Ilonka Stoyanova - business development manager "Overseas properties" at Unique Estates - about the new position in the company and the prospects for working on the global real estate market. Dubai - the new investment hotspot that Unique Estates offers.
Interview by Sylvana Vasileva
Ilonka Stoyanova is one of the most distinguished professionals on the real estate market in our country, part of the Unique Estates team for 15 years now. To her responsibilities as a partner, team manager and member of the management board in the company, she recently added those of business development manager "Overseas properties". We meet her to discuss the new position, as well as the plans related to positioning the company on the Dubai real estate market and other interesting destinations around the world.
For me, the new position is an opportunity to further improve and upgrade my experience and knowledge, something I always strive for in my professional and personal life. I am happy to have the chance to work on the positioning of Unique Estates on the global real estate market and I accept the new challenge with great excitement. Our initial focus is Dubai, as one of the hottest investment destinations in the world right now. This place is very special for me, as my career path and my formation as a professional started in Dubai. For over eight years I worked there for companies in the luxury segment. Since then, every year I excitedly return and rediscover the new things that happen in the metropolis constantly.
As the business development manager "Overseas properties" at Unique Estates, I will deal with the coordination of relations with our partners - companies that are members of Leading Real Estate Companies of the World® and Luxury Portfolio International, as well as with all our clients who wish to invest in real estate around the world. Since 2016, Unique Estates has been part of the largest international network of the world's leading real estate companies, with more than 550 members from 70 different countries and over $55.8 billion in listed properties for sale . The high standards and level that are maintained in the work of each of these companies gives us the mutual peace of mind that by exchanging clients, they will be well served worldwide. In this way, Unique Estates offers quality and comprehensive service and assistance in buying a property in different points of the world. The company is also available to clients who have already invested in properties abroad and wish to sell them.
First of all, this membership gives us a sense of prestige and pride in belonging to this elite club that not everyone can be invited to join. For us, contact with companies that are members of Leading Real Estate Companies of the World® and Luxury Portfolio International is an opportunity to draw on the experience of some of the most prominent specialists in real estate worldwide and to implement these successful practices in business in our country. An opportunity to continue learning and building on our skills and knowledge. The membership also gives us access to information on market analysis, consumer attitudes, trends in the field of luxury properties, goods and services, interesting marketing strategies and new approaches in working with clients, etc. I consider all of this to be of great benefit to each of the member companies and the teams working in them, as it is a source of useful information, ideas and inspiration.
This year, Unique Estates was invited to participate with two speakers in the program of the Global Symposium of Leading Real Estate Companies of the World® and Luxury Portfolio International in Portugal, which was an exceptional honor and showed the high appreciation of the company's performance. The event once again brought together the world's best real estate professionals from leading companies around the world. We had the opportunity to exchange experience, useful practices, share stories and impressions from our work and learn about the latest trends in the industry. The direct contact with representatives of the companies that are members of this "elite club" during the conference gave us the opportunity to discuss in more detail the possibilities for partnership and specific projects on which we will work together in the future. I look forward to all of this with great excitement.
For our clients, Unique Estates' membership in Leading Real Estate Companies of the World® and Luxury Portfolio International means comfort and security in real estate investments anywhere in the world. Because they can count on the correctness, quality service and high standards with which the company has established itself as a trusted partner, now not only on the Bulgarian, but also on the global real estate market.
Dubai is currently the most popular place for investment, business and travel. It was the destination that quickly recovered from the consequences caused by the pandemic, attracting the attention of the world with its extremely favorable conditions for living, investing and working.
A number of studies have shown that Dubai offers the best lifestyle for people looking to relocate or invest abroad. The UAE ranks among the safest places to live in the world. There is no annual residential property tax and no income tax in Dubai. The rental yield is one of the highest globally. All cases related to the real estate market are regulated by a special agency that applies a strict framework of rules and laws to protect the rights of investors, which reinforces the security of the investment and helps the strong development of this industry.
The United Arab Emirates is trying to rebuild the country's economy and attract investors, as well as successful and talented people from around the world. This is facilitated by the competent migration policy of the country, which simplifies moving to the UAE and promises a whole range of bonuses. The government provides investors who purchase property above $270,000 (AED 1 million) with an investor visa, which entitles them to an Emirates ID and driver's license. When purchasing a property over 2 million AED, the investor secures a Golden Visa, which gives him even more opportunities for business development and establishment in Dubai.
The city's strategic position, which implies access to 70% of the world in a maximum of eight hours' trip, ensures a serious flow of people and income in its economy. The place is also particularly popular as a luxury tourist destination. Based on factors such as climate, education, leisure opportunities and availability of quality restaurants, Dubai tops the list with the highest rating. It is one of the fastest growing cities in the world, with modern infrastructure, high-tech buildings and facilities and perfectly organized urban planning.
As we know, Dubai hosts many sports and cultural events that attract luxury connoisseurs from all over the world. Leading luxury brands from the world of architecture, design, fashion and the restaurant and hotel business are positioned in the city as one of the prestigious destinations in the world. Above all, Dubai is celebrated as a place that skillfully combines a mix of different cultures, nationalities and religions and people live in tolerance and acceptance of each other.
All this inevitably arouses serious interest from investors from all over the world and leads to the rapid development of the real estate market. In response to these trends, the initial focus of Unique Estates in the company's new business line - "Overseas properties", is precisely the Dubai market.
As I said, the company is currently working intensively on this new business direction, discussing all possibilities for cooperation with our partners around the world. In this project, Unique Estates will partner with leading companies in the field, and we will be able to offer our clients properties from some of the most established construction companies in Dubai. Our official partner in the UAE is Bonne Apart UAE, proven to be one of the market leaders. The company offers a high level of comprehensive service, whether it is regarding a property investment, starting a new business or establishing clients in the UAE. Their assistance for clients includes business establishment consulting, project management, financial and accounting services, investment and marketing strategy, asset planning and more. During our visit to Dubai at the end of November, we organized a working meeting with the management team of the company and discussed specific parameters of the partnership between Unique Estates and Bonne Apart UAE, as well as the projects and services we will offer to our clients in Bulgaria.
It was also quite useful to visit the leading real estate exhibition in the UAE - CityScape Dubai, which took place on November 21-23 at the Dubai World Trade Centre. We visited the booths of over 70 of the featured exhibitors, getting detailed information on the concept of various modern housing projects, trends in construction, architecture and interiors, as well as the price levels and payment schemes there. Our stay in the city continued with meetings in the representative showrooms of the two largest investor companies in Dubai - EMAAR and DAMAC. With impressive visualizations via multimedia and modern layouts, they presented their leading projects that will shape the new look of Dubai as a city of the future that attracts the attention of investors from all over the world.
The Unique Estates Dubai project has huge potential, as everything, including the city's urban plan, suggests that Dubai is yet to grow and develop. Every year when I go back there, I rediscover it, because everything is unfolding extremely quickly, building on an impressive scale. Famous architects, entrepreneurs and visionaries from all over the world are working on modern and innovative projects in Dubai, which attract attention with the scale, concept and innovative materials and technologies invested in their realization.
We presented the investment opportunities in the metropolis and the specific projects that Unique Estates will offer in Dubai at a special press conference, as well as at the thematic event Dubai Property Show, which took place on December 2nd and 3rd at the company's office on 10 Oborishte str.. This was also the first exclusive exhibition of Unique Estates Dubai, which the company organized in cooperation with our official partner in the UAE – Bonne Apart UAE.
As part of the event, our team held consultations with the guests present on what are the investment opportunities in high-yield property in the international business center of Dubai. A selection of specially selected projects was also presented, as well as more information about the advantages of investing in the global metropolis, including: 6-10% rental yield, 13% short-term, 0% VAT for residential properties, flexible payment schemes and a favorable social environment.
Read more about why now is a great time to invest in Dubai HERE.