have said. The Covid-19 pandemic instigated a boom that has eased off with buyers now thinking long-term about amenities, location and proximity to transport, they said. The National spoke to developers, salespeople, agents and more on the sidelines of the 'game-changers 2.0 real estate summit' in Dubai on Friday to gauge how the red hot market was going. Firas Al Msaddi, chief executive of Fam Properties and event organiser, said the market was at an "all-time high" with strong demand for both the resale and off-plan market. But he said people were becoming more selective as more off-plan units came on-stream as many developers had come to the UAE on the back of the boom and not everyone was 'producing the best of the best'. 'Every property buyer, every investor, [and] every broker are very sensitive to the overall value that product offers,' he said 'People are really … digging and understanding and learning before making a decision,' he said. 'Even if the market cools down a bit because of the supply, this is only temporary – it's only a matter of time for the demand to catch up.' Mohamad Abbas, sales manager at Dubai Holding Real Estate, said he had been in the market for 12 years and couldn't see an end to the boom. 'Maybe it will be stable in a couple of years from now, but it will never go down,' he said. Mr Abbas said in the past quarter they had sold villas for hundreds of millions of dirhams and the ultra-luxury market was strong. At the other end of the market people who wanted to buy cheaper units were willing to move to remote locations but people from across the world were buying. "I can say the United Nations are buying with us,' he said. 'The whole market is buying with us.' The National earlier this week reported on the unforgiving property world, with one agent stating only about 20 per cent of agents are doing really well – a sobering note far removed from the glitz on Friday. Dubai's housing market surpassed annual sales of Dh500 billion ($136.1 billion) for the first time in 2024, with huge demand for villas, town houses and apartments. The surge is being driven by liberalised visa rules, safety and security, more infrastructure, increased companies setting up, lower interest rates and the unrelenting population increase in the emirate. Consultants ValuStrat said about 90,000 new residents arrived in Dubai in the first quarter of 2025. According to Dubai Statistics Centre, the population of the emirate on Friday stood at 3.94 million. Top performing areas in Dubai include Jumeirah Village Circle, Business Bay, Dubai Hills Estate, Dubai South and Motor City. But what is more difficult to assess away from the headlines of lavish launches and unending booms is when the property market is going to cool. The event on Friday was a sell-out, with 2,000 tickets sold and some even shelling out Dh30,000 for VIP seats at the front. It aimed to share the latest trends, rules and regulations for brokers and agents, in partnership with the Dubai Land Department. Artificial intelligence was prominent with a report by Fam Properties stating AI was encouraging more younger buyers into the market as they could access data more easily. But questions about the boom were front and centre. Manan Law, managing partner at Dubai-based mortgage firm, Equifirst, said the surge that started in 2020 had ended as the world was no longer emerging from the major global event that was Covid-19. He said that in these scenarios Dubai and the UAE has always prospered as a haven. But he cautioned people expecting 50 per cent returns from that era would be disappointed, as this was now down to between 10 per cent to 12 per cent. 'In 2020, you could have closed your eyes and bought anything. And it would have yielded you a good return,' he said. 'Now you have to start looking at who is the developer; what is the community; what are the amenities; and what is being built around.' Mr Law said people in their keenness to get on the property train were forgetting that property was a 'fixed illiquid asset and it takes time'. 'It is not a stock. You're not supposed to buy a property today and it'd be up 15 to 20 per cent in a year," he said. 'That's not how real estate works. it is a long-term investment.' Mr Law confirmed the market was maturing and mortgages accounted for 40 per cent of sales in Dubai with lower interest rates helping. "To make the investor feel more comfortable, there's more and more heavier lean towards financing,' he said. 'It's just the normal progression.'
Khaleej Times
03-04-2025
- Business
- Khaleej Times
Fintech and financial literacy hold the future of payments
The way we manage money is evolving at an unprecedented pace. Fintech — the fusion of finance and technology — has transformed everything from everyday transactions to complex investment strategies. In the UAE, this digital revolution is not just a convenience; it's a key pillar of economic diversification, positioning the country as a global hub for financial innovation. Yet, as the digital finance ecosystem grows, so does the need for financial literacy. Consumers and businesses alike must navigate an intricate web of online transactions, cybersecurity challenges, and evolving regulations. Financial influencers and digital platforms have stepped in to bridge the knowledge gap, but their credibility remains a concern in an era of rampant misinformation. As digital finance gains traction, financial influencers and digital payment platforms play a crucial role in shaping consumer behaviour and financial literacy. These influencers, leveraging social media and digital platforms, provide insights into budgeting, investments, and financial planning. However, with the increasing reliance on online financial advice, concerns about credibility and regulatory oversight have emerged. But as digital finance gains momentum, financial literacy is more critical than ever. Consumers and businesses must navigate an evolving landscape of digital payments, online transactions, and security threats. Companies in the UAE are stepping up, ensuring not only seamless financial transactions but also greater financial awareness and security. Amidst this financial revolution, companies like PayTabs UAE are at the forefront of digital payment solutions. Recognised as a Future 100 Company by the UAE Ministry of Economy and the Office of Government Development and the Future, PayTabs has established itself as a leader in secure, seamless, and innovative payment experiences. The company's full-stack payment orchestration platform caters to businesses of all sizes, ensuring efficiency, security, and transparency. By integrating cutting-edge technology with a commitment to financial education, PayTabs is not only driving the fintech landscape but also contributing to digital financial literacy in the UAE. Empowering Businesses with Seamless and Secure Payment Solutions Recognised as a Future 100 company by the UAE Ministry of Economy and the Office of Government Development and the Future, PayTabs UAE has emerged as a fintech trailblazer. The company's full-stack payment orchestration platform is designed for businesses of all sizes, ensuring efficiency, security, and transparency. But PayTabs isn't just about transactions — it's about empowerment. While talking to BTR, Mohamad Abbas, Chief Sales and Operations Officer at PayTabs Group, said, 'At PayTabs, we believe fintech is more than just technology — it's about accessibility, security, and education. Our mission is to simplify digital transactions while ensuring businesses and consumers operate within a secure financial ecosystem.' Through its cutting-edge platform, PayTabs enables SMEs, large enterprises, and government entities to craft independent, compliant payment solutions. Built-in compliance measures, transaction monitoring, and fraud prevention tools provide a robust safety net, allowing businesses to operate with confidence. Bridging the Financial Literacy Gap Understanding financial technology is just as crucial as using it. PayTabs invests heavily in financial literacy, offering online educational resources that cover secure payment practices, fraud detection, and emerging fintech trends. By simplifying complex payment systems, the company empowers businesses and individuals to engage with digital finance confidently and securely. Security, Transparency in Digital Transactions With the rise of digital financial education comes a heightened need for transaction security. PayTabs employs advanced fraud detection systems, AI-driven monitoring, and encryption protocols to safeguard transactions from cyber threats. PCI DSS compliance ensures that sensitive financial data remains protected, significantly reducing fraud risks. 'Security and transparency are at the core of our operations,' Abbas emphasises. 'We provide real-time transaction tracking, detailed financial reports, and secure settlement processes, allowing merchants to maintain full control over their financial operations.' Beyond technology, PayTabs educates businesses and consumers on cybersecurity best practices, fraud prevention, and chargeback mitigation — reinforcing trust in the UAE's fintech ecosystem. Monetising the Digital Economy The rise of e-commerce and content creation has opened new doors for SMEs, startups, and financial educators looking to monetise their expertise. The company facilitates this transition by offering multiple payment channels, including e-commerce websites, mobile apps, and social media platforms. Through tools like payment links, Reels Pay, and QR code-based transactions, freelancers, influencers, and educators can seamlessly convert engagement into revenue. The company's PayTabs Outreach Programme further supports small businesses and content creators by amplifying their reach, showcasing their success stories, and fostering community-driven growth. Combating Fraud, Digital Misinformation As digital transactions become the norm, fraud and misinformation pose significant challenges. PayTabs is taking a proactive stance, integrating AI-powered fraud prevention, tokenisation, two-factor authentication, and risk-based authentication to combat unauthorised transactions. 'Our multi-layered fraud prevention system analyses transaction patterns in real-time, flagging suspicious activities before they escalate,' Abbas explains. Additionally, PayTabs collaborates with UAE financial regulators to align its security measures with evolving compliance requirements. The Future of Fintech in the region The UAE is rapidly moving toward a cashless economy, with fintech innovations playing a critical role in this transformation. Beyond traditional e-commerce, payment processing is now integrated into ride-hailing services, smart city infrastructure, and mega-events like Expo Dubai. Looking ahead, Abbas predicts major advancements in open banking, real-time payments, and AI-driven fraud prevention, all of which will enhance business operations and consumer experiences. 'The UAE's fintech landscape is growing stronger, supported by government initiatives like the Future 100 initiative. By fostering innovation and ensuring regulatory oversight, the country is solidifying its position as a global fintech powerhouse.' Paving the Way for a Secure Digital Economy As fintech continues to reshape the UAE's financial landscape, companies like PayTabs are instrumental by integrating technological advancements with financial literacy initiatives, PayTabs is not just driving fintech evolution — it's helping build a resilient and informed digital economy. The challenge ahead? Ensuring that financial advice remains credible and digital transactions stay secure. With the right strategies and innovations, the future of fintech in the UAE is set to be more inclusive, transparent, and technologically advanced than ever before. As fintech continues to reshape the UAE's financial landscape, companies like PayTabs play a crucial role in ensuring digital transactions remain seamless, secure, and accessible. With a commitment to technological innovation, financial literacy, and regulatory compliance, PayTabs is not only driving fintech advancements but also building a resilient digital economy. As digital financial education and financial influencers gain prominence, the key challenge remains -ensuring that financial advice and digital transactions are both reliable and secure. The future of fintech in the UAE is bright, and with the right strategies, it will pave the way for a more inclusive and innovative financial ecosystem.
Zawya
03-03-2025
- Business
- Zawya
PayTabs honored as a Future 100 company
The Future 100 List, a national initiative launched by the UAE Ministry of Economy in partnership with the Minister of State for Government Development and the Future, honors enterprises driving innovation and shaping the economy of the United Arab Emirates Dubai: PayTabs Group, MENA's award-winning payment infrastructure and orchestration powerhouse today announced it has been recognized as a Future 100 Company. The accolade was made at a distinguished event held at the St. Regis Saadiyat, Abu Dhabi in the presence of the honorable Minister of State for Entrepreneurship from the UAE Ministry of Economy and the honorable UAE Minister of State for Government Development and the Future. The Future 100 List, a national initiative launched by the UAE Ministry of Economy in partnership with the Minister of State for Government Development and the Future, honors the top 100 enterprises driving innovation and shaping the future economy of the United Arab Emirates. PayTabs was selected from hundreds of shortlisted businesses for its pioneering contributions to digital payments, payment infrastructure, financial inclusion and financial technology across the United Arab Emirates. Mohamad Abbas, Chief Sales and Operations Officer, who attended the felicitation ceremony and collected the award on behalf of the PayTabs Group said, 'We are honored to be recognized among the UAE's most forward-thinking enterprises. This award reaffirms our commitment to powering digital transactions that support businesses, elevates customer experiences and empowers digital economies in United Arab Emirates and across the region. We are thankful to the UAE government for continuing to promote and encourage the development of fintech and innovation'. The Future 100 program highlights high-growth companies across key sectors, reinforcing the UAE's vision for economic diversification and technological advancement. Deployed across the region, including the UAE, PayTabs full stack orchestration platform allows businesses multiple layers of customization to become fully independent payment platforms, with their own design and branding. Using ready-made, compliant technology, it's a fully managed payment solution, including onboarding, transaction monitoring, and reporting, tailored to specific business needs. All engagement models offer flexibility and cost savings to businesses. In October 2024, PayTabs Group became the first in Arab World to be recognized as a top 100 Global Fintech Company, delivering payment orchestration technology designed and built in the region to the global fintech arena. About PayTabs PayTabs is a payments infrastructure company providing exceptional solutions that are simple, secure, and scalable to drive local commerce and power financial inclusion across the region. It was founded by Saudi entrepreneur Abdulaziz Al Jouf in 2014, with a vision to power every digital transaction in the region. Today PayTabs processes transactions in multiple currencies and markets, swiftly and securely. By providing the infrastructure for B2B payment solutions, including digital invoicing for businesses, QR code, social media payments, point of sale and switching platforms, PayTabs facilitates seamless e-commerce and social commerce solutions for merchants, super merchants and governments. For over a decade, PayTabs has custom built and exported a full stack of game changing solutions. These include mobile applications, hospitality, governmental, education, airline, travel, transport, and biller solutions, to interlink the multi-billion-dollar enterprise market chain in the region. In 2021, PayTabs launched PT Touch, (MEPS FAST in Jordan) the first soft POS solution in the MENA market to transform smart phones into merchant point of sale terminals. In 2022, PayTabs made a leapfrog move by launching its home owned, globally validated unified payments and orchestration platform. PayTabs unified payment processing orchestration enables governments and large-scale originations to become independent payment platforms to serve their industries. In 2022, the company acquired social commerce platform Paymes to complement its existing retail portfolio. In early 2023, PayTabs received payment gateway certification from Saudi Payments and was later awarded MENA's Best Merchant Solution and the glowing recognition of Fintech Company of the year. In October 2024, PayTabs became the first in Arab World to be recognized as a top 100 Global Fintech Company, delivering payment technology designed and built in Saudi Arabia to the global fintech arena. PayTabs has dedicated offices in KSA and UAE and presence in other locales including Jordan, and Egypt. The company is an equal opportunities employer. More milestones on:
