A Buffett of choices in Dubai
Dubai’s real estate sector has got its biggest endorsement yet. The world’s leading investor, Warren Buffet, wants to be part of the city’s success story now set for a new phase of growth. Berkshire Hathaway HomeServices, the real estate affiliate of the billionaire investor, has decided to open its global franchisee in Dubai which speaks volumes about the potential of the emirate and the promise it holds for the future. For more than five decades, Buffett has concentrated his investment firepower on the US. But now, when the company is looking to invest across the world, Dubai has become its first stop in the Middle East. It will be Buffett’s fourth global franchise, after Berlin, London and Milan. And it is a testament to Dubai’s diversified economic model of growth. The thrust on innovation in every sector is reshaping the idea of the city where the future will be powered as much by technological advancements as with the imagination and will of the leadership and the people. Buffett’s entry presents the best of both worlds — the East and the West. The emirate already has modern projects and its urban architecture is second to none. Within a decade of unveiling the tallest tower in the world, Dubai announced plans to break its own record and build another to inspire the world.
There is an undeniable appetite for more projects that push the boundaries of engineering and realise ingenious plans. The fact that brokerage operations will be dealing in properties worth Dh3 million and above prove that real estate sector here has the depth and capacity for more landmark ventures. It therefore comes as no surprise that the company plans a second UAE office in Abu Dhabi ‘within a year’. Dubai has been a centre for trade, logistics, finance, and tourism. It is currently attracting innovators and a new breed of entrepreneurs who have a spark for big technology while making it easier for businesses with progressive laws and regulations. Visas for property buyers, better regulatory frameworks and ease of transactions have ensured the growth of each sector. The Sage of Omaha knows it is the right opportunity for a Dubai foray. He can sense it and he is right. His strike rate is among the best in the business and this move could take Dubai’s real estate to another level.
The Sage of Omaha’s strike rate is among the best in the business and this move could take Dubai’s real estate to another level.