رونوشت کامل Episode 13: Investment Beyond Borders | How the Middle East is Shaping the Future of Real Estate and the World

coming in from Asia. 00:02:40.457 --> 00:02:44.862 How has that transformation changed the way Dubai's market is? 00:02:47.506 --> 00:02:56.896 Well, that's a great question, Lloyd, because we always go back and look at history and how far this nation has transformed. 00:02:57.889 --> 00:02:59.092 the global landscape. 00:03:00.633 --> 00:03:05.139 Today, fast forward today, 2025, Dubai is a brand. 00:03:07.242 --> 00:03:10.326 It cannot be considered as just a city. 00:03:10.486 --> 00:03:14.673 It's a global brand that sells itself. 00:03:15.675 --> 00:03:20.260 And, you know, I've been traveling around the world and whoever I meet and they ask me, where do you live? 00:03:20.360 --> 00:03:21.423 And I say, I live in Dubai. 00:03:22.144 --> 00:03:22.844 Oh, wow. 00:03:23.645 --> 00:03:30.743 It's become the wow factor that, to every regular person that I've met. 00:03:31.585 --> 00:03:40.239 Not yet talking about the elites or the ultra wealthy because they know the weight of Dubai and what it offers. 00:03:40.258 --> 00:03:57.985 But if we historically, this nation before 1971, which is the union of the seven Emirates, Dubai, Sharjah, et cetera, They were, you know, they were traders. 00:03:59.366 --> 00:04:02.911 And they dive in the Arabian Gulf. 00:04:03.350 --> 00:04:04.231 For pearls. 00:04:05.092 --> 00:04:06.394 Yeah, for pearls, right? 00:04:07.455 --> 00:04:19.769 And then fast forward 1971, Sheikh Zayed bin Sultan, the founder of the United Arab Emirates, he went to all these seven tribes. 00:04:20.589 --> 00:04:23.874 So seven emirates, every emirate was run by a separate tribe. 00:04:24.482 --> 00:04:30.430 So he went to the leaders of those tribes and he told them, alone, we are weak. 00:04:31.413 --> 00:04:38.062 But if we unite, that's how United Arab Emirates was formed, we become very, very strong. 00:04:38.403 --> 00:04:41.067 And that was the time when they discovered oil. 00:04:42.930 --> 00:04:51.663 Entire structure of this country, after they discovered oil, they heavily invested in themselves. 00:04:52.584 --> 00:05:01.666 And And believe it or not, Sheikh Zayed bin Sultan Al Nahyan, which is, well, he passed away now, may God bless his soul. 00:05:01.706 --> 00:05:04.711 He was genius and he was illiterate. 00:05:05.372 --> 00:05:07.014 He was not able to read and write. 00:05:09.879 --> 00:05:14.225 But he had a vision to put everybody together and he did it. 00:05:14.625 --> 00:05:18.471 And he invested heavily in infrastructure and education. 00:05:19.552 --> 00:05:37.603 So all the income that they generated from oil he managed to send UAE nationals abroad to study in the global top universities so they can bring that power, the knowledge they gave down to the country. 00:05:38.704 --> 00:05:40.687 And he kept investing in infrastructure. 00:05:40.706 --> 00:05:56.961 And every Emirates, until they have their own rules and regulations and how the Emirates is run, Abu Dhabi is the capital today and it's recently last year it got the name of capital of capital. 00:05:57.601 --> 00:06:01.668 Abu Dhabi is the wealthiest city in the globe today. 00:06:03.790 --> 00:06:21.480 Dubai has always emerged faster than any other Emirates because their vision was we need to create a place where everyone from anywhere in the world should come and work and live here. 00:06:21.800 --> 00:06:33.932 And the ruler of Dubai, which is Sheikh Mohammed bin Rashid Al Maktoum, the current ruler, he always had the vision of becoming number one. 00:06:34.853 --> 00:06:47.045 I remember I've seen an interview for him in the early 80s, and he was interviewed by a British TV, and he was asked, what do you wanna become? 00:06:48.161 --> 00:06:49.524 And he said, I want to become number one. 00:06:49.624 --> 00:06:53.869 Number one in education, number one in healthcare, number one in lifestyle. 00:06:54.930 --> 00:06:56.391 And he said, how are you going to do that? 00:06:56.531 --> 00:06:56.752 Why? 00:06:57.213 --> 00:06:58.374 Why do you want to become number one? 00:06:58.495 --> 00:06:59.896 And his answer was very simple. 00:07:00.336 --> 00:07:00.776 Why not? 00:07:01.218 --> 00:07:01.418 Right. 00:07:01.738 --> 00:07:23.834 Well, what's interesting is, you know, I think we had this conversation before where when I was trying to make a decision on where I would like to be and where I want my business to be, The question that I asked everybody who tried to pitch me to go and work and partner with them was, well, where's the road to number one? 00:07:24.254 --> 00:07:27.156 And I think people are thinking that that's a bad thing. 00:07:27.197 --> 00:07:29.598 It's overly ambitious to try to be number one. 00:07:29.619 --> 00:07:36.925 But the reality is, is that without the vision to be number one, you won't see the obstacles. 00:07:38.146 --> 00:07:42.790 You won't see the opportunities because all you're doing is sort of like plodding along. 00:07:43.531 --> 00:07:47.355 But when you have a direction, then it makes a big difference. 00:07:47.714 --> 00:07:48.115 I also... 00:07:48.656 --> 00:08:07.396 I'm blanking out on its name, but one of the heads of the banks in Dubai also brought up a very good point about turning from trade-based industry into manufacturing industry and beyond. 00:08:08.017 --> 00:08:09.199 It had to do with the Pearl. 00:08:09.620 --> 00:08:11.221 And they're saying that when they... 00:08:11.713 --> 00:08:18.007 they were digging, when they were diving for pearls, it was a great business. 00:08:18.067 --> 00:08:26.963 But then the Japanese came, And artificial pearls now were being produced, and then the value of pearl went down. 00:08:27.004 --> 00:08:31.512 And that technology really brought down their industry. 00:08:31.531 --> 00:08:45.133 Now, when they discovered petroleum, and it's become the industry of the GCC region, one thing they've never forgotten is how industry... 00:08:45.761 --> 00:08:53.350 had brought down, if you rely on only one

thing, you are vulnerable. 00:08:53.789 --> 00:09:12.669 And therefore the first thing that they wanted to do the moment the petroleum industry exploded is to try to diversify, knowing full well that things may change and therefore you have to be everywhere and on top of everything and not just one thing and not reliant on one thing. 00:09:13.121 --> 00:09:22.442 And they've been doing, I think we've seen the last, because they have a 10-year goal, we're seeing the acceleration of it. 00:09:22.481 --> 00:09:33.283 But what I think a lot of people in the world don't know is that they've been trying to do this from the, beginning of the discovery of petroleum, et cetera. 00:09:33.724 --> 00:09:39.392 Now, in terms of real estate, how has the landscape of real estate changed? 00:09:39.912 --> 00:09:49.664 I know that in the last 20 years, Dubai has rapidly changed in terms of real estate, having sort of like toured the different areas. 00:09:49.705 --> 00:09:55.010 Dubai is divided into how many different neighborhoods at the moment? 00:09:55.110 --> 00:09:56.913 Or what are the neighborhoods that people... 00:09:57.313 --> 00:09:58.894 There's Business Bay, right? 00:09:59.456 --> 00:10:01.597 And there's De Palme. 00:10:01.918 --> 00:10:06.042 Where is development in Dubai really concentrated at the moment? 00:10:08.784 --> 00:10:10.807 Great question, Loy. 00:10:10.886 --> 00:10:16.272 So real estate has reshaped the existence of Dubai. 00:10:16.471 --> 00:10:19.774 And I'll tap into that later in our conversation. 00:10:19.875 --> 00:10:26.741 But everything was based on the agility of the leaders and how fast they can really... 00:10:27.426 --> 00:10:34.014 reform the policy and make it a welcoming place to international investors. 00:10:35.196 --> 00:10:39.041 To answer your question, Dubai is divided into four zones. 00:10:40.263 --> 00:10:54.159 So we have the waterfront zones, the waterfront area, and that's Palm Jumeirah, Amhar Beachfront, Jumeirah Bay, and so on across the coastal line. 00:10:55.778 --> 00:11:05.013 The second zone is the downtown of Dubai, where the Burj Khalifa, the tallest tower in the world, and the Dubai Mall, the largest mall in the world. 00:11:05.975 --> 00:11:10.062 And then you've got the DIFC, Dubai International Financial Center. 00:11:10.322 --> 00:11:12.085 This is also considered one zone. 00:11:13.147 --> 00:11:21.320 And you have the desert living, and where we call it today Dubai Land, where most of the... 00:11:22.562 --> 00:11:24.384 Mega development is happening. 00:11:24.804 --> 00:11:29.591 So currently there are cities being built in Dubai land. 00:11:31.352 --> 00:11:40.504 Massive development where developers are building villas and townhomes and apartment buildings. 00:11:41.024 --> 00:11:44.809 And then we have the fourth zone, which is the Dubai South. 00:11:45.985 --> 00:11:48.749 And Dubai South is divided into two. 00:11:49.210 --> 00:11:52.533 You have the new airport area, which is currently under construction. 00:11:52.552 --> 00:12:00.000 It's going to be the largest airport in the world with the current investment of over$40 billion. 00:12:01.663 --> 00:12:09.351 The airport will consist of over 400 terminals to accommodate more than 300 million travelers annually. 00:12:10.373 --> 00:12:14.356 And you have the Dubai Expo City. 00:12:15.394 --> 00:12:17.256 It's also considered part of Dubai South. 00:12:17.537 --> 00:12:25.107 The Expo City was the home of Dubai Expo 2020, which happened in 2021 due to the pandemic. 00:12:25.248 --> 00:12:26.870 It was a very successful expo. 00:12:27.431 --> 00:12:29.854 And that itself is a global city. 00:12:29.894 --> 00:12:36.043 It's going to host the largest trade center in the world as well. 00:12:37.125 --> 00:12:42.893 And down the road from Dubai Expo City, we have Dubai Industrial Zone. 00:12:43.494 --> 00:12:43.614 Mm-hmm. 00:12:43.809 --> 00:12:49.116 where it's going to be a home for the largest and the most sophisticated industries around the world. 00:12:49.778 --> 00:12:58.711 So the city is emerging super, super fast with mega development across the city. 00:12:59.471 --> 00:13:06.662 I think there will be enough business for contractors and builders for the next 30 years. 00:13:07.663 --> 00:13:08.024 So 00:13:08.924 --> 00:13:19.523 what's striking, I think what you were saying is, Of the zones that you talked about, only one of them seems to be simply tourism-based. 00:13:19.964 --> 00:13:28.620 I would assume that obviously the coastal communities are prime for tourism, hospitality, etc. 00:13:29.602 --> 00:13:42.208 But if there are technology and industrial cities that are being built, you know, then it also means that they are anticipating other industries coming in. 00:13:42.350 --> 00:13:59.259 And the Crown Prince has been a leader, I think, in transforming the thinking of trying to bring in artificial intelligence and science and technology, environmental conservation into Dubai. 00:13:59.438 --> 00:14:00.721 And, you know, with the... 00:14:01.186 --> 00:14:07.967 with the intent of being a leader in those industries, are we seeing... 00:14:08.514 --> 00:14:21.044 industries from different places in Europe and Asia beginning to sprout and not just a financial, because finance is easy, wherever the money is, that's where they sprout, right? 00:14:21.605 --> 00:14:36.738 But actually manufacturing industries, schools, education and all of that stuff, when they begin in a region, then it becomes a full-blown part of culture in the country. 00:14:37.278 --> 00:14:39.640 Is that where we're headed in Dubai, 00:14:41.844 --> 00:14:42.705 you think? 00:14:43.326 --> 00:14:48.250 I think Dubai is probably 10 million years ahead of everybody globally. 00:14:49.812 --> 00:15:12.730 We've seen the sound of the artificial intelligence coming up recently in the past probably one and a half year, where the global market has understood that there is a technology called

artificial intelligence and it could be utilized into businesses. 00:15:13.812 --> 00:15:26.664 Believe it or not, in 2016, Dubai has established the first ministry of artificial intelligence before everybody was looking into artificial 00:15:26.705 --> 00:15:27.346 intelligence. 00:15:28.626 --> 00:15:34.854 And they were far ahead of everybody else of trying to understand how to regulate AI. 00:15:35.937 --> 00:15:42.827 and what sort of industries they could really tap into utilizing the power of AI. 00:15:43.028 --> 00:15:55.447 And they were one of the first countries, or I would say the first country to implement artificial intelligence in predictive maintenance in telecom companies. 00:15:57.090 --> 00:16:08.238 So they use the data of why the BTC towers fails And they use artificial intelligence to predict if a similar symptoms are happening. 00:16:08.298 --> 00:16:13.585 So they would go on and maintain the tower before it goes totally offline. 00:16:14.447 --> 00:16:25.182 And that has saved the telecom industry here billions of dollars because you don't run out of business or your service doesn't cut out because of a failure in a tower or two. 00:16:25.442 --> 00:16:30.128 and utilize that industry as well to understand the customer charm. 00:16:30.447 --> 00:16:39.659 Why would a customer of a specific telecom provider would decide to leave that provider and go to the other competitor? 00:16:40.522 --> 00:16:55.133 And they've implemented that and the AI works competitively to understand certain patterns and then advise the marketing and the sales and the retention team of what offers they need to provide to their clients. 00:16:56.455 --> 00:17:10.617 So why do you think the vision, one would think that the leaders, the Western world, specifically the United States, do we have that? 00:17:10.858 --> 00:17:24.476 I mean, I would assume that we have some sort of a function of that now, but I think the UAE, Dubai in particular, are much more nimble in getting to it, getting to the bottom of things. 00:17:25.356 --> 00:17:26.657 Is it capital? 00:17:27.118 --> 00:17:31.904 Or is it the less bureaucracy or a combination of both? 00:17:34.647 --> 00:17:38.512 Believe it or not, Dubai is not reliant on capital. 00:17:38.792 --> 00:17:39.773 Capital comes anyway. 00:17:41.236 --> 00:17:42.678 Capital is invited here. 00:17:42.978 --> 00:17:51.868 And now capitalists understand that their growth rate is much faster being in Dubai than anywhere in the world. 00:17:52.490 --> 00:17:59.558 But just to give you a bit of understanding, the rulers are royals. 00:17:59.838 --> 00:18:03.282 So this country is run by a royal system. 00:18:03.963 --> 00:18:08.670 That means the decision is done in the house by the royal house. 00:18:09.473 --> 00:18:11.296 So less bureaucracy, that's 100%. 00:18:11.375 --> 00:18:24.089 And part of the initiative that the Royal Office is continuously and proactively developing is reduce government bureaucracies. 00:18:24.851 --> 00:18:27.193 In Dubai, we don't really need to visit the government office. 00:18:27.334 --> 00:18:28.174 Everything is digital. 00:18:28.234 --> 00:18:29.476 We have an app for everything. 00:18:30.156 --> 00:18:34.481 You want to give someone power of attorney, you would do it over Zoom. 00:18:35.603 --> 00:18:38.445 And within 30 minutes, you have the power of attorney in your email. 00:18:38.817 --> 00:18:40.440 You don't have to visit any lawyer. 00:18:40.480 --> 00:18:43.003 You don't have to go to any public notary office. 00:18:43.644 --> 00:18:44.365 Everything comes to you. 00:18:44.405 --> 00:18:49.634 The government, the vision was, look, it's very easy to become number one. 00:18:49.834 --> 00:18:53.519 And probably this is quite common for us and has become normal. 00:18:54.259 --> 00:19:00.489 The biggest building in the world, the tallest residential tower in the world, the longest driver, less metro in the world. 00:19:01.330 --> 00:19:06.178 So the vision behind that is it was very easy to become number one. 00:19:07.233 --> 00:19:10.088 but the toughest part is to remain number 00:19:10.108 --> 00:19:10.169 one. 00:19:10.190 --> 00:19:12.119 Number one, yeah, always. 00:19:12.673 --> 00:19:15.679 Because there's only one direction, which is down, right? 00:19:16.098 --> 00:19:18.522 When you're at the top, there's only one direction. 00:19:19.023 --> 00:19:22.470 So maintaining that number one status is the most difficult part. 00:19:22.490 --> 00:19:29.240 But when we talk about Dubai, I don't want to discount the other Emirates as well, Abu Dhabi in particular. 00:19:29.300 --> 00:19:44.976 But to me, it's sort of akin to when you go out of the US and somebody asks you where you're from, You don't say America, you say New York, you say California, et cetera. 00:19:45.336 --> 00:19:47.680 And Dubai is that for the UAE. 00:19:48.320 --> 00:20:01.700 I think most people can name maybe two or three of the Emirates, Sharjah in Abu Dhabi and Dubai, and then sort of like trail off with the rest. 00:20:01.740 --> 00:20:08.650 But people also who have not been to Dubai should understand that the culture is very rich. 00:20:09.089 --> 00:20:10.832 in the UAE. 00:20:11.313 --> 00:20:13.194 And it's very well preserved. 00:20:13.454 --> 00:20:20.564 The things that we see on TikTok and Instagram is only a snippet of what the UAE really offers. 00:20:21.025 --> 00:20:23.989 Yes, they offer five-star hospitality. 00:20:24.048 --> 00:20:31.518 They offer five-star restaurant services, first-class services. 00:20:31.617 --> 00:20:50.742 support for businesses and industries but it's also a country very rich in culture and driving and Abu Dhabi for instance is significantly in context and texture different from what Dubai is. 00:20:50.923 --> 00:20:56.911 And for a reason, they would like to maintain the integrity of the different Emirates, right? 00:20:57.491 --> 00:20:59.874 So talk to us a little bit about Abu Dhabi.

00:20:59.894 --> 00:21:01.557 What's happening in Abu Dhabi these days? 00:21:03.378 --> 00:21:08.325 Abu Dhabi is the capital of the United Arab Emirates, just like Washington DC in America. 00:21:09.266 --> 00:21:15.794 That's where the federal decisions are being taken for the benefit of the nations and the benefit of the business. 00:21:16.226 --> 00:21:18.067 and the growth of the country. 00:21:19.670 --> 00:21:24.134 But Abu Dhabi is positioning itself as completely different than Dubai. 00:21:25.695 --> 00:21:32.282 I'll give you some of the culture that Abu Dhabi is representing. 00:21:33.845 --> 00:21:52.811 First, today, Abu Dhabi is the capital of capital due to the largest investment they make globally and also the largest investment hub where foreign investors move their family offices, their hedge funds to Abu Dhabi. 00:21:53.673 --> 00:22:02.405 They created a free zone called Abu Dhabi Global Market, where most of the largest hedge funds around the world opened an office there. 00:22:03.488 --> 00:22:14.386 And some of the largest family offices moved to Abu Dhabi due to the resilience of policy and some other benefits such as zero income tax. 00:22:15.587 --> 00:22:22.297 So individuals in the UAE enjoy zero income tax when they establish their residency or tax residency in the UAE. 00:22:23.337 --> 00:22:34.873 And it's unmatched infrastructure and safety, state of art healthcare and governance and ultra modern transport and low crime levels. 00:22:35.594 --> 00:22:43.352 Abu Dhabi is also positioning itself as a cultural hub So you have Guggenheim Museum is currently being built in Abu Dhabi. 00:22:44.012 --> 00:22:50.162 You have the Sheikh Zayed Museum, the first university of artificial intelligence is in Abu Dhabi. 00:22:50.182 --> 00:23:08.395 You have currently Disney announced an investment in Abu Dhabi, but before Disney, you have Warner Brothers, they established a large cultural hub in the UAE. 00:23:09.837 --> 00:23:19.230 You have multiple other investments that's positioning Abu Dhabi as a super capital in the world. 00:23:20.232 --> 00:23:27.723 And believe it or not, the United Nations has recorded globally over about 196 nations. 00:23:28.744 --> 00:23:36.263 In the UAE, there are over 200 and seven nationalities living in Dubai or in the UAE. 00:23:37.625 --> 00:23:43.654 So they have beaten what the United Nations have recorded internationally. 00:23:43.714 --> 00:23:48.622 I think this is going to be a twofold question. 00:23:48.761 --> 00:24:00.190 One is that there are obviously multiple opportunities to live in and invest and work in the UAE. 00:24:01.912 --> 00:24:07.337 Why is it important to work with people like us? 00:24:07.438 --> 00:24:12.663 Not to pat ourselves on the shoulder, but we perform a particular service. 00:24:12.703 --> 00:24:20.593 Why can't somebody just, well, I'm going to go to Dubai and I'm going to shop for villas and mansions, et cetera. 00:24:20.992 --> 00:24:41.238 What is the

benefit of the type of wealth advisory and asset advisory and acquisition and structuring that we offer to someone who is coming into Dubai who presumably doesn't have any other ties to it until that moment? 00:24:44.280 --> 00:24:53.893 I think the most important element to family offices or ultra high net worth individuals is privacy. 00:24:55.521 --> 00:25:06.557 And when you talk about billionaires' migrations, there is a report from United Bank of Switzerland about billionaire migrations globally. 00:25:07.317 --> 00:25:12.183 UAE last year welcomed over 6,700 millionaires. 00:25:13.365 --> 00:25:17.290 And this year, we are welcoming over 9,800 millionaires. 00:25:18.172 --> 00:25:22.698 And some of the key figures globally, they started moving to Dubai. 00:25:22.718 --> 00:25:25.342 I'll give you a few names, the well-known names. 00:25:25.538 --> 00:25:34.848 In the world, you have John Fredrickson, a Norwegian shipping oil magnate with an estimated net worth of about 17 billion. 00:25:35.910 --> 00:25:39.013 He recently relocated to Dubai from London. 00:25:39.835 --> 00:25:40.776 He moved his business. 00:25:40.997 --> 00:25:52.390 He sold his estate in the UK for 380 million pounds and moved everything, moved his family, his business, everything moved to Dubai. 00:25:52.851 --> 00:25:55.453 And all that wealth came about. 00:25:55.809 --> 00:26:06.082 You have Michael Pat, Britain's richest hedge fund manager, Blue Crest Capital, with around 18.8 billion in net worth. 00:26:06.102 --> 00:26:07.564 He moved to Dubai. 00:26:09.006 --> 00:26:11.608 You have Sharvin Bharti Mittal. 00:26:12.349 --> 00:26:22.442 He runs the Bharti business empire and his personal net worth of about 13.8 billion, and his family net worth is about 27.2 billion. 00:26:23.137 --> 00:26:24.500 They moved to Dubai. 00:26:25.299 --> 00:26:30.385 So those type of names, when they want to make that move, they like discretion. 00:26:31.688 --> 00:26:35.112 They don't buy things that are available in the market. 00:26:35.511 --> 00:26:37.153 They like things that are market. 00:26:38.154 --> 00:26:40.438 They have a certain lifestyle. 00:26:40.458 --> 00:26:47.806 They have certain structure that they prefer, and they don't want the rest of the world to know about it. 00:26:48.066 --> 00:26:58.179 Not simply go online or they wouldn't go online themselves, but their assistants or their managers go online and shop for assets for them. 00:26:59.000 --> 00:27:02.964 Everything comes through referrals, through a trusted network. 00:27:02.984 --> 00:27:04.906 And this is where we come in. 00:27:06.388 --> 00:27:07.150 This is where we come in. 00:27:07.990 --> 00:27:15.640 We offer totally off markets, super luxury assets. 00:27:17.377 --> 00:27:20.642 We know how to structure those assets. 00:27:21.363 --> 00:27:24.727 Obviously, no billionaire holds any asset under their name directly. 00:27:25.147 --> 00:27:26.308 So they have structure. 00:27:26.430 --> 00:27:29.653 You

have a foundation, you have a trust, you have a holding company. 00:27:30.335 --> 00:27:44.893 And when they are moving to Dubai, which is a new jurisdiction for them, different laws, different ecosystem, they would still want to protect their names, their legacy, and they would not want to work with a regular broker. 00:27:45.857 --> 00:27:51.729 They want someone to understand their needs and exactly what they want. 00:27:53.531 --> 00:27:54.314 They don't have time. 00:27:54.554 --> 00:28:05.734 Yeah, and also I think they want to work with people who have proven, not only just proven business and success, but also proven discretion in which we talk about it. 00:28:05.755 --> 00:28:06.476 These are not... 00:28:07.682 --> 00:28:14.576 These types of people are not the ones where, you know, I wag my hands on Instagram and then all of a sudden they're buying this particular. 00:28:15.218 --> 00:28:31.237 But I think what most people don't understand, especially in the Middle East, especially these types of people all over the world, is that the value that they place in something that's exclusive and nobody else knows about is paramount to them. 00:28:32.137 --> 00:28:40.085 That the more people see or have access to certain properties, the less likely they'll be intrigued or more interested in them. 00:28:40.845 --> 00:28:54.917 And that we also get them not just in talking about real estate, but talking about sales of yachts, of fine art, of all of this, being in front of them wherever they are in the world. 00:28:55.558 --> 00:29:06.371 And this is where these conversations happen, where somebody will tell us, I am selling my estate for$300 million if you have somebody. 00:29:06.391 --> 00:29:11.596 And it's not like we would go take pictures of them, do a video and put it on the internet. 00:29:12.397 --> 00:29:14.259 It's not that kind of service. 00:29:14.559 --> 00:29:16.863 It's a very exclusive elite service. 00:29:17.403 --> 00:29:22.300 And you can only do that when you have the proven reputation for doing so. 00:29:22.340 --> 00:29:32.813 And you have the proven global outreach, you know, not some affiliate or franchise or network of networks, et cetera, where you're referring it to somebody you don't know. 00:29:32.853 --> 00:29:40.902 These direct, I think, relationships, like between us, you know, in Dubai, you know, Global World Dubai, Global Maritima, Global World St. 00:29:40.922 --> 00:29:45.140 Moritz, this is where these people are. 00:29:45.480 --> 00:29:59.198 And it's important to know the sensibilities, to know their predisposition, to know their level of discretion that they command. 00:29:59.218 --> 00:30:03.231 And also, Time is always theirs. 00:30:03.772 --> 00:30:07.698 You know, it's not like you can't hurry them up in making a decision. 00:30:08.218 --> 00:30:21.272 And when they decide they want it now, you know, so it's a very, you know, so their idea of decision-making and the process of decision-making is not

a normal person's idea. 00:30:21.534 --> 00:31:08.493 But also we talked about, because I asked you why there's like a development like Damak, do a you know like a this is venice type this is milan type this is rome this is paris etc right when and the question i asked you was like when people can just go to venice if they wanted to go see venice or milan or and you told me something very interesting which is that we forget that not everybody in the world can go to places like that it's not as easy for them And so coming to something close like that in the Middle East, in Dubai, in the region where they are, or closer to where they are, is just as good. 00:31:09.915 --> 00:31:16.486 So living in a Venetian type villa versus living in Venice, they're two different things. 00:31:17.218 --> 00:31:17.577 Right? 00:31:18.338 --> 00:31:18.419 Yeah. 00:31:18.558 --> 00:31:52.737 And, and, and, you know, it's, it's almost like, you know, all of these different cultures from around the world finding, um, because I think in the beginning, I think prior to Dubai, you know, doing this development, um, you know, you know, the, and Qatar doing developments and Saudi doing developments, the, the, the most of the world probably thought about living in the Middle East as a function of, um, either living in the, in, in the region for, petroleum or petroleum-based industries or development as an overseas worker. 00:31:52.757 --> 00:32:03.438 Or the other one is the people who want to be near Jeddah or in Saudi Arabia to do some pilgrimages, right? 00:32:04.180 --> 00:32:14.420 The other parts like tourism and living there as a part of a lifestyle, is a game changer for the Middle East. 00:32:14.779 --> 00:32:19.365 Now, everybody's competing to be the next Monaco of the Middle East. 00:32:19.705 --> 00:32:21.248 Now, what's going on with Saudi? 00:32:21.288 --> 00:32:29.858 Just briefly, it's a much, much, much larger market that's going to explode. 00:32:29.898 --> 00:32:30.819 And they also have... 00:32:31.500 --> 00:32:33.143 What should we... 00:32:36.769 --> 00:32:44.461 What should we be looking at as Saudi continues its growth and development as well? 00:32:46.743 --> 00:32:59.942 Saudi, interestingly, has been reformed recently since the Crown Prince of Saudi Arabia, His Highness Sheikh Mohammed bin Salman, came to run the country. 00:33:01.025 --> 00:33:02.185 And he had one vision. 00:33:02.226 --> 00:33:03.587 We have to transform. 00:33:03.828 --> 00:33:04.829 We have to catch up. 00:33:06.625 --> 00:33:13.055 And what he has introduced, first thing he introduced, he allowed women to drive. 00:33:13.215 --> 00:33:15.038 Women were not allowed to drive before that. 00:33:16.019 --> 00:33:22.829 So he has launched a cultural revolution change. 00:33:24.112 --> 00:33:36.048 He is trying to reform the mindset first by accepting certain things are the full rights of human beings, And then they moved into investment. 00:33:37.450 --> 00:33:48.263 Saudi Arabia today is one of the largest country that is super, super developing mega projects in the region or in the world as well. 00:33:49.144 --> 00:33:59.199 And they have launched an entertainment events so they can welcome people from the globe to come and visit Saudi, explore Saudi, right? 00:33:59.920 --> 00:34:06.151 And they were also very consistent and careful about in opening up everything. 00:34:06.811 --> 00:34:17.903 Because Saudi Arabia is the home for the most holy place for Muslims, which is Mecca and the Kaaba. 00:34:18.083 --> 00:34:29.536 And that religious connection is not as easy as it looks like to open up to the globe and do certain things differently. 00:34:30.777 --> 00:34:48.333 Recently, just two weeks ago, the real estate regulations in Saudi Arabia has changed, where they allow non-Saudis or foreign nationals to own piece of real estate across certain zones. 00:34:49.376 --> 00:34:51.981 And that it could be the capital of Riyadh or Jeddah. 00:34:53.143 --> 00:34:56.849 Mecca is a holy place, so it's only for Saudi for now. 00:34:57.442 --> 00:35:00.184 I don't think that will change at all. 00:35:00.284 --> 00:35:03.148 But the rest of Saudi Arabia is reforming. 00:35:03.228 --> 00:35:07.273 Branded residents, they are big in Saudi Arabia. 00:35:07.353 --> 00:35:11.518 So we have the Trump Tower being built in Jeddah. 00:35:12.559 --> 00:35:17.764 The Four Seasons and other global brands are positioning themselves in Saudi Arabia. 00:35:18.304 --> 00:35:24.012 They are doing their best to become a global hub as well. 00:35:25.353 --> 00:35:33.202 But The road is still a bit long, but that's also an opportunity because this is an emerging market. 00:35:34.003 --> 00:35:48.358 So for investments as well, Saudi Arabia would be one of the most attractive destinations to invest in if you're looking to invest in the Middle East after, obviously, the United Arab Emirates and Dubai. 00:35:48.739 --> 00:36:07.318 I think that's the GCC region, I think, What is the most impressive to me is the longer you get to know them, the longer you get to know two things about them. 00:36:07.818 --> 00:36:17.172 One is that there is a genuine desire to be positive about the future and to create a legacy for the future. 00:36:17.634 --> 00:36:37.481 because of the history, because of where they've come from, there is a commitment and a dedication to ensure that from generations, future generations, have something to inherit, a rich history and culture and country to inherit. 00:36:37.822 --> 00:36:38.643 I think that's one thing. 00:36:38.663 --> 00:36:46.173 The second thing is that trust is something that you earn, right? 00:36:46.434 --> 00:36:47.956 You know, it's not a given. 00:36:48.817 --> 00:36:56.887 But once you've earned the trust, the positive things, you know, can come out of that, you know, that relationship. 00:36:57.266 --> 00:37:09.742 Now, to cap everything off, I just wanted, you know, because when you come here in New

York, we're going to do like a personal, you know, podcast back in the CEO, in the office, but now in person. 00:37:09.762 --> 00:37:18.726 Now, but where, tell us, To wrap it up, where does global wealth Dubai powered by Castilian estates? 00:37:20.106 --> 00:37:21.369 What should we look forward to? 00:37:21.789 --> 00:37:26.856 What is the next step for us? 00:37:28.358 --> 00:37:31.422 We wanted to do a roadshow and it's a lot of it is education. 00:37:32.762 --> 00:37:35.407 But how do people get to us? 00:37:35.586 --> 00:37:37.889 How do people get to you if they're in Dubai, etc.? 00:00:00.000 --> 00:00:00.000 ? 00:37:39.266 --> 00:37:40.007 Great. 00:37:40.847 --> 00:37:49.838 Global Wealth Dubai, I think it's positioned perfectly where the global capital is moving to the UAE. 00:37:50.840 --> 00:38:01.333 And when such plans happen, they need people on the ground to execute before the arrival of those elite. 00:38:02.195 --> 00:38:14.048 And global wealth is positioned today globally, not only in the US or or in the UAE to service specific people with a specific need. 00:38:14.829 --> 00:38:25.661 I think the global network of Global Wealth Office itself, it's a gateway to help that transition happen seamlessly. 00:38:26.724 --> 00:38:41.608 Global Wealth Office Dubai today has access to ultra, ultra luxury real estate that are not in the market, are not even being marketed by the developer. 00:38:42.210 --> 00:38:45.574 We have few assets that are already built. 00:38:45.673 --> 00:38:50.920 We have few assets that are currently under construction and it's not in the internet. 00:38:50.981 --> 00:38:52.141 You can't find it in the internet. 00:38:52.983 --> 00:38:54.786 You need an invitation. 00:38:55.166 --> 00:39:06.851 It's literally by invitation, although you have to submit the buyer's profile and that profile has to be approved, then you are welcome to see what these development has to 00:39:06.952 --> 00:39:08.172 offer. 00:39:08.193 --> 00:39:21.130 And we provide that service seamlessly because we hold great relationship with those top developers that are completely silent and off market and they don't market to anyone. 00:39:21.971 --> 00:39:28.800 And most of our clients today, they come through referrals, they come through law firms, they come through wealth managers. 00:39:30.320 --> 00:39:35.431 We play in the same domain, we just provide a different service to those clientele. 00:39:36.134 --> 00:39:51.902 And we are also planning a roadshow in New York in September, where we are going to educate a lot of people about how they can access Dubai directly from New York, from Global Office New York City. 00:39:52.514 --> 00:39:56.280 without the need to travel to Dubai. 00:39:56.501 --> 00:40:04.076 We could provide that seamless transaction and you don't need a lawyer in Dubai to buy a property. 00:40:05.277 --> 00:40:11.489 Everything is supervised and governed by the government of Dubai and the Dubai Land Department. 00:40:12.034 --> 00:40:20.244 that you don't need an attorney to pay them thousands and thousands of dollars to draft the contract or to manage your escrow or transfer your funds. 00:40:20.405 --> 00:40:31.280 Everything is done through the legal challenge, through the legal channels, which is the supervisory of the transaction is the Dubai government itself. 00:40:31.380 --> 00:40:33.563 You don't need a guarantee than that. 00:40:35.346 --> 00:40:51.538 And that's why global wealth is able to, to service those people seamlessly without even to stress out how I'm going to transfer my money, how I'm going to open a bank account down there, how I'm going to buy that property, or how I'm going to move my assets down there. 00:40:52.478 --> 00:40:57.224 We provide that service from A to Z from where they live currently. 00:40:57.525 --> 00:40:57.706 Right. 00:40:58.045 --> 00:40:59.166 And 00:40:59.847 --> 00:41:04.074 it's also important, I think, for them to know that we... 00:41:04.545 --> 00:41:08.791 we have multiple professionals who speak multiple different languages. 00:41:09.313 --> 00:41:20.329 whether it's, you know, Mandarin or, you know, Russian or, you know, or Arabic, you know, or Hebrew or whatever, you know, or Spanish or whatever. 00:41:20.429 --> 00:41:21.349 We have people. 00:41:21.550 --> 00:41:27.699 So if it's more comfortable for them to speak to somebody in their native language, we could provide that. 00:41:27.818 --> 00:41:38.134 And that the Global Wealth Office, our goal, and you and I talked about it, is that you can call us at any point in the day, wherever you are, and somebody... 00:41:38.753 --> 00:41:40.596 will be able to help you, right? 00:41:40.635 --> 00:41:51.186 The idea is that we are one world, we are one market, and our focus is not on everybody because it's impossible to provide services to everybody. 00:41:52.487 --> 00:42:10.748 But specifically for the people who desire a level of service that's very discrete in the highest quality of products and in the most efficient way process as possible. 00:42:11.911 --> 00:42:14.115 We are not just, you know, we're not salespeople. 00:42:14.155 --> 00:42:15.639 We're trustworthy advisors. 00:42:16.219 --> 00:42:20.369 And our relationships go not just... 00:42:20.802 --> 00:42:26.952 years, but decades and generations of people who have used, you know, provided that service. 00:42:27.472 --> 00:42:33.242 And on that note, thank you so much, Moonji, you know, for spending this time with me. 00:42:33.362 --> 00:42:43.677 And on behalf of Colin Migley and Kenneth Moore and Perry Law, this is Loy Carlos wishing you peace and good wealth.