Union Square House (USH) stands at the forefront of Dubai’s real estate sector. With two decades of experience and a reputation built on delivering premium property solutions and customer-focused services, USH has carved out a space as a leader in high-end developments.
Guided by the vision of its Founder and Managing Director, Gaurav Aidasani, the company is not only expanding its portfolio but also evolving its approach to match the demands of a fast-changing industry. In this interview, Aidasani reflects on the company’s strategic growth, the broader shifts in real estate, and what lies ahead for USH in the coming years.
Union Square House was in the news earlier this year after achieving a record property sales. How has 2024 been for you so far and what have your takeaways been?
Union Square House continues to build on its impressive performance from 2023, where we recorded property sales of nearly Dh4.5 billion. In 2024, we have set ambitious growth targets, aiming for a 25 per cent increase in sales and expanding our team to meet the rising demand, particularly from non-resident investors.
In 2024, we have set ambitious growth targets, aiming for a 25% increase in sales and expanding our team to meet the rising demand.
A major takeaway from this year is the need to adapt quickly to Dubai’s evolving market. We’ve opened a new branch in the Nshama community to cater to the growing demand for townhouses and villas, and we’ve expanded our headquarters to 10,000 square feet. We also have plans to expand to Abu Dhabi and open additional branches in other high-demand communities, ensuring we stay ahead of market needs and continue delivering exceptional value to our customers.
With the bird’s eye perspective you have on the market as a premium stakeholder, what are the main trends driving real estate in Dubai, and how well is Union Square House aligned to them?
We’ve observed several key trends shaping the sector. While the Russian market has shown signs of slowing down compared to last year, we are seeing a resurgence of interest from Chinese investors. However, it’s the Indian market that continues to hold the driving seat, reinforcing the overall strength and stability of the market.
In terms of property preferences, the demand has shifted this year. Properties in the $1 million to $3 million range have gained significant popularity, whereas last year, the focus was primarily on properties priced above $3 million. Additionally, transactions for waterfront properties have slowed down, with townhouses and villas now dominating the market, reflecting a clear preference for spacious, family-oriented homes. USH is fully aligned with these trends, strategically positioning itself to cater to the evolving demands of investors and homeowners.
How big a role is technology playing in reinventing the regional real estate sector?
Technology is playing a transformative role in reinventing the real estate sector. One of the most significant advantages is the ability to reach a broader international client base, which has opened new opportunities for growth. Through digital platforms and tools, we can now connect with and serve clients from around the world, making the real estate process more efficient and accessible. This expanded reach has been a game-changer, allowing us to cater to clients regardless of their location, driving both demand and innovation in the market.
Congratulations on winning the No. 1 Lifetime Partner Award from MAF earlier this year. What are some of the recent accolades won by the brand, and how important is brand recognition for your team?
Winning the No. 1 Lifetime Partner Award from Majid Al Futtaim earlier this year was a great honor and a testament to the hard work and dedication of our team. Awards like these not only validate our efforts but also reinforce our responsibility to consistently deliver exceptional service to our clients.
Over the past decade, we’ve been fortunate to receive numerous accolades from top developers. In 2023 alone, we were honoured by MAF, Emaar, Meraas, Nakheel, Dubai Holding, Nshama, RAK Properties, and Meydan.
What is your perspective on the future of real estate in the UAE, and the role Union Square House will play?
So far, demand has significantly outpaced supply, and this momentum is set to continue. The future of real estate in the UAE looks highly promising, driven by a growing economy, increasing international investment, and a continued focus on luxury and sustainable developments. The market is expected to see even more interest in high-end properties and smart technology integration, aligning with global trends in real estate. USH is well-positioned to play a pivotal role in shaping this future. We plan to further expand our presence and offerings, catering to the increasing demand for premium real estate solutions.
