Revolutionising Community Management in the UAE

Hamdan Al Kaitoob, Vice President and Head of Property & Community Management at Deyaar Development PJSC, shares insights on the future of community management in the UAE

A seasoned professional with extensive experience in real estate, asset and community management, Hamdan Al Kaitoob has made impactful contributions to the UAE’s skyrocketing real estate and business landscape. His impressive career spans notable positions across both the public and private sectors, including roles at Al-Futtaim, the Ministry of Human Resources and Emiratisation, Dubai Airport Freezone Authority, and Emirates. Currently serving as the Vice President and Head of Property & Community Management at Deyaar Development PJSC, he leads key operational and strategic initiatives that drive innovation and efficiency in property management. In addition to his role at Deyaar, Hamdan is an active Board Member at Central Park Towers in DIFC, where he provides strategic guidance and leadership.

In a recent interview with REM TIMES, Hamdan shares his insights on the current trends driving Dubai's real estate market and the future of community management in the UAE. He discusses the evolving dynamics of both the residential and commercial sectors, emphasizing the role of government initiatives, technological advancements, and economic growth in shaping the city’s real estate landscape.

Q. What are the current trends driving Dubai's real estate market, particularly in the residential and commercial sectors?  

There are several trends playing an important role in shaping the city’s residential and commercial property markets. Some of these are - 

• Government Initiatives: The UAE government has been proactive in creating a conducive environment for real estate investment. Initiatives like long-term residency visas, initiatives to attract foreign talent, and the easing of ownership laws for expatriates are significant driving forces. These measures not only boost investor confidence but also enhance the overall appeal of Dubai as a global city.
• Safety and Security: Dubai's reputation as one of the safest cities in the world contributes to its attractiveness for residents and investors alike, leading to sustained demand in both residential and commercial sectors.
• Investment in Infrastructure: Continuous investments in infrastructure, such as transportation networks (metro expansions, new roads) and public facilities, enhance the livability of Dubai. This infrastructure development is crucial for supporting the growing population and business activities, further driving demand for real estate.
• Technological Advancements: The integration of technology in real estate, from virtual tours to blockchain for transactions, has transformed how properties are marketed and sold. This innovation not only streamlines processes but also enhances transparency and trust in transactions.
• Economic Stability and Growth: Dubai's resilient economy, bolstered by diversification efforts away from oil dependency, has positioned it as a favorable destination for real estate investment. The positive economic outlook and growth in various sectors encourage both local and international investors.
• High Investment Yields: With yields in Dubai ranging from 6-8%, significantly higher than the global average of 3-5%, the market remains attractive for those seeking better returns. This, coupled with the potential for capital appreciation, makes Dubai a lucrative option for investors.

1. With the rise of smart homes and tech-driven community management systems, how do you see technology shaping the future of community management in Dubai?

Technology is set to revolutionise community management in Dubai significantly. For instance, the rise of smart homes is a game changer. With IoT devices integrated into residential units, residents will have the ability to control various aspects of their homes remotely, such as lighting, temperature, and even appliances. This not only enhances convenience but also promotes energy efficiency.

Furthermore, tech-driven community management systems will provide real-time data on various aspects of community living—from security concerns to the utilization of shared facilities. This data can help managers anticipate maintenance needs and enhance service delivery. As sustainability becomes a key focus, technology will play a pivotal role in implementing green initiatives, such as solar energy systems and efficient waste management solutions, which can lead to significant savings for communities.

Our community management business is focused on ensuring that we implement the best sustainability practices, which directly impact costs and enhance profitability for investors. We prioritise maintaining communities in a manner that drives up capital appreciation for our clients.

Hamdan Al Kaitoob, Vice President and Head of Property & Community Management at Deyaar Development PJSC

Q. In such a competitive market, what do you believe sets your company apart when working with corporate clients and institutional investors?

What truly sets us apart is our continuous commitment to creating long-term value for our customers and investors. Our community management business is focused on ensuring that we implement the best sustainability practices, which directly impact costs and enhance profitability for investors. We prioritise maintaining communities in a manner that drives up capital appreciation for our clients.

Additionally, we emphasise transparency and integrity in all our dealings with partners and investors. Our commitment to building long-term relationships and continuously developing and managing communities in Dubai and the UAE is a cornerstone of our approach.

Q. What are some of the most effective property management solutions you’ve implemented to optimise operational efficiency and tenant satisfaction?  

We have embraced digital solutions extensively. By providing both tenants and landlords with online access and portals, we streamline the handling of requests, making the process seamless for everyone involved. We are excited to announce the upcoming launch of a refreshed application for our community management customers, which will ensure that all necessary information is readily available.

Moreover, we are planning to introduce a new application for property management tenants across the UAE by Q1 2025. This technological advancement will significantly reduce the response time for service requests, thereby enhancing tenant satisfaction and operational efficiency.

Q. What is your outlook for the Dubai property market over the next three to five years, and which sectors do you believe will see the most growth?

Overall, I am optimistic about the Dubai property market over the next three to five years. We can expect steady growth driven by the factors we've discussed. The demand for luxury properties will persist, especially with the continued expansion of e-commerce and ongoing infrastructure developments.

I believe the residential, logistics, and hospitality sectors will see the most growth. There is a growing emphasis on affordable housing and sustainability, which aligns with global trends and local needs. Currently, demand is matching supply in the residential market, and while we anticipate more supply next year, I don’t foresee a drastic downturn in the market. Instead, I expect it will stabilise as it adjusts to the new dynamics.

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