logo
Missed the latest Gulf Business real estate panel? Watch it all here

Missed the latest Gulf Business real estate panel? Watch it all here

Gulf Business21-02-2025
The Gulf Business Business Breakfast Briefing: Real Estate Edition, held on 20 February 2025 at The Westin Mina Seyahi in Dubai, brought together top industry leaders, investors, and stakeholders to discuss the evolving UAE real estate market.
Under the theme 'Breaking Ground: The UAE Real Estate Outlook,' the event provided valuable insights into the future of the property sector across Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah.
The briefing featured three dynamic panel discussions, keynotes from industry leaders, and the prestigious Game Changers Awards. Attendees explored critical market trends, policy shifts, and emerging opportunities shaping the UAE's property landscape.
Attendees of Gulf Business' February 20 panel gathering before proceedings kicked off.
Gulf Business would like to thank its partners who made this special event possible: Alef Group, IRTH Group, ANAX Developments, Century Financial, GROHE, and Samana Developers.
You can view all the photos of the event by clicking to view this
If you missed the event, you can catch up on all the action by watching the videos posted below.
Panel 1: Will Dubai's Property Boom Continue?
Dubai's real estate sector has experienced an unprecedented boom, driven by strong foreign investment, regulatory reforms, and luxury developments. But with global economic uncertainties, fluctuating interest rates, and increasing supply, is the growth sustainable?
This panel, moderated by
Taimur Khan, Head of Research MEA at JLL
, examined key factors influencing Dubai's real estate trajectory over the next five to ten years. Discussions covered the sustainability of the boom, the impact of golden visas on demand, and whether the surge in off-plan sales signals healthy growth or an overheating market.
Speakers:
Fibha Ahmed, Vice President of Property Sales, Bayut
Ravi Bhirani, MD, Anax Developments
Stefan Schmied, Leader IMEA, LIXIL International
Dounia Fadi, Managing Director, eXP Dubai
Panel 2: The New Growth Hubs – Ras Al Khaimah, Abu Dhabi & Sharjah
While Dubai remains the UAE's real estate leader, other emirates are stepping up as investment destinations. Ras Al Khaimah's Al Marjan Island, Abu Dhabi's government-backed mega-projects, and Sharjah's focus on sustainable luxury housing are reshaping the landscape.
Moderated by
Gareth van Zyl, Group Editor, Gulf Business
, the discussion compared these emerging hubs, exploring investment potential, ROI, and government incentives.
Speakers:
Issa Ataya, CEO, Alef Group
Andrew Thomson, Partner, Head of Real Estate, Hotels & Leisure, Al Tamimi & Company
Fouad Bekkar, CEO, Coralytics
Panel 3: UAE's Property Market 2025 – The Next Big Moves
As the UAE real estate sector matures, increased transparency, homeownership trends, and regulatory shifts are shaping its next phase of growth. The expansion of freehold areas, the evolution of RERA's regulatory role, and improved data access are transforming the market.
Moderated by
Anand Menon, CEO, LION EDGE Consultancy
, this panel explored the future of homeownership, investment hotspots, and the balance between supply and demand.
Speakers:
Daniel Hadi, CEO Middle East, Engel & Völkers
Louis Harding, CEO, Better Homes UAE
Osman Celiker, Managing Director, IRTH Group
Imran Farooq, CEO of Samana Developers
Game Changers Awards & Full Event Recap
The event concluded with the
Game Changers Awards
, recognising individuals and organisations shaping the future of UAE real estate. Winners were honoured for their contributions to innovation, sustainability, and market growth.
For those who missed the live event, you can also watch the
full event recording
here:
Stay tuned for more Gulf Business industry briefings, offering unparalleled access to expert insights and networking opportunities.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Arabian Automobiles' Hussam Baghdadi on driving customer-centric innovation
Arabian Automobiles' Hussam Baghdadi on driving customer-centric innovation

Gulf Business

time17 hours ago

  • Gulf Business

Arabian Automobiles' Hussam Baghdadi on driving customer-centric innovation

Images: Supplied Hussam Baghdadi, senior director at Arabian Automobiles Company ( Gulf Business about how the company is navigating a competitive UAE automotive market. From digital-first buying journeys and flexible ownership models to data-driven insights and emerging mobility trends, Baghdadi shares how Arabian Automobiles is redefining customer experience and staying ahead of evolving consumer expectations. Here are excerpts from the conversation. How is AAC adapting to shifting consumer expectations in the UAE, especially with the rise of digital-first car buying journeys and demand for greater transparency in the purchase process? Customer-centricity remains a core pillar of our strategy. Rather than responding to changes, we aim to anticipate and shape them, especially as the UAE consumer becomes increasingly digital-first. This approach has driven a comprehensive transformation across our retail and service ecosystem. We've focused heavily on e-commerce enablement and digital campaign integration, ensuring customers can engage, explore, and act seamlessly across digital platforms. Our AWR Connect app allows customers to manage their entire ownership experience, from booking services and tracking delivery to accessing aftersales support, all via a single interface. Our Customer Experience Division has undergone a full digital transformation to enhance operational efficiency, reduce wait times, and increase service productivity. Looking ahead, advanced technologies such as AI-powered concierge services and dynamic inventory systems, driven by predictive analytics, are helping us personalise the customer journey, optimise stock allocation, and provide seamless online-to-offline experiences. Our goal is clear: a frictionless, transparent, and connected experience that consistently exceeds expectations. With Dubai investing heavily in transforming its automotive ecosystem, how is the company aligning its strategies to stay ahead in areas like aftersales innovation, mobility services, and customer experience? Dubai's vision for a future-ready automotive ecosystem is one we actively support. We focus on placing the customer at the heart of every decision and delivering value throughout the ownership journey. Our aftersales initiatives include real-time service booking, seasonal maintenance programmes, proactive service alerts, and pick-up and drop-off services during peak periods. State-of-the-art facilities are continuously upgraded with interactive screens and advanced systems, creating faster and more intuitive service experiences. We are also expanding our parts business digitally and developing a new platform to enhance speed, transparency, and flexibility. Our mobility services are evolving with flexible lease offerings, bundled packages, and digital tools to empower customers. By connecting sales, aftersales, and mobility services, we aim to deliver a seamless and future-forward experience reflecting Dubai's momentum as a hub for smart, sustainable mobility. Given the ongoing recovery from global supply chain disruptions, how is AAC managing inventory planning, vehicle availability, and delivery timelines? The UAE benefits from world-class infrastructure and advanced customs systems, keeping supply chains efficient. Our proactive planning and forecasting, developed with global OEM partners, help manage inventory effectively and maintain availability across our network. Early container bookings, diversified shipping routes, and strong supplier relationships allow us to respond to global challenges with minimal disruption. The upcoming Parts Distribution Center (PDC) will further streamline planning, optimse inventory, and maximise order fulfillment, reinforcing the high standards of service Arabian Automobiles is known for. Dubai's economic stability across logistics, tourism, real estate, and finance supports sustainable automotive growth. With car ownership in the UAE evolving beyond just new vehicle purchases, how is AAC addressing the growing demand for used cars, flexible financing, and lease-to-own options? Customer-centricity drives every offering. Our 'Rent to Own' and 'Lease to Own' campaigns provide convenient, cost-effective pathways to vehicle ownership, particularly across Nissan and INFINITI models. Flexible financing is a core pillar, supported by leading banks offering competitive EMI plans, deferred payments, and streamlined approvals. Our NXT brand ensures used cars meet strict inspection and certification standards, emphasising quality, safety, and reliability. Together, these initiatives demonstrate a commitment to modern, adaptive mobility solutions across all stages of the ownership journey. How do you see customer preferences shifting between buying new vs. used vehicles, and what insights has AAC gathered about what today's buyer prioritises most — price, warranty, tech, or convenience? Customers today are empowered, research-driven, and increasingly open to alternative ownership pathways. While new vehicles appeal to those seeking innovations and design, the used car segment is growing due to value, flexibility, and reassurance. Key factors shaping this shift include price sensitivity, value consciousness, and confidence in certified pre-owned programmes. Convenience has emerged as a decisive driver, with transparent, secure digital transactions making the buying and selling process simpler. Investments in rigorous inspection, flexible financing, trade-ins, and predictive analytics ensure inventory aligns with demand. Price, flexibility, warranty, aftersales support, technology, and convenience are now all key differentiators across new and used segments. Given the UAE's diverse and competitive automotive market, what consumer trends have surprised you the most in recent years, and how is AAC using data to adapt and stay ahead of expectations? A defining trend is growing consumer appetite for innovation and design-led experiences. UAE customers increasingly seek vehicles with advanced technology, intelligent safety, electrified powertrains, and contemporary aesthetics. Younger, tech-savvy drivers view vehicles as extensions of their lifestyle. Demand for smart mobility, intuitive infotainment, and sustainable engineering is rising. Data and analytics play a central role in demand forecasting, inventory optimisation, and personalised offers. Every touchpoint — from showroom layout to digital engagement — is informed by real-time data to ensure relevance. Sustainable mobility adoption continues to grow, supported by national policies and infrastructure investments. Staying competitive in 2025 means embedding these priorities across the value chain in alignment with evolving customer expectations. Read:

Air Arabia CEO Adel Al Ali on the strategy behind the airline's rise
Air Arabia CEO Adel Al Ali on the strategy behind the airline's rise

Gulf Business

time2 days ago

  • Gulf Business

Air Arabia CEO Adel Al Ali on the strategy behind the airline's rise

Image: Supplied As the region's first and largest low-cost carrier (LCC), In this conversation with Gulf Business , group CEO Air Arabia has set a benchmark as the MENA region's first and largest LCC. Tell us about this journey since its 2003 launch — the successes, growth, and transformation. It's been a great journey, and overall, we're very happy. Of course, like any journey, there were some bumps along the way. But we take pride in how Air Arabia has changed the way people travel in this region. The airline has made flying more accessible and helped grow tourism and trade. We've connected families, created jobs, and transformed travel into something that's for everyone — not just the wealthy. How has Air Arabia adapted to evolving travel trends and consumer perceptions? People and businesses have changed in the last 20 years, driven by technology and global exposure. Travel became something people wanted to do repeatedly. We provided the platform to enable that. When we started, many people didn't even understand what a low-cost airline was. Today, it's become second nature. We gave people choices, and we went beyond capital cities to secondary airports, making travel more personal and accessible. Over time, we've helped people understand the aviation industry, not just as passengers but as informed stakeholders. The more people understood, the more they travelled — and we grew together. What are three key milestones that shaped Air Arabia into the success it is today? First, the business model itself — bringing the low-cost, value-for-money airline concept to the region. That alone changed the game. Second, overcoming perceptions. Initially, low-cost meant low-quality or unsafe to many in this region. But we proved that safety and service were paramount. Once passengers experienced the product, they saw that it was among the best economy offerings out there. Third, going public. We were the first airline in the Arab world to list. That connected our customers to the business — they became shareholders. It built loyalty and transparency. We've also weathered geopolitical disruptions and crises such as the Covid-19 pandemic. Looking back, these challenges made us stronger and more agile. How has technology played a role in shaping operations and customer experience? Massively. Operationally, tech helps us fly better, manage fuel, and run multiple hubs remotely. We can operate out of Morocco, Egypt, Pakistan, and the UAE from one central team. On the customer side, it's been a total shift. In 2003, just 10–12 per cent of bookings were online. Today, most customers book through mobile, engage with us digitally, and only appear physically at the boarding gate. Ticketless travel was once unheard of — now it's standard. AI, real-time data, contact centers replacing call centres — it's all enabled faster service and deeper customer knowledge. Tech is now a top-three cost after aircraft and fuel, and it's an investment we'll continue to make. With sustainability top of mind, how is Air Arabia approaching sustainable aviation fuel (SAF) and greener operations? Technology allows us to monitor efficiency, including fuel burn and engine performance. We continuously work on reducing environmental impact — newer engines, smarter flight paths and SAF initiatives. Sustainability and efficiency go hand in hand, and we're fully committed to both. Air Arabia is known for its consistent growth—new hubs, underserved routes and fleet expansion. What's the thinking behind this strategy? Our strategy is demand-driven. We go where there's a need — whether that's connecting families, supporting trade, or unlocking tourism. Before us, most airlines only served capital cities. We started flying to smaller airports — Alexandria and Upper Egypt, not just Cairo; smaller cities in Pakistan, not just Karachi; and regional destinations in Central Asia. We build markets. We started flying to Poland just two years ago, and we're already expanding to three airports there. Sometimes other airlines follow us into those markets — and that's healthy. It stimulates demand and grows the industry. What challenges do you see shaping the aviation sector today, and how are you navigating them? Challenges never go away —they just evolve. Post-Covid, supply chain issues like delays in aircraft and spares have been tough. Our region's climate — dusty and hot — affects engine performance. Oil prices remain a cost factor, but we hedge fuel purchases, so we manage it. Currency volatility, regulatory hurdles across different jurisdictions, strikes in various markets — these are part of the reality. You have to stay agile and adaptable. During Covid, we shifted resources to Morocco when Asia was shut, then moved them back. Our model allows us to respond quickly. That flexibility is key. Beyond being a transport provider, what role does Air Arabia play in regional economic development? Aviation drives prosperity. When we started in 2003, Sharjah Airport had 200,000 passengers annually and maybe 1,000 staff. Today, it's more than 20,000 staff and a full-fledged ecosystem — from taxis to restaurants and hotels. Every new flight creates economic ripple effects — jobs, tourism, infrastructure. We've seen that in Sharjah and across the UAE. It's not just about travel; it's about enabling economic growth and improving quality of life. What values have helped Air Arabia grow, and what can other companies learn from your approach? Keep it simple. Stick to your promise. We've had the same business model for 20 years because it works. Change only when it adds value to customers or operations — don't change just for the sake of it. Leadership is about surrounding yourself with the right people and letting them do their best. If you insist on everything being done your way, you miss out on new ideas and innovation. It's about empowering your team. Read: What's next for Air Arabia as we move into the second half of the y ear and beyond? We're growing. We have 120 aircraft on order, with five arriving in Q4 this year. Some of these have longer range, enabling us to fly nine-hour sectors east, west, or north. We're expanding our network, especially in the Arab world. We're also investing in our people — our leadership development is a key focus. The brand has strong recognition across the region, and we're excited to share our expertise more broadly and continue building a more connected and competitive aviation industry.

ADNOC Drilling's Youssef Salem on H1 2025: Strong growth, tech-driven efficiency, and strategic expansion
ADNOC Drilling's Youssef Salem on H1 2025: Strong growth, tech-driven efficiency, and strategic expansion

Gulf Business

time7 days ago

  • Gulf Business

ADNOC Drilling's Youssef Salem on H1 2025: Strong growth, tech-driven efficiency, and strategic expansion

Image: Supplied The company's revenue was up 30 per cent year-on-year to $2.37bn, EBITDA rising 19 per cent to $1.08bn, and net profit up 21 per cent to $692m. Segment performance was robust: onshore revenue surged 18 per cent to $1bn, offshore edged up 1 per cent to $671m, and oilfield services exploded by 127 per cent to $689m. In this discussion with Gulf Business , CFO Youssef Salem shares insights into the operational drivers behind the numbers, the company's ambitious technology roadmap, and how ADNOC Drilling is positioning itself as a leader in sustainable, high-efficiency drilling across the Middle East and North Africa. Salem outlines how strategic contract wins, disciplined capital allocation, and a focus on safety and innovation are shaping ADNOC Drilling's trajectory for the rest of 2025 and beyond. ADNOC Drilling reported a 30 per cent rise in revenue to $2.37bn and a 21 per cent rise in net profit for H1 2025. What were the key operational factors behind this bottom-line growth? Several factors contributed to this strong financial performance. First, our rig fleet expanded rapidly in 2024 with more than 20 new rigs added. This half-year reflects the full financial impact of those additions. With recent acquisitions in Oman and Kuwait, our fleet now numbers around 149 rigs, making it one of the largest in the Middle East and North Africa. Second, ADNOC has accelerated its production roadmap, aiming to reach five million barrels per day by 2027, moved forward from the original 2030 target. As the sole drilling provider in Abu Dhabi, this ramp-up means more drilling activity and additional oilfield services contracts. Our oilfield services segment has been the fastest-growing area, with over 100 per cent year-on-year growth. Third, we're unlocking new resources, especially in unconventional drilling. Last year, we secured a $1.7bn We're also delivering ahead of plan in both conventional and unconventional operations, thanks to adopting advanced technologies, including AI platforms that source and integrate global innovations locally to boost efficiency and financial returns. On the technology side, what has ADNOC Drilling been focusing on in terms of adoption and investment? Our technology strategy has three main verticals, all powered by AI. AI-enabled rigs: We're bringing six new offshore rigs between 2026 and 2028, all equipped with advanced automation and autonomous capabilities surpassing our current fleet. Meanwhile, we are retrofitting existing rigs with smart cameras that use computer vision to anticipate safety hazards — this improves safety and operational reliability. Technology-enabled services: AI is transforming our existing services. For example, Measurement While Drilling now incorporates predictive analytics to forecast downhole events, enhancing decision-making. In directional drilling, autonomy reaches up to 95 per cent in some underground sections, allowing crews to work remotely and focus on higher-value tasks instead of repetitive, high-risk activities Corporate-level AI: ADNOC has invested in Mirai, an AI 'board observer' recently introduced to our board meetings. Mirai participates in discussions, helps moderate, and boosts strategic planning, execution tracking, and risk management. How has investment in AI changed compared to five years ago? It has increased dramatically. Our Enersol technology platform, which delivers automated drilling services, represents a $1.5bn joint venture investment, with Altogether, over $1bn is being committed to AI-enabled equipment and services over the next three years. AI is not a side project — it's embedded into our drilling assets, service offerings, and corporate processes. It's critical for operational excellence, financial performance, safety, and meeting ADNOC's national targets. You secured $4.8bn in new contract awards in H1, a record for the company. How does this affect earnings visibility and CapEx plans? The $4.8bn contract wins significantly improve earnings visibility and support our upgraded guidance for H2 2025. These awards reflect ADNOC's accelerated plans, enabled by our technology investments. In unconventional drilling, AI tools like NIRU and DrillOps, along with autonomous directional drilling, have cut well drilling times by up to 50 per cent, from 30 days down to 14 in some cases, enabling ADNOC Onshore to drill more wells without adding rigs. We're also deploying hybrid rigs powered by grid connections and battery systems, supporting ADNOC's sustainability targets of reducing emissions by 25 per cent by 2030 and achieving net zero by 2045. These initiatives align operational efficiency with environmental responsibility, strengthening our long-term client partnerships and contract prospects. What returns do you expect from your Kuwait and Oman rigs once integrated? We anticipate high-teens free cash flow yields, well above our current high single-digit yields, due to favourable transaction multiples — below four times EBITDA — and deal structures with earn-outs. This will help lift our ROE from 35 per cent into the high 30s. What are the key execution risks or challenges that could impact this growth? We focus on three areas: Future-proofing: The UAE's competitive advantage lies in its low cost and emissions per barrel. We must maintain that edge through leading technology adoption, owning intellectual property, and sharing best practices across the region. Our Enersol platform, with over 140 patents, is crucial for technology sourcing. Sustainability: Balancing accelerated capacity expansion with emissions reduction demands continuous investment in low-emission services and operational efficiency. Safety: With more than 11,000 employees across over 140 rigs, safety is paramount. We leverage AI to predict and prevent incidents and use autonomous equipment for high-risk tasks to keep more personnel working safely in remote centres. Oilfield services saw the fastest growth in H1. Are margins sustainable within the guided 22 to 26 per cent range? Yes, margins remain above 22 per cent and are expected to stay within guidance. Our ability to offer integrated drilling and oilfield services packages is unique in the region, delivering efficiencies for clients and sustained profitability for us. The unconventional segment is a major growth driver and has attracted major international investors, including EOG and Petronas, into UAE unconventional concessions, confirming the strong economics of these resources. How do you balance shareholder returns with CapEx and expansion plans? We declared two interim dividends in 2025, with $217m approved for Q1 and Q2 each, making ADNOC Drilling the only UAE company paying progressive quarterly dividends. Our policy is to grow dividends by at least 10 per cent annually over five years. This is supported by record free cash flow generation. H1 free cash flow was around $727m — more than all of 2024 — with over 100 per cent conversion of net income to free cash flow. With a low leverage ratio of 0.9 times net debt to EBITDA, we have the balance sheet strength to invest over $1bn annually while sustaining dividends. How do you manage such a wide remit across operations? We use a decentralised but aligned operating model. Three SVP oversee onshore, offshore, and oilfield services. Each growth platform — like Turnwell and Enersol — has its own CEO accountable for operations, finances, and safety. At the corporate level, our role is to drive synergies across platforms and identify new growth verticals. Ownership remains with each segment, with P&L fully allocated down to net income at segment level. What are your top three leadership lessons? People: Empowering leaders across every level, whether investor relations, finance, or operations, is essential. Alignment: Clear 'North Star' goals, like achieving $1.45bn net income this year and $5bn revenue next year, unite the organisation while maintaining safety as a non-negotiable priority. Purpose: Balancing service to the nation's energy goals with protecting shareholder value keeps us focused and motivated. In such dynamic times, what should energy sector CFOs prioritise? Resilience is key. In volatile markets, investors want stability and reliable execution. JPMorgan recently upgraded ADNOC Drilling, calling it 'a raft in a sea of uncertainty.' We are also the most overweight stock in global emerging markets relative to the FTSE index and the most buy-rated company in MENA. Delivering resilience is everyone's responsibility.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store