On March 6 I had the distinct pleasure of traveling across two oceans to speak at the largest gathering of business leaders in the world. I was one of the key speakers at the World CEO Forum in Dubai, United Arab Emirates. The forum itself was an impressive gathering of more than 400 international business leaders.
But what impressed me the most about this event was that it felt like a glimpse into the future.
Many of the business leaders I met came to Dubai for one thing -- to form new business relationships with companies around the world. This goal was enriched by the fact that Dubai is becoming a symbol of building new global relationships between the East and West. The opportunities for growth in this region are astounding.
Some facts about Dubai may surprise you. For instance, there are more shopping malls per capita in Dubai than anywhere else in the world. It is estimated that 25 percent of all the world's construction cranes are in Dubai. By November 2008, developers expect to finish creating the world's tallest building, a 160-story behemoth called Burj Dubai.
Exciting changes are taking place there every day -- and this appears to be just the beginning.
The luxury real estate market is quickly turning red hot in Dubai as local brokers and firms begin to use the Internet to market their properties to a worldwide audience. The Internet is by far the fastest and most cost-efficient tool in a broker's arsenal to effectively buy and sell homes.
Recognizing the vastly untapped opportunities awaiting us in the Middle East, my team of Web developers recently launched a new division of our website. This new website includes an interactive map of the Middle East and Egypt, a profile of each affiliate and a luxury property search with photos, virtual tours, maps, floor plans and a detailed property description.
Our new division went online on January 21 and we have already built partnerships with developers in the region like Palisades, Pearl Projects, ETA Star and First Qatar Real Estate. We have also added two real estate brokerage firms to our worldwide network, known as Who's Who in Luxury Real Estate. These two firms are Safa Homes Real Estate Management LLC and Luxury City Real Estate.
Safa Homes Real Estate Management LLC serves clients in Dubai and Abu Dhabi, and it is growing steadily, with a focus on buying, selling and marketing luxury homes. Luxury City Real Estate is already well established as a trustworthy name in real estate brokering with an impressive array of international and local real estate contacts in Dubai.
One of our partners, Pearl Properties, is the managing company for the visionary Palisades project in Dubai. This project, established more than a year ago by HH Sheikh Issa bin Zayed Al Nahyan, is a collaboration of residential, commercial and retail sectors. This project promises to deliver space for more than 55,000 residents, including park land, a hotel, school and hospital or other health care center. Construction on the project broke ground in December 2006.
In the next few years you will be hearing more about luxury homes for sale in Dubai and in other areas in the Middle East. Internet marketing is opening new doors into these markets, and I'm excited to be part of history in the making.