To Be, Not to Seem

True quality reveals itself through action, not through bold proclamations. Azat Yermembetov, founder of AYS Property Development, believes that creating elite property demands attention to every detail, from the first client meeting through to aftercare service. In this column, the company's CEO, Yulia Loshchukhina, shares her experience in the Dubai market, reveals the secrets behind successful projects, and explains why this philosophy has become the key to earning clients' trust.

The end of 2017 marked the beginning of a new chapter in our life. It was then, at the turn of 2017-2018, that AYS Developers was born. The name emerged simply from the initials of Azat Yermembetov and his wife Yekaterina. We considered other options, including Italian names with particular significance, but ultimately settled on this concise abbreviation, now recognised throughout Dubai's property market.
From the outset, we set a clear objective: to establish ourselves in Dubai's elite property segment and become competitive alongside distinguished companies. Our focus lies with niche buyers, end users and investors. The company weathered the difficult pandemic years, managing not merely to survive but to strengthen its market position. Today our portfolio includes seven projects, with preparations underway for another substantial development.

In 2023, we achieved a landmark moment by entering the Guinness Book of Records with the largest property training event. The idea emerged through collaboration with Dubai Land Department and their trainer, Dr Noor, with whom we work on team development. Around 2,000 people attended, with speakers including owners of such well-known agencies as Provident and Fidu, the RERA director, and Dubai Land Department representative Mahmoud Al Burai. Participants received Guinness Book of Records certificates, and the event exceeded our expectations in scale.

Collaboration with Dubai Land Department has proved crucial to our success. Over recent years, the department has significantly improved its work with developers and investors. Processes have accelerated, comprehensive support has emerged, and legislation has been refined to ensure investor protection. Sheikh Mohammed cares deeply about Dubai's image as a reliable and secure brand, which reflects in the work of all government structures.

Dubai Land Department's client service deserves particular praise. Should a problem arise, one can send an email and receive help resolving the matter, with meetings arranged if necessary. They don't obstruct; they help complete projects and solve issues.

One key security measure for investors is the escrow account system, regulated by Dubai Land Department. To transfer funds to a contractor, one must pass physical inspection by both bank and department, proving that works have actually been completed. This differs markedly from the situation a decade ago, when developers could abandon projects and disappear.

Digitalisation has also improved matters. Through dedicated applications, one can now verify the Title Deed, check whether the property carries any encumbrances, and access information about one's property even without a residence visa. Investors can monitor whether their property has been let, for what sum, and how it performs.

Currently, AYS Developers has six projects under construction. Three sit in Jumeirah Village Circle (JVC). This area appeals to both investors and end buyers thanks to its developed infrastructure: shopping centres, hospitals and schools. Although the area is quite dense, all our projects embrace the ideology of 'all amenities within one building'.

In today's hectic pace of life, when people spend long hours at work and in traffic, the convenience of 'everything in one building' becomes decisive when choosing property. This matters because it affects both purchase and rental prices. We create infrared saunas in our buildings, coworking spaces, children's play areas, recreational zones for residents with table tennis and billiards. On the rooftops we install jacuzzis for residents, multiple swimming pools, and padel tennis courts.

Our three other projects are boutique developments on Dubai Islands. These represent an absolutely premium class. Initially we thought Dubai Islands would cater more to end buyers, but experience showed that investors are no less interested in this area. Over the past year we've observed dynamic growth in the price per square foot on Dubai Islands, both for land plots and residences.

On Dubai Islands we have the Heritage Collection. The pools use salt water rather than chlorinated, which clients appreciate. We've signed a contract for Scavolini kitchens from Italy; the doors will be Italian too, Bertolotto. This truly is a niche, premium segment.

In conditions of fierce competition, we constantly seek ways to offer clients something fresh and special. Beyond standard amenities such as swimming pool and gymnasium, we create yoga rooms, game rooms for residents with billiards and table tennis. Our latest five projects will feature cinema rooms for residents, an interesting feature our clients have already appreciated. On a day off, residents can invite friends, relax in the barbecue area and watch a film together.

We emphasise healthy living, which is why we install infrared saunas rather than conventional ones. Our buildings include a business lounge for residents with an espresso bar. Imagine: if your flat is noisy but you need to conduct an important Zoom meeting, you can go down to the business lounge and work there in comfort.

On Dubai Islands, each of our three projects has two swimming pools, outdoor jacuzzi, yoga zone inside the building and on the roof, barbecue area. We've even created a squash court for residents. Now that road traffic in Dubai has become extremely intense and people spend up to two hours commuting, it's vital that a residence offers all necessary amenities.

In the new project we're considering in the Majan area, we plan to create a running track around the building with rubber surfacing. This is quite a substantial project, and we want to offer residents maximum possibilities for comfortable living.

Regarding layouts, we consider the habits of people from different countries. For instance, people from some countries value having a proper entrance hall, a space where one can place a console for keys and shoes, hang outdoor clothing. Although rain is rare in Dubai, such a zone is necessary for comfort. When the architect provides us with a project, we analyse the layouts and, if corridors are too small or absent, we try to modify them.

We also prefer to create spacious bathrooms. Particularly in two and three-bedroom flats, where families with children typically live and there must be adequate bathroom space. In our two-bedroom flats we always plan both a shower cubicle and a bathtub, because when designing we ask ourselves: 'Would we ourselves find it comfortable to live here?'

Over the past couple of years, a trend towards reducing flat sizes has emerged in Dubai's market. Many well-known developers, whose projects from five or six years ago featured flats 20% more spacious, have begun shrinking dimensions. This relates to profitability: smaller flats allow for a higher price per square foot. Investors don't always notice this, but for end buyers it matters greatly.

Another interesting trend is private pools in flats. Now they're placed everywhere: in studios, one-bedroom, two-bedroom flats. When we planned the project on Dubai Islands, we weren't certain this would be in demand and wanted to create half the flats with pools and half without. But demand proved so strong that we had to equip all flats with pools.

Technologically this isn't complex, but it's expensive. Construction costs rise significantly due to increased load on the building's structure. Special waterproofing is required, along with strict compliance with Dubai Civil Defence requirements for balcony railing height. One must create special steel constructions with quality waterproofing, which increases project cost by roughly 15%. But there's demand for it, so we're willing to invest.

Maintenance of private pools is also considered. The pools in one and two-bedroom flats are small, approximately two by three metres. The owner can drain the water for cleaning themselves, whilst our management company MODO, one of the best in Dubai's market, offers pool cleaning services. Through an application, residents can order this service at a reasonable price: 300 to 400 dirhams per cleaning, required once every month or two.

We also pay attention to balconies. Many developers now try to reduce their size, but we believe that in two and three-bedroom flats, balconies should be sufficiently spacious to accommodate a table, chairs, create a small relaxation area, and allow for drying laundry. Sometimes, driving past certain buildings, one sees balconies where it's impossible even to place a chair. This surprises me; one must think about people's comfort.

Regarding promising areas in Dubai, I believe there are no undervalued locations in this remarkable city. If one compares Dubai Islands eighteen months ago with now, the difference is enormous. Even if an area is currently less popular, the situation might completely change within a year. We can only speak of areas that are just beginning their journey towards success. For us, such promising zones are Majan and Dubai Land Residential Complex (DLRC).

Majan is an area neighbouring Barari, which developed slowly for a long time. But now quality developers are entering: Samana, Tiger, Meraki. The area offers magnificent views and good transport links. After Nakheel, Meraas and Dubai Properties merged into Dubai Holding, active development of this territory began. Samana already has an interesting large-scale project there with private pools in studios and one-bedroom flats.

DLRC is also attracting serious players: MTA, Ellington, Leos. This is an area where one can still enter at an attractive price per square foot and see good capitalisation. Over the past year, land value there has grown by 30%, with more distinguished developers choosing this location for their projects.

Speaking of Dubai's property market generally, over the past couple of years we've witnessed exceptional growth, unrealistic for other world regions. In the medium term, I expect this positive momentum to continue. I can judge at least by client numbers: even in July, traditionally a quieter month due to holiday season, demand didn't fall and we easily reached our target indicators.

What's particularly encouraging is the growing number of institutional investors from Central Asia entering the market, ready to invest in substantial portfolios from twenty million dollars. They're especially drawn to projects on Dubai Islands and Palm Jumeirah.

In the long term, the market will certainly develop, shifting towards projects with more advanced infrastructure and cutting-edge technology. We're actively implementing smart home systems in our projects. Moreover, we're currently working on integrating these systems into building management in partnership with MODO.

MODO offers interesting solutions based on artificial intelligence. For instance, an AI system regulates cooling in common building areas. In standard buildings, corridors are cooled to a fixed temperature, say 16 degrees. Smart technologies adjust cooling according to actual needs, which saves residents money. In one project, savings on service charges amounted to 2.03 dirhams per square foot, roughly 15% of the total sum. If the service charge was 16 dirhams per square foot and became 13.97, for a flat of 1,200 square feet this represents quite substantial savings.

It's interesting to observe differences in approach to property selection among clients of different nationalities. Our compatriots always meticulously calculate the price per square foot, pay attention to storey count, flat position within the building. Buyers from India and Pakistan often look only at the total cost, not analysing what they receive for this price in terms of smaller area. For example, they might compare our studio of 510 square feet at a certain price with someone's studio of 380 square feet for the same sum, without considering the size difference.

Indian clients also often pay attention to flat positioning according to feng shui principles: which compass point, which direction the windows face. Ninety-five per cent of Indian buyers consider this factor, and we even include this information in our brochures.

For Chinese investors, the main concern is return on investment calculations. They want to know for how much the flat will let, what yield it will bring, whether we can take it under management and guarantee 8 to 9% annually. The Chinese prefer the 'safe side' and place more trust in developers who can guarantee buyback after a certain period or assistance with resale.

Once an interesting client came to us, a local resident who wanted a penthouse on Dubai Islands. Our penthouse didn't suit him; he didn't want to live close to the sea because of humidity, but he liked the location amidst the park. His request astonished the entire team: he wanted the penthouse to rotate! He claimed that some developer had offered him a penthouse that could rise and rotate, allowing him to see both sunrise and sunset. Naturally, this is technologically unfeasible, although the client was prepared to pay. We often recall this story in the office with a smile.

Collaboration with brokers forms an important part of our business. Today, brokers in Dubai demonstrate high qualifications compared with the situation several years ago. They understand construction quality well, know about timely completion of properties, and can provide clients with all necessary information for investment decisions. We particularly enjoy working with Metropolitan agency. We only began actively collaborating with them this year when entering Dubai Islands, and they present our projects even at their exhibitions, for instance at Blue Waters.

We do everything possible to ensure clients receive accurate information about our projects. Given that in Dubai alone there are 320 active developers, not counting Ras Al Khaimah and Abu Dhabi, brokers sometimes might unintentionally misinform clients. Therefore, we always invite brokers to bring clients to our office for detailed presentations.

Regarding marketing, we actively promote our projects through various channels. We have stands in shopping centres, advertising in Emirates and FlyDubai. This helps attract direct clients, though brokers remain an important sales source.

Our company's philosophy is best expressed by our favourite phrase: “Better to be than to seem.” In Dubai, everyone claims to build with quality, but true quality is a comprehensive concept. It begins from the moment a client crosses the office threshold: how they were greeted, how they were served, what printed materials were provided, what information and how it was conveyed. Then comes construction quality, quality of flat handover and, certainly, aftercare service.

Our first project was completed in 2022, and we still maintain contact with clients. If any questions arise, we immediately contact the management company. Of course, it's impossible to make 100% of people absolutely happy, but we strive to ensure maximum comfort for the greatest number of residents.
We derive genuine pleasure when people enjoy living in our projects. Naturally, business must be profitable, but it's especially gratifying when clients return for new flats. We have buyers who purchased property in our first project in Arjan and are now buying on Dubai Islands. This means we're doing something right.
One mustn't merely appear to be a developer who delivers quality and builds elite housing; one must actually be one. This requires attention to every detail at all stages: from design through to aftercare service. Such an approach has allowed us over five years to become a noticeable player in Dubai's elite property market, survive the pandemic, and build a loyal client base.

We're now preparing for fresh challenges and opportunities, continuing to follow our principles and strategy: creating space for comfortable, quality living. This is precisely what clients expect from us, entrusting us with their investments and choosing our projects for their lives.