Month: June 2024

On June 22-23, 2024, the Object 1 sales department took part in a valuable training session conducted by the talented Michael Bang at the Hilton base.

With over two decades of experience as a speaker and trainer, Michael Bang is the creator of the highly successful 5-star sales system. His expertise not only helps businesses succeed but also motivates and inspires team members by recognising and nurturing their individual potential.

This was not just an ordinary lecture. Our managers engaged in practical exercises, immediately applying new strategies and techniques in real-life scenarios with one another. By the following day, these innovative methods had already been put into practice in our interactions with clients.

A big thank you to Michael Bang for his exceptional training and responsiveness.

View the training highlights here.

The United Arab Emirates is positioned to welcome over 6,700 millionaires in 2024, solidifying its status as the top destination for the world’s affluent population, as evidenced by the Henley Private Wealth Migration Report 2024. This marks the third consecutive year that the UAE has emerged as the most favored choice for wealthy individuals globally. The country’s appeal can be attributed to several factors, notably its zero income tax, “golden” visa programs, luxurious lifestyle, and excellent transport connections facilitated by leading airlines such as Emirates and Flydubai. The UAE’s proactive initiatives to attract affluent individuals have yielded significant results, with millionaires choosing to relocate from various regions including Europe, the UK, India, the Middle East, Russia, and Africa.

At present, the UAE is home to 116,500 millionaires, 308 centimillionaires, and 20 billionaires, placing it as the 14th largest wealth hub in the world. Dubai’s flourishing real estate market and favorable regulatory environment have also piqued the interest of European and British investors, positioning them as key contributors to the region’s economic landscape. Furthermore, the UAE’s high standard of safety and governmental efforts to protect and amplify the wealth of its residents further bolster its allure. Consequently, the UAE has outperformed the United States, which anticipates 3,800 millionaire arrivals this year.

Escalating taxes in Western nations have steered millionaires towards seeking out tax havens, with the UAE emerging as their top preference. Other magnetizing destinations for the affluent include the USA, Singapore, Canada, Australia, Italy, Switzerland, Greece, Portugal, and Japan. Conversely, countries such as China, the UK, India, South Korea, Russia, Brazil, South Africa, Taiwan, Nigeria, and Vietnam are expected to witness substantial outflows of millionaires in 2024. Notably, there were 120,000 millionaire relocations globally last year, a figure projected to rise to 128,000 in 2024 and 135,000 in 2025. 

The UAE’s continuous ambitions to establish itself as the ultimate hub for the world’s wealthiest individuals are evident, emphasizing its promising role in shaping global wealth trends. This trend suggests a sustained and growing appeal, positioning the UAE as a significant player in the global wealth landscape. As a consequence, the increasing presence of wealthy individuals will boost the country’s economy, driving growth and prosperity for years to come.

The W1NNER Tower is progressing on track with the original timeline. 
Key work completed:

• site mobilization
• site leveling 
• piling works in progress (63 piles done from 92)

Recently, Dubai has implemented the Al Sa’fat certification system, which evaluates residential projects during the development stage. If a project fails to comply with the established rules, the developer is denied a building permit.

Key requirements for all new residential developments include:

– Efficient use of water and energy

– Safe and durable building materials

– Rational planning and site selection

– Environmental conservation

Some companies are going even further by developing innovative projects to enhance the city’s ecology. Eco-friendly residential complexes are becoming a major trend in Dubai’s real estate market, and Object 1 is actively participating in this movement.

If you would like to learn more about our projects, feel free to reach out to us and our managers will be happy to assist you

Investors are increasingly recognizing the lucrative potential in Dubai’s thriving short-term rental market. With the city’s surging popularity among tourists and the allure of flexible visa programs enticing longer stays, the number of short-term rental properties has soared in 2024.

These properties promise a substantial 20-25% income boost compared to their long-term rental counterparts, making them an enticing prospect for savvy investors seeking higher profits.

Beyond the financial allure, short-term rentals offer owners a newfound sense of autonomy and control over their properties.

Liberated from the constraints of lengthy contracts, owners have the freedom to dictate when to rent out their space and when to enjoy it themselves, empowering them to maximize both their returns and personal enjoyment.

Dubai has announced an ambitious initiative called the Dubai Gaming Visa, with the goal of offering long-term visas to talented individuals in the electronic gaming industry. This large-scale project aims to establish Dubai as one of the top ten cities globally for the advancement of the gaming sector. 

The primary objective of the Dubai Gaming Visa is to create favorable conditions for entrepreneurs, investors, players, web developers, designers, and programmers, attracting them to Dubai. 

The initiative provides opportunities for investment in exciting projects, supporting the transformation of innovative ideas into successful businesses. 

This initiative solidifies Dubai’s status as a global hub for gaming industry professionals. 

The visa program is designed to foster an environment where both new and existing specialists will not only find employment but also pursue opportunities for professional growth and achieve their aspirations. 

With the Dubai Gaming Visa, Dubai is taking confident steps towards building a dynamic and thriving community that will actively foster innovation and progress in the gaming sector.

Construction at the RA1N project is active with continuous progress. Get the latest updates here:

• Key works were undertaken & completed slab casting, block work and plaster are progressing well
• 19th floor slab casted, block works on 15th floor, plaster works on 19th floor high-level map work was completed on floor 8
• 10,500 cubic meters of concrete were poured

The V1TER project is progressing and remains on track with the original timeline. Here’s the latest update:

• Key works were undertaken & compaction improvement works have been completed
• All foundation (pile caps) have been casted casting of ground floor columns and water-tank wall is in progress backfilling works up to ground level are in progress 
• M.E.P under-ground works have been completed 2,110 cubic meters of concrete were poured 

Exciting advancements are being made in the 1WOOD project. 

• Key works were undertaken & completed% excavation & soil compaction improvement works are in progress 
• All deep foundation (piles) have been casted and completed pile head treatment works are in progress pile caps foundation works are in progress