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Veteran developer Sameh Muhtadi was appointed the chief executive of Bloom Holding in April...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-424","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6Q","jetpack-related-posts":[{"id":59258,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bloom-expects-boost-to-luxury\/","url_meta":{"origin":424,"position":0},"title":"Bloom expects boost to luxury","date":"June 29, 2017","format":false,"excerpt":"\r The Abu Dhabi developer Bloom Holding does not expect the capital's luxury housing sector to start picking up until the end of next year.Sameh Muhtadi, the chief executive of Bloom, the private developer currently responsible for a clutch of ambitious projects in Abu Dhabi and Dubai, thinks that the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59210,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bloom-expects-boost-to-luxurybloom-expects-boost-to-luxury\/","url_meta":{"origin":424,"position":1},"title":"Bloom expects boost to luxuryBloom expects boost to luxury","date":"June 29, 2017","format":false,"excerpt":"\r The Abu Dhabi developer Bloom Holding does not expect the capital's luxury housing sector to start picking up until the end of next year.Sameh Muhtadi, the chief executive of Bloom, the private developer currently responsible for a clutch of ambitious projects in Abu Dhabi and Dubai, thinks that the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30731,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bloom-eager-to-start-work-at-madinat-zayed-business-district\/","url_meta":{"origin":424,"position":2},"title":"Bloom eager to start work at Madinat Zayed business district","date":"October 19, 2016","format":false,"excerpt":"\r Bloom Holding hopes to be the first developer to start work in Abu Dhabi's long-awaited new central business district after the Executive Council awarded a Dh1 billion infrastructure package for the project.The Abu Dhabi private developer said on Wednesday that it plans to build 2,000 flats renting out for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42301,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-developer-bloom-holding-considers-ipo-to-finance-projects\/","url_meta":{"origin":424,"position":3},"title":"Abu Dhabi developer Bloom Holding considers IPO to finance projects","date":"January 30, 2017","format":false,"excerpt":"\r Bloom Holding, the Abu Dhabi-based developer is considering an IPO as one of a number of financing options as the company announces an ambitious list of projects.The company, which is part of Abu Dhabi's National Holding, said that it was getting \"IPO ready\" over the next two years as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30739,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bloom-eager-to-start-work-in-abu-dhabis-madinat-zayed-business-district\/","url_meta":{"origin":424,"position":4},"title":"Bloom eager to start work in Abu Dhabi's Madinat Zayed business district","date":"October 19, 2016","format":false,"excerpt":"\r Bloom Holding hopes to be the first developer to start work in Abu Dhabi's long-awaited new central business district after the Executive Council awarded a Dh1 billion infrastructure package for the project.The Abu Dhabi private developer said on Wednesday that it plans to build 2,000 flats renting out for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25483,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bloom-holding-looks-to-finalise-deal-on-affordable-housing-project-near-abu-dhabi-airport\/","url_meta":{"origin":424,"position":5},"title":"Bloom Holding looks to finalise deal on affordable housing project near Abu Dhabi airport","date":"September 8, 2016","format":false,"excerpt":"\r Bloom Holding is hoping to finalise a deal that will allow it to develop a 2.2 million square feet plot of land near Abu Dhabi airport by the end of the year. The chief executive Sameh Muhtadi said that Bloom expects to be able to put about 13,500 homes\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/424"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=424"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/424\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nVeteran developer Sameh Muhtadi was appointed the chief executive of Bloom Holding in April after a 30-year career at companies including Arabtec, Emaar Properties Misr and Orascom Contrack. Mr Muhtadi has been tasked with overseeing Bloom\u2019s ambitious new projects including delivering Bloom Gardens, a partially completed villa project near Khalifa Park in Abu Dhabi; Soho Square, a collection of 302 homes next to New York University on Saadiyat Island; and a new office and hotel complex on Airport Road.
\nHow would you describe your year?The year was incredible for Bloom. We quadrupled our offering and achieved stellar results. Our projects are one of a kind and, as such, were less affected by general market trends. We believe that we have the right product, in the right location at the right price. This is our winning formula. Our projects are ideally located on Abu Dhabi island, which is a highly desirable location for Emiratis, and on Saadiyaat, a place destined to become Abu Dhabi\u2019s premier residential district. None of our projects is on the outskirts of Abu Dhabi or more than five minutes from the city centre.
\nWhat effect is the fall of oil prices having on the property market?The effect of oil prices may have an impact on the property and leasing market for a temporary period. Demand is directly linked to the economy and government expenditures. Should there be a reduction in investments it will likely impact the number of newcomers to Abu Dhabi, which in turn will affect demand. Similarly, uncertainty in the economic outlook will cause some investors to hold off on making investment decisions. However, the supply and demand in Abu Dhabi is balanced.
\nWhat are your predictions for the Abu Dhabi housing market over the coming year?This is purely a supply and demand dynamic. The past few years, a relatively little supply has been added to Abu Dhabi, which in turn will moderate any downwards pressure on rental rates. We continue to witness strong rental demand for our Bloom Gardens, Bloom Central and Abu Dhabi Marina projects.Why is there not more affordable housing in the UAE?
\nBloom Properties is in advanced designs with the intent to offer an affordable housing option to the market. We believe that this market segment cannot be ignored and must be satisfied by real estate developers. We will be announcing significant initiatives on affordable housing at the upcoming Cityscape Abu Dhabi event.What are your predictions for the UAE property market in 2016?Our prediction is that there will most likely be a softening in the real estate sector in 2016, but we are confident that every downturn will bring new opportunities that should be capitalised upon, including acquisitions and diversifications into defensive economic sectors. Bloom has ambitious plans for its education and healthcare businesses that will help us balance any negative real estate market impacts.
\nlbarnard@thenational.aeFollow The National\u2019s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Bloom Holding boss keeps the faith in Abu Dhabi\u2019s housing appeal<\/a><\/p>\n