Businessman Tarek Sweed, Chairman of Sakan Group for real estate development, said that after the location, price and payment system were the most influential factors in the decision to buy property, today the client is asking different questions about the nature of the developer, his track record and his ability to manage after the project is delivered.
He explained that while preparing to launch its latest projects “Moon Hills 6”, they found that this change is no longer just changing client behavior, but has become an indication of the mature market, as real estate development is no longer an industry based on buildings only, but its building a value lasting for years.
He pointed that the success of any project is not measured by the great demand, but by its ability to maintain quality and value after its implementation, noting that the market is still measuring the real estate by its price, which is an important standard, but is not the only criterion, as the real value is also formed by the quality of planning, implementation efficiency, continuity of developed company, maintenance quality, residential community management, sustainability and services, which are finally determined by the real return achieved by the project for its owners and investors.
He assured that this conviction was not only from theories, but from a practical experience exceeds 15 years, during which Sakan Group carried out more than 95 projects, before they were heading to the development of Moon Hills series, which includes Moon Hills 1 and Moon Hills 2, Moon Hills 3, Moon Hills 4 and Moon Hills 5, down to Moon Hills 6, which the company is preparing to launch during the coming period.
He emphasized that each new project is an opportunity to re-ask a question that is more important in the development process: How will this project be after ten years?, adding that the answer of this question determines a lot of decisions, starting from the selection of the site, through urban planning, building proportions, distribution of open areas, and even after delivery and operation.
He pointed that recent studies in real estate development and residential communities are dealing with the project as an integrated cycle, starting before placing the cornerstone, and does not end when unit is delivered, but stretch to maintain the quality of assets and maximize their long-term asset, which is the concept that most of the mature real estate markets have adopted.
Businessman Tarek Sweed asdured that the future of the sector will belong to companies that succeed in building trust before building projects, because client may buy a unit once, but he evaluates the developer throughout the quality of the project.
He explained that launching Moon Hills 6 comes as an extension to a vision that Sakan Group has adopted for years, based on the fact that real estate development is not limited to create new buildings, but begins with understanding people’s needs, along with maintaining the quality of life, and ends with building value capable of continuing over time.
