Latest news with #RohitBachani
Hi Dubai
15-05-2025
- Business
- Hi Dubai
Survey Reveals 79% of Women in the UAE See Real Estate as a Key Investment, Yet Remain Cautious
A new survey has revealed that while 79 per cent of women in the UAE recognise the benefits of property investment, the majority have yet to take the plunge — largely due to limited access to mentorship, investment platforms, and clear guidance. The findings, released at the launch of a new initiative by UK-based property firm Joseph Mews, highlight growing demand among women for resources that enable long-term financial security through real estate. The survey found that 62.5 per cent of female respondents cited lack of access to mentorship and platforms as a key barrier to investing. Remarkably, 100 per cent agreed that real estate investment is essential for building long-term wealth. Johnny Conran, Managing Partner at Joseph Mews, noted the firm's mission to close this gap by offering tailored education and access to prime UK property opportunities. 'We believe wealth is built through clarity, confidence, and long-term strategy,' he said. Complementing these efforts, Merlin Real Estate has introduced peer-based mentorship networks, matching female clients with experienced investors to build trust and confidence. 'Once they get confident, they not only invest but also become our referral partners,' said co-founder Rohit Bachani. Despite a growing sense of independence — with 67 per cent of women saying they feel confident making investment decisions — 46 per cent still do not understand the difference between income-generating and capital-growth properties. In a broader push for inclusion, real estate companies in the region are also nurturing future female leaders. Property Finder's SheForShe programme, now in its third edition, offers mentorship, e-learning, and workshops designed to advance women's careers in the sector. The message is clear: while interest is high, access and education remain critical to empowering women in the UAE's real estate landscape. News Source: Khaleej Times
Khaleej Times
26-01-2025
- Business
- Khaleej Times
UAE: Property buyers to pay higher upfront as banks stop financing DLD, brokerage fees
Property buyers opting for a mortgage will have to shell out the Dubai Land Department (DLD) fee and brokerage fee as part of their upfront fee from next week. Real estate industry executives said that banks were previously financing DLD's four per cent fee and brokers' two per cent fee as part of the total mortgage. "Starting February 1, 2025, UAE banks will no longer finance the four per cent Dubai Land Department (DLD) fees and the two per cent brokerage commission for property buyers seeking mortgages,' said Rohit Bachani, co-founder of Merlin Real Estate. Bachani added that in most mature markets like the UK and USA, banks typically don't fund these fees and only mortgage fixed assets. 'This change is a step towards aligning with international standards. Although there might be an initial hiccup, the market will eventually accept the new standard, and there will be no long-term effect on the mortgage borrowing process. In fact, considering the booming market, it is expected to continue growing,' he said. Farooq Syed, CEO of Springfield Properties, said banks will not allow mortgage DLD and brokerage fees from next week. How will it impact off-plan properties Syed added that this latest move will make off-plan more attractive now because buyers need more money in order to buy secondary market property, especially if they're taking a mortgage. 'Developers coming up with long payment plans will be more attractive options because buyers will need less money upfront. A property buyer will need six per cent extra, which is a lot. More people will opt for off-plan and primary properties as they will have lower down payments and less barriers to entry,' he added. Springfield Properties' CEO expects this will cause a little bit of downward pressure on prices which is required to stabilise and keep the market good. 'This is a move from the government so that the market does not overheat. It is an important step to keep the prices under control,' said Syed. Rohit Bachani added that this decision might initially impact the market as buyers will need to cover these costs upfront, leading to a higher initial payment. 'For instance, on a one Dh1 million deal, this means an additional Dh60,000 down payment,' he added. ALSO READ: Dubai allows property owners on Sheikh Zayed Road, Al Jaddaf to convert to freehold ownership
