Why Dubai Islands Should Be Your Next Investment: Inside Imtiaz Developments’ Vision

Okay, so by now you know Dubai is the future of real estate investing, but who to trust? Which real estate developers are going to maximize your dollars? Well, that's what I've been on the hunt for you. As The Dubai Connect, I've been vetting the top tier developers that have a proven track record for investors. Today on this episode of The Dubai Connect podcast, I'm bringing one of the most prominent real estate developers in the UAE, Imtiaz. I'm your host of The Dubai Connect, GG Benitez, a certified international property specialist and a licensed realtor connecting global investors with prime real estate opportunities in Dubai's thriving market. Welcome back to a very informative and exciting episode of The Dubai Connect where we answer who Imtiaz is. They've been creating such a buzz here with Nicole, relationship expert management at Imtiaz. Thank you, Nicole, for joining us. Gigi, thank you very much for having me today. I'm super excited for today's podcast, for today's conversation. Let's do it. Let's do it. So how long have you been doing real estate, Nicole? I've been doing real estate for the last three years. Okay. Yeah, I've been doing real estate as a real estate agent. Now I'm working for the best developer, Imtiaz Developments. So in total, it's three years. What made you decide to go from basically what I'm doing and to go in-house? What made that decision for you? You mean from the real estate agency to developer? Yes. I just wanted to try different sides because for me, real estate has two sides, you know: being a real estate agent or working for a developer. So I was really curious how it is working for a developer and it's really cool. I really love it and there are some differences and I definitely prefer to work for the developer. Yes, I do. I'm always curious about that myself. You never tried? No. You have to come to Imtiaz. You know, part of what I'm trying to do, Nicole, is that two and a half years ago I came to Dubai for the first time and I saw what was happening with my own eyes. When I saw that, I realized Americans were missing out on the opportunities here. Because even though we all hear back in America what's going on, we see the numbers, it's a transparent real estate market, but there was a lack of a trustworthy connect to help walk them through how to buy Dubai real estate. I think one of the most important is who to buy with. You see so many advertisements now in the US. Now Americans are like the goal or target for Dubai real estate agents. But I want to vet through and I work with the DLD and I work with other top real estate agents. I work with mortgage finders to find out a lot of data so that I can take that data and make sure to guide my investors correctly. Imtiaz has established one of the strongest reputations. Typically I work, I like to promote and I like to work with government-backed developers for that safety factor. But Imtiaz really stands out. Can you share for those who don't know about Imtiaz more about the brand itself? Of course. So first of all, what's really important to understand about Imtiaz Developments for me personally is the strongest side of our company. We were established first as a construction company. So not many people understand that. They take us as a developer, but we do not just sell. We do everything by ourselves. Explain why that matters because that's an important point. It really matters because we have in-house construction, we have in-house designers. We have like every single person that is a part of a development is in-house. So we are able to control every step of our development and that's why we are on time. We are delivering really one of the highest qualities on the market and that's why I'm here today because you wouldn't invite a developer that is not standing out. Absolutely. In fact, there are a lot of developers that are now saying, you know, we'll even pay to be on the podcast. But with us, it's me asking you to come on, inviting you on. But I didn't realize that you started as a construction company and that now makes sense because like you just said, when you're controlling every aspect of it, then you control the quality and that matters, especially when you're in the desert. These are harsh conditions here. Quality matters, right? And the timely delivery, which means our investors' dollars are being used in an appropriate amount of time for them. Exactly. I think this is the most important point for your investors from America because when you invest with off-plan, it's a very uncomfortable investment because there is nothing. You're just buying like some pictures. Yes. Yeah. So with Imtiaz, when you're buying Imtiaz Developments, you can just be very, very comfortable with our delivery timeframe. We are always on time and I can tell you more. We're not just on time. We are delivering our projects prior to handover date. Fantastic. This is really great. This brings a lot of peace to our investors and our agents as well. You know what I also explain? You'll see some. I had some buyers in town right now and they said, "Oh, well, we can get into the market for a lot less than what you're presenting to us, money." And I said, "Listen, if my passion was just sales, I would sell you the cheapest product on the market and I'm not going to care because in 3 years..." You know, honestly, for me personally, I'm 51 years old. I already had a really successful career. Believe that you're really, thank you. So I started. I transitioned and reinvented myself doing this, not because I was chasing money, but because as a first generation Arab American, I'm so proud of what Dubai is doing and I want to really demystify Dubai through my eyes. Real estate is that vehicle that I'm using. Real estate is one of the best industries that's growing Dubai and making it on a global market. So for me, I'm not looking at just selling the cheapest product, getting my commission and walking out. I'm going to be with that client when they're ready to sell it, when they're ready to rent it out, when they're securing financing. If it's late, if it's on time. So therefore, it's important to make sure that they are investing with a developer that is reputable because the quality, the timeliness, and the brand, especially the brand reputation in this region, matters a lot more than it does when I'm selling in California, right. Right. In California, a lot of times we don't even know who the developer is when we're buying a property. But because of what you just said, it's off-plan. It's that trust factor. And then guess what? You bought it. Now what? Well, they better have a good reputation because when it comes time for me to help you sell it or rent it out and make your money for that project that you just bought, all of those things are going to count. One hundred percent. It's super great that you are taking care of your customers. So what I really liked about what you said is that your Arabic roots are bringing the reason behind what you're doing. This is so romantic. Thank you. Thank you. No, I really feel passionate about what I'm doing. It's so much bigger than just being a real estate agent. I don't even like to say that I'm a real estate agent. I like saying I'm a connector, hence The Dubai Connect. Actually, can you tell us a little bit, how many projects have you delivered already? As of now we delivered two projects, like three projects. But the first project was kind of, so three projects basically. We delivered Westwood in for Jumeirah, Westwood Grande in Jebel Ali, and our very first project were townhouses in Jebel Ali. But what's important to understand is that in 2025 and 2026, we're going to deliver 20 plus projects. It's going to be just incredible for Dubai. I can tell you more. We will be the very first developer that's going to hand over a project in Dubai Islands. Our project will be the first one in Dubai. You're going to be the first one. Well, that actually transitions to what I was going to ask you. Yeah, I prepared this. The foundation. Yeah. I was trying to find this word. We do. Why did Imtiaz because I believe you have a lot of plots in Dubai Islands. We do. We do. Why? Because we really believe in that location. I personally think that this is the best what can happen to investors today. Like I don't see any better opportunity for investors, not just in Dubai, but probably in the world because it's such a fantastic opportunity. Oh my God, I love Dubai Islands. Tell me more about why. Dubai, because, you know how old is the existing infrastructure of Dubai? I always ask this question and maybe somebody who's working with me they're like, oh, again she's asking this. But for me, it's such exciting information. Do you know? No. Like every single thing that we know as modern Dubai, every district, road, bridge, whatever it is, was built within 24 years. It's crazy what they've done. Within 24 years, every single person in this world, not just knows Dubai, everyone wants to come here. Everyone wants to get the piece of this pie. Dubai Islands is a waterfront community in Dubai. What else? What else? It's made up of five islands, right? Correct. Which ones do you have plots on? So it's five islands: Islands I, A, and B. They're the residential islands. Island A is a central island where we have all of our projects. Okay. So it's all on plot A. A. That's the residential one. And then tell me, can you give us any hints about what differentiates the different plots? Are some more inland, some on the sea itself? Of course I can talk non-stop about Dubai Islands. So Island A, it's the central island. It's going to be a residential mix of residential and commercial buildings. Island B is fully for Nile, who is a master developer. Nile is a master developer of Palm Jumeirah and everyone knows Palm Jumeirah. I actually had yesterday my first episode that I've been trying for two and a half years, but I had Nile also on and as the master developer on the podcast, so yes. Yes. So Nile knows how to create a fantastic waterfront infrastructure. So Island B, for Nile, they have village, townhouses. There will be some commercial, hotels, residential. Island C and D are entertainment islands. It's going to be two waterfront golf courses there and it's the only district that's going to have waterfront golf courses. Yeah. So it's a really, really exciting island. E is going to be a private island for mansions for super rich people. So it's going to be a really nice neighborhood to live in, to stay in, to rent an apartment, yes. This is a very quick breakdown of what's going to happen in Dubai Islands. And then the connectivity is another important feature. May you share a little bit about the Infinity Bridge and how connected it is. So the Infinity Bridge now is the only bridge that connects the city and Dubai Islands. Now RTA signed a contract for 786 million Dirhams to make a bridge that will connect Dubai Islands, Port Rashid, and the city. It's really important to understand like, because now we are doing this podcast for your American investors. So I just want to give a point that it's really important to understand that Dubai is the city of the future. When we talk about other cities and countries, all of those cities and countries have museums of history. Dubai has the only museum, and this museum of the future. So here we have to be able to see the future. Yes. Now we have only the Infinity Bridge, but in 2 years there will be another bridge that cost 800 million Dirhams. There will be another bridge that will connect Dubai Islands with the city. So it's going to be great connectivity. This bridge that is upcoming in two years will connect Dubai Islands and Downtown in 15 minutes. So it's an island, living beautiful community and still 15 minutes from the Burj Khalifa because everyone always wants to know. You know what you just said, Nicole? I don't know if you've seen my other podcasts or my Instagram, but I've been trying to hit home on this because the mentality and the mindset of someone that purchases from the United States is very different when you come to Dubai. You can't apply the same strategy. So when someone opens up their Google map and they may say, "Oh, no, it's too far away," and I said, "But you're making a decision based on what's right now." That's not the point of Dubai. Look at what happened in the past 24 years to your point, right? Exactly. But everything in Dubai is about the future. Of course, when you had that, we hit 5.8, 5.9 million, and the strategy is to hit 7 million population by the year 2040. You have to understand what the 2040 plan is. What is the D33 agenda? What is RTA up to? They're constantly making announcements about new metro lines, which is already the longest driverless metro in the world, by the way. The metro in Dubai is fantastic. You know, the different bridges that are being built, the amount of money that's being spent on the infrastructure to ease the traffic and to be able to handle the population expansion that's happening. But that is why also when I suggest an area, I want to make sure that area is in line with the Sheik's vision of the 2040 plan. We know Dubai Islands is a huge part of that. What would you say is the timeframe? If somebody were to invest in an off-plan project today in Dubai Islands before they can realize their capital appreciation? How long do you think before Dubai Islands? I believe there's a time limit, right on it? What can you tell us about that? Yeah, it's a great question because what makes this investment so unique and great is because now it's just the beginning. It's the starting point, and this is the best time to invest in Dubai because these investors are going to be the richest out of their investments because now it's the sand, but Nile has five years to complete Dubai Islands. So today you are investing when it's nothing and in five years you are enjoying the complete lifestyle. All existing waterfront communities in Dubai have doubled in price. More, maybe some more than doubled. Yes. This is the minimum. It's doubled. Every single waterfront community is a story of success. So Dubai Islands is another story of success. Today and five years later, it will be minimum doubled. And I mean, I've done videos on this, Nicole, where I've actually tracked and done a case study of, let's say, when we start all the way from Blue Waters to JBR to La Mer, of course Palm Jumeirah, and then we come to Maritime City, then Rashid Yachts Marina, and then we come to Dubai Islands. Absolutely. For an investor, the key component is to get in at early pricing, pre-construction pricing, because you're getting in significantly less. Then through an off-plan, which is what are your usual off-plan payment plans, by the way? Usually we offer 60 percent during construction, 40 percent. Yeah, we are offering very flexible payment. So that means that, and what's the construction period typically? Three years. Two years. Okay. So that means 60 percent will be paid at 0 percent interest rate through Imtiaz, but through an escrow account that's managed by the Dubai Land Department, so it's safe, right? And then at handover it's 40 percent, which right before handover is when a client could choose to sell. That's a sweet spot. Would you agree that that's a sweet spot for capital appreciation? Of course, this is the best time to sell. When the building is ready, when people can see it, can touch it, can feel it. This is the best time to resell. Let me actually ask you this again because I've asked everyone: When is the best time to sell a project to maximize capital appreciation? Yes. So basically the first wave where you can send your sell your property with a capital appreciation, it will be maybe half a year before the handover. It will be before the handover or after handover or after a year after the handover. So these are the best stages to sell your property because when the building is at the early stage of construction, then it's not the best time to sell. Definitely before handover. Yeah, I would say that right before handover or after handover time. And that is because that next wave is going to then be able to secure financing as well. Or the original buyer, right before handover, they are able, as a foreign investor, to secure financing or then come in with that remaining 40 percent and then enjoy their rental returns. Exactly. And for rental returns, what I like to do, Nicole, is when I present to my clients, I like to present basically three parameters. I want this property to have maximum capital appreciation opportunity. So I'm trying to get into not crowded, underdeveloped areas that are in line with the 2040 plan so that we have confidence of where it's going to go. Like you just said, waterfront. I mean, we know what waterfront does globally, but even more so here in Dubai. Second thing is that it's going to be a place for long-term rental returns, and of course when you are 10, 15 minutes from where people work in DIFC, in Business Bay, in downtown, to be able to have that lifestyle and all the amenities, which we can even get into about Dubai Islands. And then the power to also do short-term rentals because that's a lot of times max ROI, right. This is an island living with golf courses and hotels and resorts and malls and high-end shopping and high-end restaurants. I mean, if anyone's ever come to Palm Jumeirah, that's where you go hang out. That's where you go do your spa day. That's why if you're going to stay in a hotel, you stay there. And that's what this opportunity is. So for an investor, it's all three of those potential income sources: the capital appreciation, long-term, if you feel more comfortable locking it in, and short-term. Now, is Imtiaz just apartments or do you have other types of units that you offer? Yes. So for now, we're just selling apartments. We're just selling buildings, but we have great plans. I'm not going to reveal them because we're still working on it, but we definitely are going to become bigger and stronger and more popular. Yeah, we are unstoppable. I can see a lot of energy in our company and I really see a lot of things that I really appreciate. What these people do is really fantastic for me. I'm going to ask you a question and I want to challenge you on it. And I want to ask you this. What do you say to people that say there are too many one-bedrooms and apartments that are going to be handed over in 3 years? All right. So answering that question, you just told yourself that there is a 2040 program. There are lots of things that are mentioned and that the government wants to work on. One of those things is the population. It's going to be doubled. And if you are, like, you're in Dubai right now. Wherever we go, it's just so many people everywhere. Roads, restaurants, beach clubs, everywhere. We have so many people and a lot of people keep coming. So basically, we do not have enough keys to serve all of the people that are coming, will be coming, and so on. So because last year, like 200,000 trade licenses were opened. It's like how many businesses, new businesses, are coming into the city? How many new employees will be hired? So we are on a very right speed to launch projects, complete projects, hand over projects to be able to serve all of the people that are going to come in the future. So one-bedroom, studio, is two, three. Even when my clients are asking me, "What is the best investment? What should I invest? Studio?" I'm like, "Whatever you buy, it will be popular here. Whatever you buy." But with it, with the right developers, in the right area. Of course. And that is the thing. So to your point, I mean, I wanted to ask you because I posed this question to everybody, and it is the truth. If you just look at the numbers, just look at the amount of units that there are, the population trend, how much it's grown in the past 3 years, the trajectory, the amount of units that are going to be handed over. It's not enough to serve the growing population of people moving here. And then there's even the occupancy rates of the rentals here. I actually just had a guest on here to talk about that as well. Then take it another step. You're talking about waterfront, one of the most rare properties in Dubai. I want to say it was like 7 percent, and I don't know if you know the right number. Of Dubai's coastline is available for residential. I think that's what it is, that's freehold. I'll check myself on this. But when you are an investor, you're looking to get into an area that's growing, that's safe, that has potential, that has government regulations in place, and is rare. So even if there may be some pockets that I actually do think now are going to have maybe too many one-beds handed over in 3 years, in those pockets, not Dubai as a whole. This is why I'm positioning and hedging against that by presenting the most rare and scarce opportunities with the most well-known brands so that we differentiate ourselves when it comes time to sell or rent that property out. And that's what Imtiaz in Dubai Islands is really setting apart. Exactly. Like what I want to add to your point is that we do have lots of developers, lots of projects, but as you said, it's really important to go with the right developer. It's probably the most important decision you can make. What makes your returns high is the quality of your property at the end of the day. So yeah, we all want to get a good deal in terms of like the payment structure, money and stuff, but what makes it different at the time of handover is the quality. So you definitely need to go with the best developers on the market to be just confident in your future returns. So Nicole, what other differentiators does Imtiaz have as a developer? Yes. So the last point that I want to add up, because we already discussed our legacy, that we have in-house construction, that we're delivering highest quality, that we're always on time. But what makes investments with developments even better is that we are delivering fully furnished and fitted homes. Yeah. I just like we at Imtiaz Developments just take the fully furnished, fitted thing for granted. But it's such a huge relief for investors. Yes, especially if they're global investors that aren't coming here. Yeah. Exactly. You don't need to look on IKEA or somewhere else. We're delivering. Like the apartment is staged by professionals. They know how to use the space of the apartment. They know what couch, what colors, what lights to hang. So we are delivering beautiful, custom-designed interiors with furniture. All of your offers? Every single property. Most of my investors, they're most likely, even though they should come to Dubai, they're not coming to Dubai. So they're looking for that turnkey investment opportunity. And the fact that you are doing these with that 60/40 payment plan in these incredible areas. At the best prices. At the best prices, fully furnished. What, right now, Dubai Islands, what's the price per square foot to get into Dubai Islands? I don't believe, but we have a project and I'm like, I'm still asking the question myself, like, like, why we're selling at this price? Because for me, it's like, oh my God, this is the best what can happen. You can buy a one-bedroom apartment, 1,000 square feet. You have a private Jacuzzi on the terrace. It's fully furnished. It's fitted with mille appliances, stainless steel, and have everything. Like high, high, high-end: 1.9 million Dirhams home. Can you imagine that? 1.9 million Dirhams for that type of apartment in front of the park in Dubai Islands. Like we are offering crazy prices. Yeah. So this is the time to come to Dubai, habibi, with me. Come shop with Nicole and me. We're happy to help guide you. Thank you, Nicole. I am glad that you took the time. I know you're very busy. So thank you for taking the time to come share more with my investors about Imtiaz and about some of the upcoming projects that are coming up in Dubai Islands and what differentiates Imtiaz from other developers. So I appreciate your time. Thank you very much for inviting me. It was a really exciting conversation. I'm super happy to meet you in person and I'm looking forward to more conversations, deals, and business together. Inshallah. So I hope you enjoyed this episode. If you have any questions about Imtiaz, please be sure to reach out. We'll connect and answer any of those questions that you have. Until then, please make sure to like, subscribe, follow, and stay tuned for the next episode of The Dubai Connect and happy investing.