Tanmia – an investment development programme
A giant step in creating transparency, dialogue and cooperation in the real estate market
By Mohanad Alwadiya
Special to properties
The recent news regarding Emaar Properties joining forces with Tanmia in reviewing it strategies, plans and initiatives is great news for Dubai’s real estate scene. The objectives of Tanmia are sound and appropriate to what is required in Dubai, given the challenges being faced by the real estate industry.
Tanmia is an investment development programme that seeks to create comprehensive investment opportunities and offer excellent support services to new investors. In creating an environment of transparency, dialogue and cooperation, the Tanmia initiative will assist in the making of informed decisions by stakeholders on a variety of real estate investments.
The environment created by Tanmia increases the likelihood of developing sustainable real estate projects while assisting in the acceleration of the revival of the market. By including public and private institutions considerations, the Tanmia initiative has the opportunity to synchronize the goals of policymakers and developers, making macro-planning and micro-execution for the development of the emirate more streamlined for efficiency, relevant for effectiveness and appropriate for the well-being of the economy and society as a whole.
The benefits for the developers are obvious and their active participation in this initiative can only bring rewards. If a lesson has been learnt from the evolution of Dubai’s real estate industry, it is that rampant opportunism and shortsightedness have to be replaced by informed, astute and collaborative decision- making. The former have contributed significantly to an industry which is way out of equilibrium today.
To have a healthy industry requires much forethought, analysis, astute planning and, given the competitive nature of the markets today, world-class execution. This can only be achieved by creating an environment of transparency, support and idea sharing to improve the quality of decisions- making processes and the eventual decisions themselves.
The Tanmia initiative is one of the great promise. However, as with all such initiatives, just how effective it is will be totally dependent upon the willingness, participation and commitment of all the industry stakeholders.
The writer is the Managing Director of Harbor Real Estate
Tanmia assists in the acceleration of the revival of the property market.
It increases the likelihood of developing sustainable real estate projects.
It’s an opportunity to synchronize the goals of policymakers and developers.