A Spring In The Desert

Singaporean investor Mohamed Nazir, who recently opened his real estate company in Dubai, shares his perspectives on entering the Emirati market.

- SUFFIAN HAKIM

THE PANDEMIC RESHAPED the global economic landscape, leaving a lasting impact on industries, supply chains, and consumer behaviour. As the world recovers, Dubai has emerged as a beacon of resilience and opportunity, positioning itself as a global investment hub. The emirate’s strategic location, coupled with its progressive economic policies and world-class infrastructure, has made it an attractive destination for businesses and investors.

Mohamed Nazir, a 38-year-old Singaporean who founded real estate agency Silver Springs in Dubai, is one of these investors. As Singapore’s investor class grows, his insights into the city provide a promising alternative to markets Singaporeans would typically invest in, such as Australia, the UK and China. AUGUSTMAN speaks with him to find out more.

We’d like to hear about your entry into the Dubai market. What led to that?

My entry into the Dubai market was serendipitous. My wife and I were considering a third property investment, but the high Additional Buyer’s Stamp Duty (ABSD) in Singapore made it less attractive to invest locally. While we explored other markets like Australia and the UK, the complex tax structures and high rates ultimately limited the potential gains.

I then came across advertisements for a Dubai property show. Intrigued, I attended and was impressed by Dubai’s tax-free environment, with no income taxes and just four per cent stamp duty, regardless of how many properties you own. The simplicity of this market, combined with its vibrancy, captured my attention.

Tell us about your work in Silver Springs and the type of properties you represent.