February Newsletter from Bazzi FM!

Dear Friends,

My wife and I decided to do a joint update this month... a small dose of Bazzi FM, if you like.

See below, and hopefully you'll find enough in the way of a market summary in the interview.

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How have things changed for you during and after pandemic?

Karim: I'm noticing a lot of changes in my industry especially. You might have thought that property, alongside finance, was the industry most immune to change. But I think the pandemic has done its work here too. People are more independent - many have left large organisations and now function independently, as a part of the mycelium of relationships that exists below, and supports, the corporate level. This means that things are less transactional and more relational, and people have the chance to show their true colours which I enjoy. 

Najwa: In terms of design there is so much happening. I think we are in an age where the intelligent use of space is one of the key questions. As such you have lots of industrial design as unused spaces are modernised and brought up to speed with the times - like a project we are completing inspired by the railways, using stripped back steel that reveals the structure of the building. During the pandemic it became clear to me that people needed a better balance. Everyone wants luxury and comfort, but meaning is just as important now. Depth has become a necessity because everyone has been stopped in their tracks by covid... and slowing down means things are deeper and less superficial. Design has to reflect that.

What is happening in the property industry now things are fully open again?

Najwa: Big projects are being given the go ahead again. I have a lot of work coming in that I can't talk about yet, with launches later this year now things are once more in motion. There is a lot of modernisation going on but also new builds are happening again, as in they are thriving and people are buying and investing - after a palpable gap throughout the pandemic. At Homes One we are also noticing the middle eastern market starting to come back which has been key for us, and there are rumours of a new boom in Saudi, which means confidence - especially post-Covid where people have sitting on their hands waiting.

Karim: I am predicting a strong two years ahead with a 10-15% upswing for prime residential. The word on my mind is hunger, for several reasons, and not in terms of greed. I think there are a number of reasons people are feeling proactive - it's a new year with no restrictions for the first time since 2018/19. Then there's the spring market which starts kicking in after February half term, and brings energy. But really I think it's a hunger based on a return to normal life - even though things have changed. We have forgotten how it feels to live without health concerns . Added to which throughout the pandemic inventory has been very low throughout the property industry - so now is a mouth watering time if you've been waiting for standard market conditions - and abundant choice - to return. Unfortunately there is very little choice and stock feels like it is at an all-time low however I believe it will soon improve. In the meantime you have to be very precise - the scattergun approach doesn't work with such a dearth of stock. You have to be more like a sniper.

Najwa what are the main design trends you are seeing on your projects?

Najwa: Mainly I am working for developers and they want meta-themes like innovation, but not at the expense of value. Although some private clients always want neutral tones, my bigger projects are about standing out and making a statement, making an impression in people's minds and hearts. Being unforgettable is important - everything has to be instagrammable - especially when so much development is happening. One of my major projects is inspired by Chi - the life force we all channel. We were asked to bring the outside in, so we focussed on using green onyx which is densely veined, to channel natural energy and reflect the development's adjacency to the river. Other than that diversity is key and we have to cater for a wide range of cultural backgrounds. Coming from Lebanon and settling in London took me a long time, so I have personal experience of that kind of journey and I love taking these considerations into account. Inclusion is key to these times, and to design as well. 

Karim what's happening in your side of the business?

Karim: My personal goal is to be the foremost buying agent in London for foreign buyers. That's my niche. But I am just as focused on finding a genuine match for my clients, a place they can really call home and feel a sense of spiritual wellbeing in. My own personal history, of Lebanon as a young man and then moving to London, meant that it took a long time to find a place I could call home. Helping other people to find a sense of place is something I'm genuinely passionate about as a result, and I'd like to start a podcast that reflects this journey. One thing I want to make inroads with this year is involvement with a small number of charities I have been inspired by, in homelessness, the refugee crisis, and possibly other areas. I would like to inspire more activism of this kind in the property industry. 

And for both of you as a family what's on the horizon this year?

Najwa: We are so lucky and I am so grateful, to be doing work we enjoy and working for a diverse range of clients. I would like more of the same, and maybe a bit more relaxation. I'm also just finishing a three year project in Malta - a large farmhouse in a rural location where I was able to really express myself and be creative. More of the mediterranean life would be great! 

Karim: Yes, quite... I would like more relaxation too which I refer to as my inner mediterranean. And better work life balance I hope! Covid has been so positive for this and I'd love to see that continue. In addition to that I've recently finished a four day juice fast so I'm looking forward to eating normally again and it being the centre of my life, like all Lebanese people! And I wish our whole community a healthy, happy and abundant year ahead.

Thank you, Mr & Mrs Bazzi!

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We hope the year has started well for you and look forward to reconnecting!

Warmly,

Karim