Tej Kohli

Ozone Real Estate Group is an Abu Dhabi based, multifaceted real estate company with more than 5 years of expertise in investment and development of residential projects in the region. With an estimated investment outlay of AED 12 Billion in the Gulf region over the next five years, Tej Kohli lead Ozone group has also launched aggressive international growth ventures that will take the eminent real-estate development brand to other parts of the world.

Ozone derives its strength in its commitment to create architectural structures by employing state-of- the-art technology, innovation and effective business strategies. Rupali Dhiman in a tete-a-tete with the man who fronts the Ozone Real Estate Group.

1. Tell us something about the Ozone Group? What are its objectives and vision?

I launched the Ozone Group in 2007 with the objective of helping investors benefit from the real estate boom in Dubai and Abu Dhabi. Today, we offer a whole spectrum of services to fulfill the needs of our diverse client portfolio, including real estate development, investments, sales and marketing management.

Ozone is my dream venture. Our goal is to deliver highest quality and best service standards, and at the same time deliver residential living experiences that enhance both the community as well as the lives of people. We are also planning to undertake some commercial property projects in Dubai.

2. What makes Ozone stand out amidst the rest? What are the guiding values of your company?

Ozone upholds strong corporate values and beliefs that form the backbone of it's growth. Each employee in our company is committed to deliver premium service standards and each one works ardently towards ensuring client satisfaction. Ozone offers a congenial environment for professional growth, where competence is backed by many years of experience, and the team is always agog to exhaust all channels of improvement, be it personal or professional. As a company that takes its corporate social responsibilities seriously, we have a strict environmental policy that ensures minimal adverse impact on the environment.

3. Tell us more about Ozone's development portfolio in the UAE?

Currently, Ozone has four projects under its unmbrella. Apart from acquiring several floors in the most prestigious projects developed by premier names like Tamouh, Tameer, and Hydra., we are in the midst of developing the Cassi-Bay Tower, one of the few Freehold Properties on Al Reen Island.

4. What would be Ozone's next project?

We intend to launch two major commercial projects by 2012. I cannot disclose more details at this time, but I can say it is going to be much better than what you have seen in the commercial sector so far.

5. How are these projects financed?

These projects are solely funded by Ozone Real Estate Group.

6. 2009 and 2010 have been quite rough for the property market in UAE? What's your opinion about it?

2010 was much better than 2009. And the way realty market is bouncing back, I think 2011 is going to be even better. Now, if we take Dubai as the bellwether, 2008 was a great year in terms of property sale. There was a considerable growth in sales from both the tourists and resident market. Although the market did hit a bottom from 2008 to 2009, but now things are much stable and is definitely showing signs of recovery.

A lot of improvement has been seen in the last quarter of 2010, which we also experienced in our projects. I'm quite positive that this upswing will continue throughout 2011.

7. What's you take on the property prices trends in UAE over the next 2 to 3 years? Will they rise, remain stable or fall?

I envisage good times ahead as far as the property trends are concerned. UAE will remain an investment haven for the next few years at least. The present market boom is likely to continue for another 2 years, and although the prices may spike, they will stabilize eventually. I don't see any turbulence in the imminent future.

8. Foreign investment in Dubai freehold properties has experienced an increase over the last few years. To what do you attribute that growth?

The very idea of owning a freehold property is one of the major attractions for investors. Apart from this, the relaxation in FDI norms and the boom in Dubai real estate market is pulling buyers in from all over world.

9. Has the implementation of the recent property laws had any considerable effect on the properties sale in Dubai?

The recently introduced laws have only brought more relief to the buyers and thus the willingness to invest in Dubai real estate is even stronger today. Obviously, a person will invest more confidently when he knows his rights are protected.

10. Before signing off, one last question - what are your company’s future plans?

Although our initial focus is Abu Dhabi, Ozone is also planning to roll out its project development coverage in Qatar, Dubai, Egypt and India over the next five years.