At IPN we believe that by building strong collaborations and placing our customer’s needs above all, we can achieve the most optimal solution to our client’s real estate challenges.
By handpicking the Solution Providers who share our ethos, we feel that we not only offer the right options to the customer but continuously exceed their service expectations each and every time.
IPN works with a number of trusted partners across our network. This month we talk to Nadeem Kabariti, Managing Director at Qubros.
Tell us more about your background?
I have worked at a bank for 12 years, 8 years in the headquarters in Amman, Jordan.
In 2014, I decided to move to Cyprus and help in expanding the operations of the branch in Limassol. We were able to introduce housing loans for Jordanians, who wanted to invest in Cyprus, which was a huge success, as many Jordanians who wanted to invest in Cyprus, gained the option to get financing from a local Jordanian bank. In addition, we were able to assist in their real estate investments.
At the beginning of 2018, after almost 4 years at the branch, I decided to switch careers and move into the real estate sector.
What inspired you to change your profession?
Several factors have inspired me to change my career.
I observed that there was a gap in the field for the Middle Eastern clients, specifically Jordanians, wanting to invest in Cyprus but preferring to have a local on the ground to take care of their needs.
The second factor was the issues clients were facing to navigate the market. As you are aware a lot of resales and new projects are scattered all over Cyprus with different price points. By having and building strong relationships in the market, I was able to help foreign clients navigate this maze.
Coming from a banking background, do you find that your previous experience helps you in your current line of work?
Coming from a banking background has especially helped in my new career.
In my last four years at the bank, I was helping clients invest in Cyprus, so the switch was not very difficult. More importantly, by having spent many years working at a bank, it helped me to understand the complex banking systems, which has been crucial for assisting clients with their transactions, helping them understand the bank’s requirements, and explaining the new EU regulations. Putting their mind, within a different system, at ease.
What are the main challenges you come across working in real estate? And how do you overcome them?
In regard to the challenges that I faced there were quite a few. First of all, coming from a banking background I had a set routine, working every day between 8 am and 4 pm.
In real estate business routine gets thrown out of the window! Every day is a different day, which is challenging to get used to at first, but very liberating later on. In my previous job, I would leave the office at 4pm and not worry about work till the next morning.
As Cyprus is a small island and there are a lot of new projects and new agents coming up, the market has become very competitive.
However, that being said I’m finding my niche in the market and I’m continuously diversifying my portfolio, in order to give the client the best the island has to offer. To overcome the challenges faced in this competitive market I always try to not be a competitor but a partner to the competition, by sharing resources we serve the client at the end of the day.
What does your typical day look like?
As mentioned before there is no typical day in this field, but as I am used to the routine from my previous job, I try to have the first few hours in the morning to go through emails, news regarding the sector, and follow up on any pending issues, then attend scheduled appointments.
On the days where there are no set appointments, I use the afternoon to either expand my networks here or look into the Middle Eastern market through various connections to bring in new clients and of course getting my small company’s name out in the region.
Cyprus is popular among Jordanians, what would you say are the main reasons they find Cyprus attractive?
Cyprus is a very popular destination for Jordanians for various reasons. First and foremost, the proximity of Cyprus to Jordan. It is less than an hour’s flight away (50 minutes).
The second big factor is that Jordan only has around 25km of shoreline which is in Aqaba, about a 4-hour drive from the capital.
The other big factor for Jordanians coming to Cyprus is also the people of the island.
There are a lot of similarities between the two cultures, mainly the importance of family and community, therefore by coming here, Jordanians feel at home. This on top of the legal framework of Cyprus, based on English law, my clients feel that their investments are safe and secure like the island itself.
Lastly, the cost of living in Cyprus is relatively cheaper than in Jordan, which also plays a big role especially for people thinking to relocate whether for business or retirement.
How do you see the future of real estate in Cyprus?
To finalize and to answer your question regarding my views on the real estate market, I am optimistic about the bright future of the island.
Tourism is increasing year on year. The casino project, one of the biggest in Europe and all of which that comes with it, is definitely a highly anticipated project that is and will continue to attract new buyers.
The laws, regulations and the tax system here are very competitive and amongst the best for foreigners who want to invest, relocate, and/or retire in a safe and secure environment, an environment every human being, regardless of nationality, is always searching for.
And how do you see the future of the relationship between Qubros and IPN Cyprus?
IPN is a well-established and progressive real estate company in Cyprus, with decades of experience and a highly reputable and trustworthy name attributes Qubros’s client base highly values.
With the current changes in clientele seeking to invest in Cyprus, and IPN being a forward-looking company, the future goals of the two companies complement each other very nicely.
By working together, we are able to provide a holistic approach, creating long-term relationships based on trust and love for the island that not only benefits the market but also benefits the Cypriot community as a whole.
For more information on Qubros, IPN Cyprus, or how you can become a Solution Provider, contact the team on +357 25 31 31 81 or visit www.ipncyprus.com