Simsari.com (www.simsari.com), Dubai’s online property marketplace, is aiming to transform the home hunting experience for people around the world interested in purchasing real estate in the UAE. The online property market is one of the Internet’s fastest growing B2C (business-to-consumer) businesses. Simsari.com is a Tejari.com company (www.tejari.com). Tejari.com is an emerging markets B2B online marketplace with over seven years experience and more than $4 billion in online transactions.
“The fast growth of the online property market coupled with the strong attraction that the UAE has for international real estate investors, made creating Simsari.com a strong commercial proposition for Tejari,” said Omar Hijazi, CEO of Tejari. “The UAE has more than $230 billion of real estate projects planned or in progress and so there is an enormous opportunity for Tejari to leverage its international experience in e-business and (through Simsari.com) use its technology to simplify the process of buying properties in the UAE.”
“Real estate is now among the Top 10 most sought after B2C categories online: Alongside hotels, resorts and online travel agencies,” said Marwan Lallas, Simsari.com’s new managing director. “Reports show that in the UK, over 90 percent of home buyers go online first before going through any other medium and there is a strong global trend toward online property research and comparison shopping. Even so, online property services are still in their infancy and enormous potential remains for Simsari.com to take a significant slice of the market for international online property sales.”
Simsari.com offers the combination of validated listings, online buying capabilities, financing resources and expert insights to help property buyers choose and own their Dubai home through a smart, simple process. Simsari.com’s growth is underpinned by both increasing reliance on, and trust in, the Internet by consumers and strong growth in the UAE’s real estate sector.
According to the latest report from Middle East Economic Digest (MEED), Dubai’s economic growth has received a significant boost from property development. The construction industry in Dubai alone has grown at an average of 32.7 percent a year over the past six years and real estate and business services have recorded average growth of 25 percent a year. It is estimated that 175,000 new residential property units will be available in Dubai by 2010, supported by continuing strong demand.