The creation of SABA Properties JLT (formerly SABA Real
Estate) was triggered by the introduction of the Free Hold
concept in late 2002 & early 2003. The idea to capitalize
on the projected & envisioned property market opportunities
was a very difficult one to implement, as there were numerous
& monumental uncertainties & unknown elements attached
to it then.
The risk factor associated with this business weighted heavily
towards variables that no one could predict nor anticipate
with any degrees of certainty, and only a sense of optimism
and hopefulness could fuel the determination to execute the
idea.
As time vividly demonstrated, the uncertainties & the
associated anxieties increased as the market displayed a very
slow reaction to the Free Hold concept during 2003.
However, SABA stood fast & steady with the conviction
that the idea was both feasible and probable given the strong
commitments made back then by the Dubai authorities for the
property market & the general economic expansions they
had promised.
The company was so serious & adamant that it launched
not one, but three projects in a very short period of time,
and made long-term commitments to play a major role in Dubai’s
property market development. And incidentally this took place
at the time that very few property companies had the strong
conviction to go forward, and only handful entities ventured
into the foray.
"We projected
a very dynamic & vibrant future property market for
Dubai in January 2004, and we continue to believe that the
market will grow in size & value for a foreseeable future.
Time has so far proved us right."
