Hani Dabash, Deputy CEO, Ezdan Holding Group • Interview

Ezdan Real Estate has been a reliable partner for both the public and private sectors and was able to adapt its business due to its ability to satisfy different types of clients.

What have been the main highlights for Ezdan Real Estate in recent years, and how do you expect the real estate environment to evolve in 2021?

In 2019 and early 2020, we saw our occupancy level steadily grow. We were able to overcome all the challenges encountered in 2020 and adapt to the dynamics of the markets, thanks to a business model that has been pliable to satisfy different types of clients. When someone thinks of embarking on a new business in Qatar, one of the main variables to consider is commercial and residential property costs, as well as location convenience. Therefore, we operate in a strategic sector that will support growth and diversification in 2021.

How will your client base evolve in the medium term?

Ezdan has always been a reliable partner for different entities from the public and private sectors. Our business relationship with our partners is perfectly stable, so we expect stability in our clientele base. However, if our capacity allows us to admit new clients, we will try to do so. We adopt a rosier prospectus about the biennium 2020 and 2021, so we will most likely start working with new clients. The 2022 FIFA World Cup preparation works are some of the factors to consider for this bullish outlook.

How will the 2022 FIFA World Cup impact the real estate sector in Qatar?

Once the World Cup is over, we will be left with amazing and well-established infrastructure, as well as great business opportunities. Many people aspire to see the organizing country first-hand and see how advanced we are in terms of housing options, hotels, and so on. All these factors give us a great opportunity. Moreover, with the possibility of 100% ownership by expats recently approved, this stimulus will be enhanced to its full potential. On the long run, there will not be a real estate oversupply problem caused by the World Cup. As in every economy, there will be cycles but not a structural oversupply. Two thirds of our efforts and dedication are designated to certain tranche of the market, the middle and lower classes, so unlikely we can suffer a potential luxury market oversupply.

How unique are the properties you manage in terms of Qatari culture and heritage, and how does Ezdan mix them with the modern aspect of Doha?

Our buildings feature the genuine Qatari identity from A to Z and is etched and incorporated from the very earlier stages. We have down-to-earth, beautiful spaces for families to live in, with gardens and Qatari architecture playing a relevant role. Our business model focuses mainly on small villages, where such architecture is more appreciated than in central Doha. We operate buildings in around 25 villages, and they symbolize the Qatari legacy coupled with all meanings of fraternity, compatriotism and huddling. There are no superstructure buildings, and the decor and landscape provide a cozier ambience. We have buildings in Doha that mimic the city’s modern style, but most of our portfolio is focused on villages.

What are your strategic priorities for the next two years?

Our company is mainly concerned with securing the current supply and how it fits the market. We also have some projects docketed in the pipeline. For example, Ezdan Oasis comprises 9,500 residential and commercial units. The launched stage of this project so far in the market has been extremely successful and is over- leased. Nevertheless, the project is fully established, and we plan to launch phase two in the next two years. In the future, we will release further phases to meet the demand from the World Cup. We have almost 30,000 units, which is putting Ezdan in a unique position compared to other developers in the market when it comes to meet regular and circumstantial demand. We also have more products in the offing waiting to be released at the most suitable moment.