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At a recently-held industry conference in Cyprus, Lynne Akkawi, CEO of Prime Owner’s Association Management, discussed the growth of Dubai's real estate and the role played by the Government in advancing it
April 04, 2024 | Megha S Anthony | Cyprus | Community Management
The world of real estate is ever-evolving, shaped by dynamic market trends, technological advancements, and regulatory landscapes. The 18th Real Estate & Construction Conference & Exhibition was held recently in Cyprus, which witnessed participation from influential professionals in Cyprus. These included Government officials, representatives from the Bank of Cyprus, and leading developers, who came together to gain insights about the growing real estate industry.
Among the distinguished speakers, Lynne Akkawi, CEO of Prime Owner’s Association Management, delivered a thought-provoking presentation titled ‘The Evolution of the Real Estate Market in Dubai and the Role of Government of Dubai in Supporting the Growth’. This discourse shed light on Dubai's notable journey and unveiled essential lessons that transcend geographical boundaries.
Dubai's rise in the real estate realm underscores the importance of collaborative efforts between the government and the private sector. Through strategic regulations and legislations, the Dubai government has fostered an environment conducive to investment and innovation. “Collaboration has been pivotal to Dubai's real estate achievements,” emphasized Lynne. This partnership has not only bolstered investor confidence but has also streamlined project execution seamlessly.
Lynne highlighted initiatives such as Mollak, Oqood, the under-developmental portal, and Dubai Rest, an application for real estate owners, tenants and investors, and the rental index, alongside advancements in blockchain and data management, which have transformed industry practices.
At the core of Dubai's real estate narrative lies a commitment to technological advancement. Lynne highlighted initiatives such as Mollak, Oqood, the under-developmental portal, and Dubai Rest, an application for real estate owners, tenants and investors, and the rental index, alongside advancements in blockchain and data management, which have transformed industry practices. These technological innovations have streamlined processes and enhanced transparency and accountability, essential for sustainable growth.
A notable aspect of Lynne's discourse was the steadfast support extended by the Dubai government to industry professionals. Mandated training courses and certifications ensure stakeholders are equipped with updated knowledge and skills. Additionally, robust legal frameworks and regulatory support provide a stable foundation for professional growth amidst competition.
Lynne Akkawi's insights resonate with industry practitioners globally, offering guiding principles amidst real estate complexities. As the Land, Development, Design, and Building Construction Conference and Expo concludes, Dubai's real estate triumphs serve as a beacon of inspiration, urging industry players to strive for excellence and innovation.
