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GRE Assets adopts 'tech as utility’ policy to cope with Covid-19 crisis

RIYADH, April 9, 2020

GRE Assets, a residential property investment company with offices in the UK, Spain and the Middle East, said its key partnerships with local authorities and adoption of its ‘tech as utility’ policy will be key to delivering success. 
 
It has been a complex matter with GRE Assets, which has shown a deft hand in responding at speed to the differing approaches taken by governments in each of the markets the business operates.
 
At the same time decisions on strategy have been set in train for when things return to normal. Offering is unique perspective on the business impact of the global coronavirus crisis, said its top official. 
 
A specialist in UK and Spanish real estate sector, GRE Assets has offices in Riyadh, Saudi Arabia.
 
“I was in Saudi Arabia dealing with business matters just before the lockdown began in the UK and decided to stay to co-ordinate things from here,” remarked GRE Assets’ Managing Director Michael El Kassir. 
 
“It has been interesting to not only see the differences in approach in the three countries in which we operate but for the UK market, in particular, to gain first-hand insight of places that are two weeks or more further along the curve,” he stated. 
 
Two weeks into the UK’s lockdown and calls for a clear exit strategy are getting louder by the day with government advisors admitting a more nuanced approach may be needed – continuing to shield the most vulnerable in society while allowing some semblance of normality to return.  
 
The UK Government is due to review the existing restrictions on April 13, immediately following the upcoming Easter Bank Holiday weekend. 
 
While it is expected the lockdown will remain in place for now, El Kassir is confident the long-term impact on GRE Assets and UK investment more broadly will be minimal. 
 
"At the moment on the construction side of our business we are still reacting day by day to what is before us with the health and safety of our staff of prime concern, while continuing to deliver new homes for our clients," he stated. 
 
“Our experience of the financial crisis of 2008 highlighted the importance of being quick to react and being ready for when normal business resumes. In that regard we have been using this time to regroup and ask searching questions of ourselves as a business, including looking afresh at local plans put forward by planning authorities to ensure we maximise any future development opportunities," he added.-TradeArabia News Service



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