The UAE’s real estate marketing is booming at an unprecedented record and has a high rating in all of the real estate markets in the Gulf Cooperation Council (GCC) region. There are many key drivers for the growth in real estate sector in the MENA region – especially UAE. High population growth rates, huge inflows of expats, young population, high liquidity levels and favorable government policies are some of these reasons.
Dubai has been the biggest emirate in terms of real estate activity and has experienced a high escalation in prices and accommodation rents. The demand is huge but supply is not enough to cater to this demand in the residential segment as there has been an economic boom and growth in employment from all over the world. Foreign companies are also setting up base in UAE – bringing in more workforces. Dubai’s population is growing at 7% per year while its GDP has expanded by more than 16% over the last year. According to estimates, there is almost $42.5 billion worth of projects under construction.
All in all, the real estate market is booming and because of this, other businesses are being affected. Real estate localization and translation are two of the services that have seen complementary growth as a result.
Companies that are in the real estate market want to make the most of their business by extending it to foreigners who may be interested in buying or selling properties and investing in such projects in UAE or MENA region. But how do these companies reach out with their offers? They turn to translation companies for either real estate translation or localization of their real estate content.
The internet has increased the ability to promote and advertise services and information related to real estate business all over the world. Buyers and sellers from MENA or any other country can purchase property in any location. Therefore, it is extremely important to ensure that the interaction between sellers and buyers is readily available and seamless.
A potential buyer’s interest in real estate is increased with a well-written description and real estate marketing content that builds a sense of trust and ease of communication along with clarity. Agents and real estate companies face two challenges when trying to communicate with potential clients. Firstly, how to get their real estate information understood and distributed to a large pool of potential clients. Secondly, how to get the contracts translated into formats that comply with local legislation but still retail all important transaction details.
These challenges can be addressed with an accurate translation of real estate information. Translation companies with expertise and experience can translate all real estate documents and content in multiple languages without losing pertinent information in the process. Accuracy in translation is prioritized because no real estate company would want to risk misinformation being transferred to the client that could cause serious legal consequences or damage to reputation.
Real estate holdings and rental properties often require a lot of paperwork that can be translated accurately such as:
·Real estate contracts
· Lease and rental agreements
· Litigation documents
· Tenant real property disclosure agreements
· Realtor contracts
· Appraisal documents
· Brokerage relationship disclosures
· Building codes
· Mortgage agreements
If a company wants to go one step further in taking its real estate business global then real estate localization is another option.
Unlike translation which basically calls for a word to word literal translation in multiple languages, localization is a different ball game. In localization, your website and mobile application will be fully adapted to mimic local experience for a foreigner user. If you have a real estate website in the UAE, a translation company can localize it for potential clients in Asia. In this process, the website’s outlook, date/time, currency, graphics, animations, content and all other important elements like formats and layouts will be localized to the Asian market’s expectations. This will help your potential clients understand your business much better and will increase the chances to convert into a sale.
Localization is a great option if you can afford the time, cost and effort. It gives you a competitive edge in the market by giving your business better online visibility especially when the website and content are in your target market’s own language and localized to its culture. It also leads to a positive public image of your business. Your company tends to stand out in the competition and it gives you a better chance at landing more foreign investors that could give you a high return on your investment.
Real estate enterprises can get a lot of advantages with accurate localization if they are coupled with a well thought out marketing strategy. If you’re localizing your website, then it makes sense to have a sound SEO strategy as well. If your website search engine is optimized, it will ensure that whoever types in the relevant keywords in your target country will be directed to your website. This way you will be targeting the right pool of investors and potential clients. SEO helps you to grow your real estate business and get a high ROI. Regular content updates and blogging are other two marketing tactics that you can consider for growing your online visibility.
An experienced translation company like Torjoman can help take your real estate business to the next level. Torjoman is a trusted translation and localization partner that has served thousands of clients on real estate projects of all scopes and sizes. With an extremely talented team of translators who have linguistic authority on more than 150 languages and experience in real estate business. We pride ourselves in being the best when it comes to real estate localization and translation services. If you have a project you can’t wait to get started, contact us and we will discuss with you all the details and give you a customized quote for your project.