Dubai’s real estate sector will remain stable in 2023 despite global economic headwinds, according to S&P analysts.
The international credit ratings specialists say growth will support strong cash flow, steady profitability, and improving credit metrics in a new report.
S&P Global Ratings credit analyst Tatjana Lescova said:
“Mounting economic pressures globally, including rising interest rates, inflation, and the devaluation of emerging currencies, may cool the demand for residential real estate. This will lead residential real estate prices to stabilise in 2023.”
“Nevertheless, we expect continued deleveraging and improving rating headroom for Dubai-based real estate companies in 2023.
“We also expect ample liquidity and limited funding needs. Plentiful cash flow leaves headroom for higher capital expenditure, dividends, or acquisitions”.
Real estate operators will benefit from rising footfall and a growing number of international visitors, but face the risk of reduced spending due to economic headwinds.
Rents will remain under pressure due to new supply.
Dubai’s GDP will expand by about 3% in 2023, with modest annual inflation of about 3%, according to S&P Global Ratings.
At the same time the population will grow by three to four per cent. Supportive oil prices will sustain positive investor sentiment in the GCC region, while international tourism will continue to recover from its 2020 trough.
Real estate developers’ revenue growth will mainly come from new and recent sales. Developers have good revenue visibility for the next couple of years, thanks to their robust revenue backlogs following strong presales in 2021-2022.
This column does not necessarily reflect the opinion of overwrite.ai and its owners.
Name any real estate agent on the planet who would turn down a brand new wardrobe full of tailor-made suits 👔🔥… We couldn’t either.
But it can become an expensive habit. And it doesn’t take a fashionista, or financial advisor, to tell you that blowing every commission cheque on a fancy new suit probably isn’t the wisest decision.
So, for the broker who wants to “look the part”, without breaking the bank, check out these Suit Shopping Hacks.
1. Size Matters
Suit sizing is actually pretty straightforward once you know what you need. Your jacket size is roughly equivalent to the diameter of your chest plus an inch or so of fabric so you can breathe. If your chest is 40 inches in diameter, then you’re probably going to be a 42 jacket size. If you’re in doubt you can always get measured for free at any department store.
Trouser waists are pretty easy. Just a case of wrapping a tape measure around your waist. When it comes to length there’s only 3 options. “R” for regular, “S” for short, and “L” for long. Unless you’re unusually short or tall, chances are an “R” will fit fine.
2. The Last Drop
Now that you know your jacket size and waist size, you need to learn what a “drop” is. This is especially important if you’re ordering your suit online, so you know what size trousers your new suit will come with. The drop is just the difference in size between the jacket and the trousers. For example, if a suit is a 40R drop six, that means the jacket is size 40, and the trousers are 6 inches smaller, so a 34 inch waist.
3. A Cut Above
This might take some time, but before you can confidently shop online for a suit, you need to learn how different designers size their suits off the rails. For example, some suit brands are notoriously roomy. Others are cut just right, and more fashion forward Italian suits might be cut super tight. That means you could be an entirely different jacket size in one shop to another.
4. Love Thy Tailor
A good tailor can make even a suit that’s been picked from the rails, look like it was made-to-measure. A few alterations here and there can go a long way. Befriend the tailor in your local community and see what his limits are for alterations. Soon that oversized jacket will be fitting you like a glove.
5. Bargain Hunter
Once you understand which suit best fits your body shape, it’s a matter of waiting for the sales to hit, and get in there first. Many of the middle range brands, selling suits on the high street or online, regularly have great sales where you can get an excellent quality at a fraction of the original price.
A Little Goes a Long Way
There’s no denying that a custom-made suit will look better than anything you can get off the hanger, regardless of how much it sets you back. But, for the brokers who either aren’t ready to go bespoke, or who’d rather be savvy with their spending, this list should have you looking the part, at a fraction of the price.
In the mean time, carry yourself with confidence, channel your mindset to success, and with a touch of ‘Harvey Specter Swagger’, you’ll be surprised how far a cheeky high street hack can take you.
More about overwrite.ai
overwrite.ai is a Foundation Language Model. A pioneering themed generative AI, delivering engagement-oriented content for the real estate industry. overwrite.ai creates the marketing content that powers the real estate industries of the UAE, KSA, Egypt and Lebanon.
For informative news and views on the world of real estate, proptech and AI, follow overwrite on Instagram and LinkedIn, and keep up-to-date with our weekly NewsBites blog.
From headline-grabbing AI projects to protection against cyber criminals, hiring for the right competencies will determine which businesses win in 2023.
Whether you’re a one-person show, or part of a global enterprise with 100’s of employees, hiring for the latest tech skills will help you do business more efficiently, safely and profitably.
So, here are the 3 areas to focus your energy when it comes to developing key skills, and driving growth and innovation for your business – large or small.
Developing skills in AI doesn’t necessarily have to be about learning advanced computer science and how to create machine-learning algorithms from scratch.
More practically, it’s about understanding how to fit the plethora of tools and platforms that are becoming increasingly available, affordable and usable every day, to the needs of your business.
By now, most people reading this have probably heard of, and used, ChatGPT, or the new, AI-enabled version of Microsoft’s Bing search engine. You may even have dabbled with tools like Dall-E 2 or Stable Diffusion to see what AI-generated art is about.
But this is just the tip of the iceberg. There are literally hundreds of AI-infused tools and platforms becoming available, designed to automate and speed up leisure or business activities from bookkeeping to social media management, prospecting for leads, creating text, videos and soundtracks, or managing any kind of project.
Take real estate for example. Agents can now significantly improve their efficiency by adopting generative AI. Using overwrite.ai to create property listing descriptions, means agents can focus on higher value tasks, (such as closing deals), instead of time-consuming admin.
It’s also about being able to understand and predict the way AI will impact your line of business in the future, so when even more sophisticated and powerful tools inevitably become available, you’ll be the first to put them to work and reap the rewards.
2. Data analysis
Most businesses don’t know how to use even a fraction of the data that they generate or have access to through external sources.
Those that do can use it to drive efficiency, better understand their markets and competition, and develop products and services that are more in-line with their customers’ needs.
As with AI – and this is particularly true if you are a smaller organisation – these days it doesn’t necessarily have to mean developing the hardcore technical skills that you would have needed if you’d wanted to carry out analytics 20 years ago.
Today, you can find myriad tools with friendly user-interfaces that will help you analyse your data.
All you need to do is access the data you already have to understand, for example, what demographics your products and services are popular with, what price points your customers are comfortable with, how your customer service performance impacts your customer churn, and how faults, breakages and wastage affects your bottom line.
3. Cybersecurity
It’s a sad but inescapable fact that as technology enables us to do new and amazing things, it also makes us vulnerable to new threats. The cost of cybercrime to businesses will be $8tn in 2023 and is expected to grow to £10.5t by 2025. Much of this is down to costs incurred when data is stolen – estimated at around $500 per stolen record, with the most damaging cyber thefts seeing fraudsters make off with millions of records.
Once again, there is a common misconception here – that implementing cybersecurity skills will involve hiring elite experts who will sit in a darkened room, scanning monitors for thieves attempting to breach your firewall.
In fact, the most important cybersecurity skills are those that can be taught relatively cheaply to anyone. These include safe password management practices, avoidance of malware, and awareness of attacks designed to stop letting attackers in.
The technology landscape is constantly evolving. This means it’s essential to take a strategic approach to putting the right skills in place, across the workforce. By doing this, business leaders ensure their organisations are ready to leverage the tools, platforms and trends that will help them to tackle their priorities – without being side-tracked by those that are just likely to be a distraction.
More about overwrite.ai
overwrite.ai is a Foundation Language Model. We are a pioneering themed generative AI, creating engagement-oriented content for the real estate industry. overwrite.ai creates the marketing content that powers the real estate industries of the UAE, KSA, Egypt and Lebanon.
For informative news and views on the world of real estate, proptech and AI, follow overwrite on Instagram and LinkedIn, and keep up-to-date with our weekly NewsBites blog.
