Meteora is Unveiling a Business Philosophy Rooted in Customer Emotions, Integrity, Innovation, Teamwork, Continuous Learning, and Social Responsibility – Praveen Sharma

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Shaneer N Siddiqui : Real estate is exploding in the UAE nowadays. What do you think, are the key elements responsible for this trend? Is Dubai converting into a first[1]time buyers’ market?

Praveen Sharma : The real estate boom in the UAE, particularly in Dubai, can be attributed to several key factors. Economic growth, spurred by government initiatives and major events like Expo 2020 & Covid 19 management has attracted foreign investment and increased demand for properties. Additionally, Dubai’s shift towards more affordable housing options has made it accessible to first-time buyers, contributing to its transformation into a first-time buyers’ market. Overall, a combination of economic factors, government policies, major events, foreign investment, and affordability are driving the real estate boom in the UAE.

Shaneer N Siddiqui : Dubai has a booming economy; how do you see the role of trade fairs in the growth of the economy?

Praveen Sharma : Trade fairs are instrumental in driving the growth of Dubai’s economy through various avenues. They attract foreign investment by showcasing Dubai’s economic potential, provide networking opportunities for businesses to forge partnerships and collaborations, and showcase innovation and technological advancements. Additionally, trade fairs boost tourism, promote knowledge exchange through seminars and workshops, and contribute to Dubai’s reputation as a global business and trade hub. Overall, trade fairs play a multifaceted role in Dubai’s economic development strategy, contributing significantly to its continued growth and prosperity.

Shaneer N Siddiqui : How property fairs are helping real estate sectors and as per your experience, how the UAE’s Trade fairs are different from other countries?

Praveen Sharma : Property fairs are integral to the real estate sector, offering developers a platform to showcase projects, facilitate transactions, and network with industry professionals. They provide insights into market trends, promote branding, and boost sales. UAE’s trade fairs stand out due to their grand scale, international participation, focus on innovation, and strong government support. The country’s trade fairs are characterized by luxurious settings, diverse audiences, emphasis on technology, and government incentives, making them highly impactful for the real estate sector and other industries.

Shaneer N Siddiqui : So many private local and international real estate fairs are happening in the UAE. Don’t you think that it’s high time where government regulates property fairs to make them more credible for customers?

Praveen Sharma : The abundance of private local and international real estate fairs in the UAE prompts consideration for government regulation to ensure credibility and consumer protection. Regulation could establish standards for accurate information, promote fair competition, assure quality, enforce accountability, and stabilize the market. However, a balance must be struck to avoid stifling innovation and entrepreneurship. Finding this balance is essential for the long[1]term success of property fairs in the UAE.

Shaneer N Siddiqui : Recently we have seen Meteora developers named as leaders in sponsoring all the major events in UAE, how this sponsorship is helping to grow the Meteora developers?

Praveen Sharma : Sponsorship of culture and sports is a firm feature of our corporate and communications strategy. A great residence is only as good as the community it is built within. So, as a developer, we have an important role to play in shaping our neighbourhoods. Meteora is more than just a brick-and-mortar developer. We deliver lifestyle choices and indulgent experiences. The more people understand this, the more we are closer to fulfilling our purpose. This is what we are addressing by supporting world[1]class sporting events, musical evenings and art exhibitions.

Shaneer N Siddiqui : You never promote the name of your projects, like others. You are more focused on your brand name only. What is the thought process behind it?

Praveen Sharma : Meteora Developers’ approach of prioritizing the promotion of our brand name over individual project names is rooted in several strategic considerations. By focusing on our brand name, we are making it easier for our customer to recognize and identify that our quality standards remain the same across all types of projects. We do not have a B category. Every apartment carries the promise of Meteora, to offer exceptional living spaces.

Shaneer N Siddiqui : Till now, how many projects of Meteora Developers handed over and how many are in the pipeline?

Praveen Sharma : Meteora Developers currently has Six projects in various stages of planning, construction, and pre[1]sales. Two projects are scheduled for handover in June 2024, followed by another in December 2024, and a fourth in December 2025. We are launching soon in March 2024 a very prestigious project with 462,000 sq. feet sellable area & 580 units including Studio, 1BR, 2BR & 3BR.

Shaneer N Siddiqui : From a buyer’s perspective, what makes Meteora developers project different from others?

Praveen Sharma : From a buyer’s perspective, several factors distinguish Meteora Developers’ projects from others in the market. Meteora has shortest handover time of any project & we have very attractive payment plan. In addition to this the emphasis on quality construction, innovative design, prime locations, luxurious amenities, customer satisfaction. Buyers benefit from superior craftsmanship, contemporary designs, convenient locations, premium amenities, personalized service, and confidence in the developer’s ability to deliver exceptional properties. Collectively, these factors contribute to an enhanced value proposition for buyers seeking premium real estate opportunities with Meteora Developers.

Shaneer N Siddiqui : As a business leader, how do you see the role of the Indian and sub-continent population in the growth of UAE?

Praveen Sharma : As a business leader, I acknowledge the substantial role that the Indian and sub-continent population plays in the growth and development of the UAE. Their contributions span across various sectors, including economic, entrepreneurship, cultural diversity, trade, education, and community engagement. Their hard work, skills, and entrepreneurial spirit significantly contribute to the country’s economic growth, cultural richness, bilateral trade relationships, knowledge economy, and community welfare. Recognizing and leveraging the strengths of this demographic is essential for fostering sustainable and inclusive growth in the UAE.

Shaneer N Siddiqui : Before launching any project, what factors do you always keep in mind?

Praveen Sharma : Before launching any project, I meticulously consider several key factors to ensure its success and viability. However, the major factor is on financial capabilities to complete the project & Cash flow. We have seen many projects remain incomplete when market slowdowns so we keep always enough cash flow to ensure that the project will be completed on time.

My business philosophy emphasizes customer-centricity, integrity, innovation, team collaboration, continuous learning, and social responsibility. These principles guide decision-making and shape the company’s culture. To cultivate this culture, clear communication, recognition of aligned behaviours, training, feedback, and celebration of successes are integral. By embedding these principles, I aim to create a positive work environment where individuals thrive, teams excel, and the company achieves sustainable success.

Shaneer N Siddiqui : What is the business philosophy of Praveen Sharma? What are the most important aspects of a company’s culture? What principles do you believe in and how do you build this culture?

Praveen Sharma : My business philosophy emphasizes customer-centricity, integrity, innovation, team collaboration, continuous learning, and social responsibility. These principles guide decision-making and shape the company’s culture. To cultivate this culture, clear communication, recognition of aligned behaviours, training, feedback, and celebration of successes are integral. By embedding these principles, I aim to create a positive work environment where individuals thrive, teams excel, and the company achieves sustainable success.

Shaneer N Siddiqui : When did you start Meteora Developers, and from where the name Meteora came to mind What was the idea to keep the company name Meteora?

Praveen Sharma : In 2022, I, along with my long-time friend and owner of a large construction company, Mr. Omar Al Omour, a Jordanian national with 20 years of experience in the UAE, founded Meteora. The name “Meteora” draws inspiration from the magnificent rock formations in Greece, known as the Meteora Monasteries, which stand atop towering cliffs, evoking a sense of awe and wonder. Choosing this name reflects the company’s commitment to creating exceptional developments that epitomize grandeur, strength, and uniqueness in the real estate landscape. Moreover, “Meteora” symbolizes aspiration, pushing boundaries, and reaching new heights, aligning with the company’s vision. Meteora Developers aim to build projects that not only meet the highest standards of quality and innovation but also inspire admiration and leave a lasting impression. Overall, the name “Meteora” embodies the company’s ethos of excellence, creativity, and vision, symbolizing its dedication to shaping the future of real estate development.

Shaneer N Siddiqui : What are the future plan and immediate plans for 2024?

Praveen Sharma : Meteora Developers plans to focus on immediate objectives in 2024, such as completing ongoing projects on time, intensifying marketing efforts, exploring portfolio expansion opportunities, ensuring customer satisfaction, and optimizing operational efficiency. Looking ahead, the company aims to expand its market presence, diversify its portfolio, prioritize innovation and sustainability, establish strategic partnerships, and strengthen its brand reputation. These plans reflect the company’s commitment to achieving sustainable growth and delivering exceptional real estate developments that add value to communities and stakeholders.

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