Introduction
It was an honor to be invited to speak at ADGM (Abu Dhabi Global Market), an institution that plays a pivotal role in shaping the financial and economic landscape of Abu Dhabi. Given only a few minutes to share a message with my esteemed colleagues in the real estate industry, I focused on what I believe are the most crucial aspects for our collective success and the continued prosperity of this remarkable market.
Acknowledging Our Blessings: The Foundation of Abu Dhabi’s Success
My first message was a heartfelt reminder of the immense blessings we enjoy by working in this city and country. Alhamdulillah (Praise be to God), we are operating in a market that consistently facilitates transactions, enabling us to transform our lives and the lives of our families. This extraordinary opportunity is not by chance; it is a direct result of years of dedicated effort by the government to establish Abu Dhabi as:
•The Safest City in the World: A secure environment is fundamental for attracting talent and investment.
•A Global Magnet for Investors: Policies and initiatives have been meticulously crafted to draw in wealthy individuals and capital from across the globe.
•A Strong and Resilient Market: The continuous efforts to build a robust economic foundation ensure the real estate market remains vibrant and dynamic.
We, as real estate professionals, have reaped the benefits of this strong foundation—selling properties, securing rentals, and earning commissions. This success is directly attributable to the stable and attractive environment fostered by the government. Therefore, it is our collective responsibility to respect this foundation. This respect is not demonstrated through greed, but through responsible and ethical conduct that protects not only our individual reputations but, more importantly, the reputation of Abu Dhabi as a whole.
Embracing New Regulations: A Call for Professionalism
My second crucial message addressed the new regulations being introduced by ADGM and ADREC (Abu Dhabi Real Estate Centre). These regulations are designed to enhance the legal frameworks and systems for us as brokers and for the broader real estate market. While some may perceive these changes as a challenge, I firmly believe they represent a significant opportunity for those committed to working in a professional and ethical manner.
My advice is clear: don’t wait. The time to adapt and evolve is now. Educate yourselves. Deepen your knowledge of the market. Move beyond merely calling and offering projects. Strive to truly understand Abu Dhabi – its vision, its growth drivers, and its unique value proposition. Furthermore, gain insights into global market dynamics to better position this city on the international stage. This proactive approach to professionalism and knowledge acquisition is how we can give back, even a little, to the incredible opportunities we have received.
Ethics and Law: The Pillars of Trust and Growth
Finally, I concluded with an analogy that underscores the symbiotic relationship between ethics and law. We have been driving cars for over a century, and governments worldwide continuously develop laws to enhance road safety. Yet, in every country, the same fundamental truth is emphasized: laws alone are insufficient. True safety and order require both ethics and knowledge.
This principle applies equally to the real estate sector. Laws and regulations, such as those from ADGM and ADREC, are undeniably essential. They provide the necessary structure and guidelines. However, without a strong ethical compass guiding our actions, these laws alone cannot fully achieve their purpose of fostering a trustworthy and thriving market. When ethics and law work in tandem, they create a powerful synergy that builds:
•Safety: For all participants in the market.
•Trust: Among clients, colleagues, and regulatory bodies.
•Growth: Sustainable and prosperous growth for us as professionals, for investors, and for Abu Dhabi as a leading global real estate hub.
Let us all commit to upholding these principles, ensuring that Abu Dhabi’s real estate market continues to flourish with integrity and professionalism.
