Real Estate Billionaire: How To Choose, Invest & Sell A Property? - BNW Founder | FO365 Raj Shamani

0:00In 3 years, going from just a broker to where you are is incredible. What is this in Dubai that people should invest in Dubai? Hi baby, come to Dubai. This is the reason. So the taxation is only 9%. It's the safest city in the world.

0:19And you are getting tremendous amount of appreciation. So if I invest in India today in a property, what can I expect in the next 2-3 years? If you will do the smart investment, it can be doubled in the next 3 years. Can you invest in India here? There is a route called LSR route, wherein you can invest 250 ,000 US dollar every year. You can invest in a lot of money, you can invest in a lot of money. If you pay this, do you get access to a few people who have never been there? No one has to be honest with you. And those who value you, don't have to value them. Tell me the top 5 principles that you should be an entrepreneur when you start something.

0:59So what have you learned from?

1:06team

1:20back and also a big billion dollars empire made in Dubai. Our guest is CA Ankur Agrawal, founder and chairman of B &W Development and billionaire real estate developer. This episode, we will know how to start real estate investment. Can every middle class person buy real estate? Dubai's real estate is growing so much? India is better investing than Dubai? and investment for the first time that Госудomo and both players can create a great empire. And we'll explain what happened as the end.

2:19I will break down this journey. In 2021, April, I started this company, Bricks and Woods, Brookridge LLC. And in four months, I hired one person. it took me four months to hire one person because nobody was believing me at that time what were you trying to sell then I was not trying to sell anything I was just hiring people to do the real estate brokerage for me, means agents I was looking for agents but why didn't someone believe you? because there was no background, no see when you have too many companies on your platter, you will go for the best that time how somebody could believe me how they will come and see that okay this will be the future in next four years you interview me four years before so that's the thing so they didn't say they didn't do the work with me it took me four months but when it all started with God grace with all the things went in our favor we successfully did a lot of deals and we did underwritings you understand underwritings no underwritings means like you will put a right on particular inventory units apartments whatever it is and you will be selling by yourself means like let's say I can put an underwriting on a certain developer with a certain amount and with certain number of units means this means 50 units is my I paid some amount and this rate is my Okay So upfront So you have 4 months I have a person one of your agents No, I have a person I have a person I have a person I have a person So I have a person I have a person A person A person A person What is this?

4:20No, brokerage means any developer Which you believe would be a person who would be a person وہ بیچتے تھے ہاں basically جو اس customer کو صحیح لگتا تھا کہ مجھے یہ خرید تو ہم اس کو help کرتے تھے simple developer ہمیں commission دیتا تھا تو یہ business تھا اور یہ کب تک چلا یہ چلا اور چلتا رہا ہے دو سال یہ چلا قریبا دوڑا سال تو 2023 تک یہ چلا Okay and اس میں how much money did you make here i started in a 1000 square feet office in 2021 april and we moved to a 8000 square feet office in february 2022 means in how many months 9 months and at that time i was having around 160 people i had 160 people in 9 months you said in 9 months you reached 160 agents so So, you'll understand the flow.

5:20How did it happen? Because how many people do business in property brokerage? This is hyper scale. So, the best investment is the HR investment, which I believe in. So, whatever I was earning, I was reinvesting it in my own company itself. So, I was having a dream that I will be having like 400-500 agents working for me. so the more the number of agents more the money you will be investing in the projects in the developers and you will get the more sales example let's say with the five agents you are making five deals a month and let's say you are making x money let's say okay let's talk about INR you are making a crore rupees commission right so what you will be five people with five people now it's easy in Dubai it's easy because commission is pretty high okay okay and luckily all the people with whom I was working with, they performed.

6:12So, how does it work? We invested in the marketing, we invested in the people, we invested in the services which they want. Like, whatever they are asking for. Right? I made one deal, I also invested in that money. I invested in two deals, I invested in two deals, I invested in three deals, I invested in three deals, I invested in three deals, I invested in three deals, I invested in the house as much as I was very bare minimum. So, when I invested in the whole money, reinvested, so what do you think in brokerage company in what kind of money? Yes, in brokerage company there is money in salaries which you hire people.

6:45Another money is marketing. Third money is rentals. In marketing, you mean brokerage yourself? No, you are doing the marketing, doing the lead generation for the property. Means you are finding the prospective buyers. Okay. So you have reinvested that money. And how did that do marketing? Marketing is like social media platforms and Google AdWords. and all these things. Digital marketing and there are many ways. But like Dubai is a market is major about deal flow access. If this is a new building in this building who will get access to which agent or registered agent that he will get to buy. So you were new so how did you get the right properties to buy?

7:27It's an organic process. One more thing the market which you're seeing today was not exactly the same back in 2021. In 2021 the market was recovering from the COVID so there was not many customers there and there was not the developers were not doing wow at that time they were even struggling for their sales now you see the market totally different way okay so 2021 we had something else in 2021 we had a deal and we were selling number of people see let's say you are working in some brokerage house and you are getting 12 ,000 salary so I can offer you 15 ,000 I can offer you better commission so why you will not be working with me that I understood that people take it take it put it in the market and put it in the market and then it was simple but the deal flow already was available because the real estate is empty sir look at 2021 the market has kicked and it was not in Dubai it was worldwide so you say that the window was the best again destiny worked out for us I didn't know that the market will be like but my decision was the right that I had reinvestment how would you actually target people who would buy target customer it's the job of an agent if your agent closes one deal in a month it's a humongous it's like enormous amount of money how much amount of money if it's 10 crore apartment how much commission is it then why don't you do this agent if it's 50 lakh 1 crore it's a sharing basis na 60 40 50 50 there are different mechanism the salary plus them salary plus you need to have a license to do the brokerage first second you will have to be registered with every developer so individually you will not do that and from where you will get the marketing expense so it's a full ecosystem only then you are getting those leads if i'll pull out one thing out of it then it's waste so as an agent independent if someone is a broker then he can't get so many leads as much as you can get because of the ecosystem he has to invest money tell me top 5 principles that a entrepreneur should be in day 1 when he starts something it depends on business to business first of all for you in this real estate business first of all talk only up to that level where you can deliver you heard that story one person says that I am very happy from you and what do you want he says that I need the land how much land he says that where my gaze goes I need the land so the king says that no matter I have sunrise sunset time you you can run where you can run wherever you can run where you can put your flag but there is one condition that you can run sunset before you can run this place you can run the same way so the person goes and goes now the sun is on the way and run and run so I will run so I will run so I will run when they do it, when they come back that point of view they go to death and the last one the land they need to be 2 gaj so the story is 2 gaj and this you mean that people this is the problem you run so far wherever you can come back you do so much ہی کیجئے جتنا آپ deliver کر سکے.

11:19So, یہ آپ کا پہلا principle. Pہلا principle. دوسرا principle ہے. You should learn to say no. To what? To a situation. Over commitment مت کیجئے خود سے. لوگ ایسے ادھر کے market میں, دبائی کے market میں کیا over commit کرتے ہیں? کچھ بھی کر دیتے ہیں نا سر. آج, ابھی یہ لے لیجئے. یہ تو اتنا تو ہو ہی جائے گا. یا میں کرا دوں گا. My experience with property brokers I'll tell you and this is India? No, no. No, no. Yes. Yes. If I buy commercial properties then they grow if I buy renting it best for them but I say that so I say it I don't test people but okay I just want I tell you that people in my circle are good.

12:17So what's the third principle? Your integrity level is so strong. Explain. I give you now$1 million without any interest. And I say that I don't need to give you after one year. If you have a feeling that I give you a million, then you will get a million. So you are a winner. Fair. okay coming back towards initial time that you have built a whole ecosystem you have brought your agents the agents sold the whole money you had to give in company and other people hire reinvestment again and again buyer profile who are the most number of people who are the kind of people who buy in Dubai or in UAE it's all across the globe who can be able to buy anywhere from anywhere give me some percent it's 100 buyers most number of the people are from Russia and America UK Indians ka kitna profile see Indians ka joh profile hao humare liye itna applicable nahi hota hai because humare we basically deal in luxury properties to us mein Indians ka profile jahater mediocre they like to have those assets which get them the more rental values luxury properties mein you will get lot of appreciation so customer base is a little different but yes Indians also are normal so what was the base price anything it's like 1 million dirhams even less than that so 20-25 crore properties no 2 crore 1 million dirhams 1 million dirhams that is for Indians right you said that they have anything you have 20-25 crore properties definitely anything anything you just have to do the AML check anti-money laundering check okay that's important it's a compliance okay so that's a compliance so first if you have a profile you say that buyer profile you sell all luxury properties mostly and Indians sell less 10 % 20 % yeah definitely 10-15 % maximum percentage Russians at that time when I was doing the brokerage yes because they were because of war because they were putting full money there do you feel Dubai's appreciation was also in wars because it was a war people were moving from there and this money might go back this is misconception actually a lot of people talk about this a lot of people talk about it because they don't know the fact just about the global economy boom the credit should go to the initiative of the government only they have investing heavily in the infrastructure and this is the reason why people wants to come here so you don't feel that war can take Russia that's a misconception so the money flows so why specifically Russians are investing here so sir, everywhere you go how much FDI is in India how strong it is after that you understand after the Covid the property prices in India also it's getting almost double but it's Indian locally Indian is selling but the FDI is very high it's very low

15:40we are almost touching 4 trillion dollar economy now so at that time I think pre-COVID it was 2 trillion so it almost doubled so you feel that the global boom will be going to be regardless of wars in the UAE specifically it's just because of the initiative of the government so then that boom came after COVID the world wanted to come here because you have seen that the property prices are growing and infrastructure is getting better. So this was the flow that you actually enjoyed. Okay and that's why everybody enjoyed and your company became bigger. Now, 160 agents in 9 months, you have made reinvest reinvest reinvest.

16:27Now, you haven't released anything from the company. It hasn't released anything from now. Okay. Now, there hasn't been anything from now. But lifestyle has been upgraded. kari hoi is us mei itna paisa nahi lagta hai thik hai na certain system ke baad you don't need much my life my family is very simple okay so aisa we don't spend too much and wo abhi 160 agenting jab brokerage business taab tak invest kar diya ta lifestyle bada li thi nahi shahas tak invest karte hai nahi wo usse lifestyle bada hi thi lifestyle thoda definitely it get improved but it's not like that you will be buying a supercar every month okay aisa nahi hai na it's not wastage of money so we don't do that, a little two cars you bought and then that's your necessity, that's it alright, then what happened after that?

17:13so I was doing brokerage for entire 2022 and we invested money in our ecosystem only, we hired more people, more people, more people and we were promoting lot of projects we were doing lot of marketing everything was very good, maximum which area you were selling where did you sold the most specifically we sold so much so much we were number one at one time nice so you have to pay a lot of money and pay a lot of money how much money you have to pay a lot of money give me some number units price revenue we were number one at that time around we were selling like 300-400 million dirhams annually so this was your 2022 what happened what happened so now what exactly we did at that time I believed on a news that I told you before that a casino is coming in in the Middle East that news was published in Arabian business back in 2022 okay so the people to whom we were selling those apartments and all these things I asked them why don't you buy a plot there and we convinced them in the past of the past we called it Al Marjana Island so I asked him why don't you buy a plot there and somehow we got them convinced and they bought the plot then we designed one business idea which I it was kind of a PMC structure wherein we were managing the whole development show okay so you are an investor money is yours not mine because I was not having money to buy a plot but I want to be a developer so I thought of making a development brand on somebody's assets so land will be another but I shall be developing the project we will also make we will also sell so the whole money which I earned out of brokerage I invested the whole money in the PMC in my infrastructure for the development PMC is what?

19:36PMC is Project Management Consultancy Okay Why did you pay for money? HR you need people you need people in marketing you need people in sales you need people in project you need people in administration you need people in finance PRO legal you need lot of people it's like paying around 3-4 million salary a month. Okay so jitna pisa we hain se kamaya wo eek idea pe lagaya kye ek idea meri paas. Idea pe lagaya yes. Meera idea hai ki main udar jitna land hai joh bhi meera land aapka hai joh bhi udar land hai. Beecho ga mein okay. Banao ga mein beecho ga mein thiq hai. Toh ab iske liye aapko concept, idea, design, ye sab barana jitni jayze gogi sab karay.

20:22Sab kuch hum karay. Toh joh bandha plot khari da raha hai since he is not a developer but he trust on us okay so what was your bias was that they were selling plot which had already a favor exactly so they had trust that he bought the plot from that so he said that plot now PMC we have built infrastructure after we asked them a sweat from them I said that I have sweat what is sweat equity equity in the project if you 10 % 20 % 25 % So I got profit. Let me manage the show. I am investing in my infrastructure. HR infrastructure. I am managing the project. I am doing everything. So I got two things.

21:10One is my brand. I got B &W. One is Sweat. Okay. Now I got more money. I started increasing that sweat. I started increasing that. So I started. Buying. my own projects from the people I mean if I was 10 % share then I got 30, 30, 40 40, 50, 50, 60 paypal give it paypal give it paypal give it because I got all the money I got HR I got people I got marketing I got fast track you got news 45 crore I got breakdown so one news I read in Arabia newspaper and then Middle East in a casino you have to admit news on that basis on that casino the land which was plots the plots that you have to buy investors which you have to buy money which you have so what was the price that was the price that was around 375 dirhams per square foot okay so that you have started to buy now the price is 2000 so on top of the riders than to buy the amount of price and then we purchased my deans

22:37all the husbands quits on the home we have to buy this we have the first two projects in which we had PMC in which we had a sweat and shared we have left because of some reason with the investors then after that we have many projects which we have launched basically what is plot B &W initially but at the time of launch plot B &W in which we have become a part now it is not important not that B &W plot is 100 % or 50 % or 60 % the important point is B &W is delivering that project this real estate industry works like this plot is someone's who is making, who is the developer, who matters joint venture can also say it okay, so you started this, you didn't have plot that time, we took it how did that take it?

23:41look, initially you got sweat

23:54Casual Fuиной

24:13we do not make a acquisition of cost but we make a valuation. So it's a win-win situation for all of us. This is your advantage and my advantage. But if an investor has done his advantage and you've never made a contract with him, that I will buy something later, then you can trust. So they trust you enough that you've made so much money, then you can take it and make it more. That's how it is. Look, if you are right, you are working with trust, you are working with all things that are right so you will not trust me okay so we do this we do this we do this we do what we do today come and buy a plot we invest in your plot and let us build the valuation valuation I want to build now there is a factory in which you make a shirt and who I am?

25:05Gucci okay you have 100 rupees I made it 1 ,000 ,000 so if I give you 100-10 ,000 then you will or not obviously why not my interest is in Gucci my interest is in shirt but then this 100 do you think it's wrong ethically sir look this development business you have made this valuation this valuation you give a good project it matters and how does it become? if you buy a land you think suppose that 100 rupees and you think you think 700 rupees and you think 1500 rupees then how much profit is? 800 rupees double and you think 1500 rupees is the market but but if you have 600 to get 400, you can get that but if you actually have 600 to get 600 then people who will buy?

26:14you will buy or you will buy another? you will buy another basically, the gap is so big if you work well, then you will be good if you work well the project is not barren land, barren land not a value, barren land you can make a project that you can execute well then it will be a value It's a It's a It's a It's a It's a It's a It's a It's a It's a It's a It's a It's a It's a It's a Then What do you Do

26:46What do you Developers With We work on Open Book Structure With Developers It won't Do But If you Are An Investor You want To Develop With The Investor You want To Invest With The Developer You Have Only Two Options Either You Will be buying their projects or you will be getting a certain amount of specific interest or return whatever you say you have a ROI fix developer will not give you a book but what we do is take you to open book structure we say that you come and you will be a developer you will earn and I will earn how much you earn is my percentage fix my PMC will give me 20 % okay and usually developers uLTA KERTE HAYA DEVELOPERS ULTA KERTE HAYA KIE AAPKA 20 % FIX HAYA MAH KITNAY MAHI BECHU AAPKA KOI HEADAK NAYASA EXACTLY SO YOU TURNED AROUND THIS THING SO AB MEN AAPKO DUBARAH IS PPER BATAHA TOO MERE NANA JI NAYE MUJHE EK PRINCIPAL SIKHAYA Kİ BETA APNI CHAVANNI DECHO DUSAREKA RUPEYAH MAD DECHO MIRKO APNI CHAVANNI SE MATLAB HAYA OR TO YIE MARKET MAHUR who is not doing it.

27:54I think that today is not doing it. And this is the reason that you became this successful in the last three years. I give you an option. Now you work with fund house, banks, structured family offices. Our investors are these people. All structured money. If you give genuinely returns to them, why do you go? My bad is that asset backed model the land is in your name not in my name you are secured now valuation if I have thought that there will be casino and that's why I have something I have bought something I have invested and if I didn't because before Middle East with Seasons Palace you should have to do SWAT analysis you should have strength and weakness all of your you have to see the gap how big is it before you see Russell Khema right Russell Khema yes so that's a dead area there is something no sir this is a dead area I'm sorry to say this but it's not it's a most happening area people are dying to get the plots and the apartments there but what is it now tourism it was before it was such a lot it's very low there is Dubai Abu Dhabi here 20 % 25 % here or New York if real estate growth is secured people know that infrastructure is good tourism is very strong everything there is nothing there is risk that there will be high returns if you have a casino or tourism has increased but high risk there is not a risk there is no risk why not I can tell you basically you can say it unexplored area but underdeveloped it is not underdeveloped it is unexplored people have seen see not.

29:48So, football has never been bigger. So, there are so many supply as much demand. Now, when the demand will be more, the supply will be more. The population is 6 ,000 ,000. If the population is 9 ,000 ,000 ,000, 3 ,000 ,000 ,000, then the growth will be doubled. But today, I have a risk, right? As much anticipated in the area, because there is a news, that there will be a casino. It is confirmed now. It was before Caesar's Palace. No, Caesar's Palace was not. never even. I think this is the first gaming license in the Middle East. But what was the case of Seasers Palace? What was that thing? No case.

30:28Because they were expecting to open a casino and then they didn't get their license. Many people talk a lot. But you should believe on the authenticated resources only. Okay, so this one's coming. I think it's like Dubai. Everyone knows. I mean, whoever has seen Dubai 10 days, seen, he feels like I know all. He has 10 places, so he feels like 10 places. No, it's not. It's all governed in a very, very, very mature way. So now, rumors, rumors are a lot of because people travel here and go to their own idea and go to their own and they used to speak a lot about it. They feel like this is is not this.

31:17This is the first gaming license. We should not call it casino. We should call it gaming license. Got it. And when is this gaming license coming? 2027. 2027. This is one element. It's a pivotal element. It's a big one. Of course. This property can double or triple. It was 37 times in the Makao. Now think about how much gap is. so there's a hope so that's what people are investing in exactly na so you have to make money why don't you I to abhi bhi logo ko yehi bolu ga ki agar abhi bhi souch raha ho to late ho jayega abhi bhi you feel ki rasal kama me zaada growth hai than dubai nahi dhekhayi comparison nahi karna chahi kabhi bhi comparison nahi hai koi bhi woh ek different market hai ye different market but as an investor agar aaj mein family office mein pas kuch paisen lagane ke liye where should I invest BMW but BMW we will talk about 12 projects we will talk about it you are secure but if you had to choose one Abu Dhabi, Dubai and Rasul Kama as of now in new project I will say Abu Dhab there are many elements which will take place in future I think so and Abu Dhabi is investing heavily in the real estate market so you will get a real boom there in how many years 2-3 years so that's you feel that's number 1 number 2 number 3 Dubai if you need a category it's okay it can change my category it's a very dynamic market so dynamic why are you saying this dynamic when you will start thinking about buying something and when you will actually invest your money the whole dynamics will change in our India we have to think we have to ask ourselves we have to talk about it so it is so fast here it is very fast you are saying one news can just turn around categories 1 to 3 we have trust in news but the people who are actually buying there is based on some logical grounds There is no logic that makes some news.

33:43Yes, it is not. When government is declaring something, you have to believe. So you think government can declare at any point anything and then it will boom. Yes, it exactly happened in Dubai South as well. So when their government is investing heavily in the South side of Dubai. Yeah, South side. The area is in the boom right now. So how do you become a member with your family?

34:07How did it become a joint venture? we went for a proposal to buy us a particular piece of land and we asked them if they can help us in getting that plot and then we discussed a lot and we seek for their blessings we said that okay we want to work under your umbrella and they did their due diligence and after a few months we got their reply and they accepted our request so this is how it went but it's not just only my case there are many people who are doing under the guidance of his okay and why do you need to be under their umbrella what makes it easy for you what is the benefit it's not for any kind of benefit it's just about that you have to have someone who can guide you through the right process.

35:07It's about the long-term relationship with a particular country. You understand my part? It's a model which is available in this country. But since India is a democratic country and many countries, so they don't have certain, this kind of a model. But here, if you work as per the guidance of the rulers and if you work with the blessings if you want to grow they will support you okay what do you mean by guidance yeah guidance means you want to do something you want to buy a particular piece of land they will guide you either you should go there or no if you want to launch a certain project let's say they will guide you do it in this way they will they will support you in a way you understand at my point.

36:02Okay. So, I mean, they're saying that in this place you're thinking about the project, do you make or don't make that in the next five years? No sir, nothing happens. They don't say that. The thing is, they used to guide it as per their prudence level. Okay. And whatever they say, you have to follow it. But does it get easier? Easier in what sense? To get your work done here? Because you're in joint venture with the royal family? No, it's not like that. If you think like that, we are doing joint venture to make things easier. It's a total misconception. Okay. It's not like that. It's just like that.

36:39You have to respect a certain system. You have to go by that only. See, at the end of the day, nobody can change the law. Law is for everyone. Law is law. There is not a 0.001 % deviation from the law. First of all, you have to understand this. If his highness is with you, he is in a joint venture partnership with you. It means that you are seeking the guidance and the blessings of the his highness always. You have to respect that in certain way. You know, it's not just like that. They will give you a way to do business. No, people sees like that, but it's not true. Okay. How people sees it, it's not in my control.

37:22I can give you the reality and the truth only. Okay. I want to ask very few basic questions. which are many Indians specifically related to Dubai, UAE and the whole market. And there's no better person to answer these things than you. Not only because you've turned your life around and you've become one of the most inspirational developers here. In three years, going from just a broker or just a CA to where you are is incredible. Thank you. That is one. and the second is also because you're a CA from India so in turn you can answer like few questions very very nicely okay first is ki Dubai mein aisa kya hai jis ki waisay logo ko invest karna chihyeh like what is here kyun all of a sudden pora india marcoi baat kar hai ki ar hum Dubai what are the top three reasons better lifestyle invest in India or here haa karo I can't say that don't invest in India I'm an Indian first first of all so for me my country is the highest but if you will still ask me what are you doing the invest obvious reasons so the taxation is only 9 % means corporate tax is only 9 % in India it's way more for different reasons it's the safest city in the world there's no crime your family is happy here and you are getting a tremendous amount of appreciation for your investments what can you expect it can be doubled in one year and the rental values are like 8 to 10 % if you will compare it with India it's like only 1.5 % in India here you will get 8 to 10 % of your rental values the bank rate of interest is very less the economy is back to the dollar means currency so you will get the dollar appreciation as well so if I invest from India today here in some property what can I expect in the next 2-3 years in my opinion it totally depends on where you are investing but if you will do the smart investment it can be doubled easily in next 3 years and still you will get rental returns of 8-10 % annually annualized.

39:53So 8 to 10 % annual is different? If you will invest in ready properties. Capital appreciation double, triple O's. If you will invest in ready properties. Okay. And what's better? To invest in ready properties? I think off-plan. I think off-plan properties. Means under construction. Why do you get more appreciation? I think yes. And it's easy to invest also. Means you can invest in a bigger asset by investing partially in fractions. like you will be paying in installments and it's easy for you as well and in a way you can invest in a bigger like higher number of higher amount of investment and that you can double in 3 years that's what it's quite easy and it's happening actually so that is one of the main reasons but another is if I live in India then I can invest from India and live in India so you have two mechanism by which you can invest there is a route called LSR route liberalization scheme wherein you can invest 250 ,000 US dollar every year government will give you the permission and you can invest through the ODI routes overseas direct investment by which you can take a RBI approval and you can transfer it through the bank.

41:09But it's not difficult sir if you have difficulty or easy to see then you don't have to invest it's a process you have to go by the process it's a very small amount as you remember people invest so if you invest in 250k you can do it so RBI easily approval if your company valuation is yes RBI allows you it's a mechanism you can invest four times of your net worth the only condition is that the company which is through which you are investing here should be the 100 % subsidiary of your Indian company so if it taxation benefit no when you get it not so then how how is the when you invest here so here you here and go and that's okay if you have to pay taxes but the taxes which you are paying here you will get the rebate then same thing then India will go in India If you have to go to India, then yes.

42:21I have to live there. So every year I will spend money, every 5 years I will spend. It totally depends on how you see the market. How do you see the market? I see the best market in the world. Dubai is the best market in the world. So you think you'll be there and you'll be there and you'll be there. Simple. Okay. Then, which area do you feel will grow the fastest in UAE in next 2-3 years? Russell Kheema. that you have vested interest no it's true I have my vested interest because I have invested there that means I believe there you believe more than Dubai will grow I believe in a particular for obvious reason and that reason is paying me off simple tell me one thing Dubai when you come to four and you see every building almost fancy every building there are all amenities in every building how do you decide which building good ones.

43:17If you say developer, then one-one developer 50-50 projects are all the same. How do you decide? When you go to Dubai mall to buy shoes, how do you decide which shoes you will buy? Based on brand. And every brand has many collections. So how do you decide? Whichever I like. Exactly. So you gave me the answer. Just whichever you like. You also do this way. Of course. which suits in my requirement I need flat shoes I need apartments I need three bedrooms I need floor in I need size I need this height I need this location I need this view there are certain fundamentals which fit in your requirement you buy simple but almost all the same like one person I would tell about me as a visitor.