From textile to real estate: Saleem Karsaz’s path to success in Dubai

DUBAI: Dubai’s allure has long been a magnet for entrepreneurs and investors worldwide, and for Pakistani-born Saleem Karsaz, the city’s charm was impossible to resist.

Karsaz, now a dominant force in Dubai’s real estate market, initially came to the city in 2003 to study but soon found himself enamored with the luxury, safety, and security it offered.

After a brief stint in investment banking, he discovered his true calling in real estate, and by 2007, he had established his company, which is now known as Aeon & Trisl.

Karsaz’s journey, however, was not without its challenges.

Aeon & Trisl among top 3 agents of Emaar

The 2008 financial crisis hit the industry hard, but he persevered, and his company emerged. The subsequent years saw a boom in the market, fueled by the announcement of the Expo in 2013, which catapulted Dubai onto the global stage.

The city’s handling of the COVID-19 pandemic further solidified its reputation as a business-friendly destination, and Karsaz’s company thrived.

Today, as the Group CEO of Aeon & Trisl, Karsaz is a highly acclaimed realtor, recognised by the Dubai Land Department as the highest-ranked broker multiple times. His success can be attributed to his passion, experience, and guidance.

2023: Pakistanis remain among top 10 buyers of Dubai property, Indians top list

In an interview with Asma Mustafa Khan during Aaj News’ In the Arena, aired on Friday, Karsaz broke it down for those following similar aspirations.

“Work within your means,” he said during the conversation.

“Expand at a steady pace, not too quick. When you work with passion and under the guidance, the sky is the limit.”

Karsaz’s achievements are also a testament to Dubai’s business-friendly environment, which has attracted entrepreneurs and investors from around the world.

Dubai’s ‘super stable’ status ensures its real estate market keeps attracting Pakistanis

The city’s favorable tax regime, ease of doing business, and infrastructure make it an ideal destination for those looking to grow their businesses.

The UAE is ranked highly on enforcing contracts – at No 9 on the World Bank’s Ease of Doing Business Index out of 190. The UAE does not have a single rank in three digits across all metrics on the World Bank’s Ease of Doing Business Index.

“The environment is multinational, and you can easily connect with people from your own part of the world as well,” Karsaz said.

Dubai’s real estate market has experienced phenomenal growth, unmatched by any other market globally. The city’s ability to adapt to changing circumstances, such as the pandemic, has further solidified its position as a hub for business and investment.

Karsaz’s company, Aeon & Trisl, has been at the forefront of this growth, with a workforce of over 320 people globally.

Dubai has most millionaires in Middle East, New York tops global list

When asked about the current state of the market, Karsaz notes, “2023 was the best year in the history of Dubai real estate, and our company came out as the best seller.”

He dispels the notion that the market is due for a dip, instead advising investors to focus on choosing the right developer and working with reputable companies.

“Buying in communities with value addition, such as malls, parks, hospitals, and schools, will always prevail,” he says.

It was also recently reported that investors from traditional markets like India, Pakistan and the Middle East will join those from Australia, the UK, Europe, Turkey and others as Dubai’s red-hot property market continues to attract international buyers.

Dubai has already defied predictions of a bust as demand continued to rise and deals worth $74.6 billion were executed in 2023, according to property consultant Knight Frank LLP.

In the first three months of 2024, nearly $24 billion worth of property has already changed hands amid fear that the city’s property boom was about to make way for a bust cycle.

Karsaz’s success story also serves as an example of Dubai’s ability to attract and nurture talent from around the world. His journey demonstrates that with hard work, dedication, and the right environment, anyone can achieve exponential growth and success in Dubai.

As Karsaz aptly puts it, “Dubai is an addictive city … safety, security, and luxury – it’s a different world altogether.”

In addition to his business acumen, Karsaz is also recognised for his contributions to the industry.

He has received accolades from leading developers in the UAE and abroad, including Emaar, Nakheel, DAMAC, Sobha Realty, Majid Al Futtaim, and others.

As the city continues to grow and evolve, it will be exciting to see how entrepreneurs like Karsaz shape its future.

With his guidance and expertise, investors can navigate the complexities of the real estate market and achieve their goals. Dubai’s allure is undeniable, and Karsaz’s story serves as a shining example of what can be achieved in this addictive city.

Copyright Business Recorder, 2024