Why the Dubai real estate market needs a new approach to customer retention

Valentin Kulikov, CEO of Sunlocate Properties, a serial entrepreneur and UAE real estate expert who built his foundation on scaling service businesses in a highly competitive environment. His 15 years of experience working with demanding clients and complicated sales have become the foundation for Customer Happiness — a systemic approach to managing the customer experience. According to Kulikov, “in modern real estate, growth is determined not by the number of transactions, but by the depth and duration of the client relationship. Client happiness is becoming a measurable business asset.” 

The Dubai real estate market has achieved steady growth: in the first half of 2025, more than 98,000 transactions worth AED 327 billion were concluded. The average price per square foot has increased by approximately 75% over four years, reaching AED 1,750. Rental rates in key regions are increasing by 8-20% annually, with average rental yields ranging from 7,4% to 9,4% in certain regions. 

However, Kulikov argues that market growth alone does not guarantee business sustainability. Drawing on his entrepreneurial experience and studying client behavior, he notes that the “sell and forget” model is no longer effective in mature markets. Modern investments take into account the impact of mindset, transparency, and support, as well as advances in private banking. 

This is how the Customer Happiness system was formed, which was put into practice at Sunlocate — a management model focused on LTV and long-term client relationships, rather than one-time sales. It includes behavioral analysis, personalized investment events, ongoing activity monitoring, and proactive post-transaction communication. “It’s important to evaluate a client’s happiness years after the purchase, not on the day the contract is signed,” Kulikov notes. 

“It’s important for an investor to be confident that their partner won’t disappear after the deal, and his assets are monitored professionally,” he insists. At Sunlocate, this is achieved through regular analytical reviews, strategic sessions, and personal consultations, extending beyond the scope of a traditional brokerage. 

The relevance of this system, coupled with the fact that most foreign investors — from the US, UK, India, and Canada — evaluate not only the potential for price growth but also the service’s reliability, regulatory expertise, and the company’s willingness to assume responsibility after the transaction. Managing expectations and reducing uncertainty for clients are crucial elements of an entrepreneurial strategy. 

As the Dubai real estate market develops, mature companies that fail to develop a systematic customer experience management system risk losing their competitive position. Valentin Kulikov’s practice demonstrates that sustainable growth occurs when customer happiness is not a slogan, but a managed system with multiple processes and metrics. 

As a result, the concept of Customer Happiness is becoming a trendy term and a form of business strategy, implying a new standard for leadership in the real estate market in the Middle East and North Africa and beyond. 

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