As an Ethiopian who has successfully transitioned into Dubai’s highly competitive real estate industry, Samrawit A. Kassaye offers a unique perspective on navigating this dynamic market. With a passion for real estate sparked at a young age, Samrawit’s career journey is an inspiring tale of perseverance, strategic thinking, and deep industry knowledge. Her insights into the market, particularly for Ethiopian and African investors, provide invaluable guidance for those looking to enter or expand their portfolios in Dubai.
From Addis Ababa to Dubai: A Seamless Transition Fueled by Passion
Samrawit’s story begins in Addis Ababa, where her interest in real estate was kindled by shows like MTV Cribs. “I’ve always had an interest in architecture, design, and the intricacies of homes,” she recalls. After studying Marketing Management at Addis Ababa University, she applied her skills in a local real estate firm, quickly rising to the top. Her early success in Ethiopia gave her the confidence to explore opportunities abroad, which eventually led her to Dubai—one of the world’s fastest-growing real estate markets.
Dubai’s vibrant property market, coupled with its international appeal, provided the perfect environment for Samrawit to expand her expertise. She joined Eagle Hills, a global real estate brand, where she gained exposure to luxury and international markets. This experience was crucial in preparing her for the challenges of Dubai’s competitive market.
Navigating Challenges in a Competitive Market
Entering Dubai’s real estate market, Samrawit quickly realized that success required more than just selling properties. It involved thoroughly understanding each project, its potential for growth, and its long-term returns. “I took the time to study each project thoroughly, looking beyond the marketing to understand the value and potential it could deliver to investors,” she explains. This meticulous approach helped her build trust with clients and establish herself as a certified property consultant in one of the UAE’s leading real estate firms.
Staying competitive in Dubai’s ever-evolving market demands continuous learning. Samrawit stresses the importance of keeping up with new projects, regulations, and market shifts to provide the best advice to clients. “Not every property in Dubai guarantees strong returns,” she cautions. Her approach involves advising clients to take a calculated approach, considering each property’s long-term potential and value.
A Defining Moment: Finding Success Early On
Samrawit’s career-defining moment came early when she sold a luxury villa in Ethiopia at just 21 years old. “It was a turning point for me. It made me realize that when I believe in something, I can achieve it,” she recalls. This success solidified her passion for real estate and set her on the path to becoming a top-performing consultant. Her ability to overcome challenges and turn doubt into success is a testament to her perseverance and skill in the industry.
Culture as a Bridge: Working with Ethiopian and African Clients
As one of the few Ethiopians working for a global real estate brand in Dubai, Samrawit is uniquely positioned to serve her community. “There’s an immediate sense of trust that comes from speaking the same language and understanding cultural nuances,” she says. Ethiopian and African clients, in particular, appreciate working with someone who understands their needs and can navigate the complexities of international investment.
Samrawit’s position allows her to offer a diverse portfolio of properties to both local and international buyers, helping them achieve their broader goals, whether they’re looking for rental income, property appreciation, or international exposure for their investments.
Dubai’s Appeal to African Investors
When asked why Dubai is an attractive destination for Ethiopian and African investors, Samrawit highlights several key factors. Dubai’s accessibility, with direct flights from Ethiopia and other African countries, makes it a convenient option for investors. Additionally, Dubai’s tax-free environment and interest-free payment plans provide financial incentives that are hard to find elsewhere.
Dubai’s status as a global tourist hub also plays a crucial role. With a large expat population and high demand for rental properties, investors can expect strong returns on their investments. “The tax-free environment, large expat population, and high demand for rentals make Dubai a very attractive market for investors,” Samrawit notes.
Understanding Ethiopian Buyers’ Preferences
Ethiopian buyers in Dubai typically invest for various reasons, including securing visas, providing housing for their children attending university, or generating rental income. Samrawit advises first-time investors to start small—perhaps with a studio or one-bedroom apartment—before considering larger investments. “For first-time investors, I recommend starting with something manageable and then expanding once they see positive returns,” she suggests.
Her focus on understanding each client’s specific goals allows her to provide tailored advice, ensuring that her clients’ investments align with their long-term objectives.
Addressing Misconceptions About Dubai’s Real Estate Market
Samrawit frequently encounters misconceptions about Dubai’s real estate market, especially from first-time investors. One common belief is that Dubai’s market is only accessible to luxury buyers. “In reality, there are a variety of investment options, including affordable properties like studio and one-bedroom apartments that cater to different budgets,” she explains.
Another misconception is that Dubai’s market is too volatile. While there are fluctuations, Samrawit emphasizes that the market has shown resilience, particularly in prime locations. She advises investors to do thorough research and work with experienced property consultants to navigate the market’s complexities.
Long-Term Growth and Investment Opportunities
Looking ahead, Samrawit predicts continued growth in Dubai’s real estate market, driven by major infrastructure projects like the development of Dubai South and the upcoming Etihad Rail project. These developments are expected to increase property values and make Dubai an even more attractive destination for investors.
For Ethiopian investors seeking long-term returns, Samrawit recommends focusing on emerging areas like Dubai South, where property prices are still accessible but expected to appreciate significantly in the coming years. “Investing in these areas allows investors to benefit from future growth while mitigating risks associated with higher entry costs in more established areas,” she explains.
Final Thoughts: A Path to Success in Dubai’s Real Estate Market
Samrawit’s journey from Ethiopia to Dubai is a story of determination, strategic thinking, and deep expertise in real estate. Her insights into the market, particularly for Ethiopian and African investors, provide a clear path to success. By focusing on thorough research, understanding clients’ goals, and staying informed about market trends, Samrawit continues to help her clients achieve their investment goals in one of the world’s most dynamic real estate markets.
For those interested in exploring opportunities in Dubai, Samrawit offers free consultations and is always available to provide tailored advice. As she proudly notes, “It’s never too late to invest if you approach it with the right information and foresight.”
For inquiries and consultations, Samrawit A. Kassaye can be reached at s.kassaye@axcapital.ae or +971529180516.
