Publication: Trends
Editor: Maryam Rahmani
Date:
Title: “Empire Builder: Unveiling the Success Secrets with Abbas Sajwani, CEO of AHS Properties”
Abbas Sajwani the Founder and CEO of AHS properties. Steeped in a legacy of entrepreneurial brilliance, Abbas stands as a prominent Emirati businessman and entrepreneur.
Demonstrating entrepreneurial insight and expertise at an early age, Abbas founded the AHS Group, which has quickly grown to encompass three verticals: Ventures, Investments, and Properties.
Under his leadership, the company boasts a portfolio valued at around $1.65 billion and over 2,000 individuals in almost two years, with bold aspirations to emerge as one of prominent conglomerations in the region.
His strategic and tactical acumen have been central in molding the course and success of his ventures.
1) Please tell us about yourself; your background and how you got into the family business which is now the premier real estate developer in the region?
Since an early age, real estate has always been our daily conversation topic throughout the weekends. Travel and family gatherings have consistently been the focus of our discussions, and this is undoubtedly due to my father, Hussain Sajwani, the Founder and Chairman of DAMAC Group.
I have been closely involved in the entire process from inception to delivery, monitoring the steps and keeping me closely connected to the market and its needs.
2) What made you launch a new entity/company (AHS Properties) instead of continuing at DAMAC like your siblings? Is AHS a subsidiary of DAMAC or an independent entity? What is the link/business relation between AHS Properties and DAMAC, if any?
This decision was by no means easy, but I was determined to embark on a venture that would make my father proud, just as I take pride in him.
While I received support in the early stages, AHS Properties is entirely independent of DAMAC, possessing its entity and identity. With great pride, I can affirm that AHS Properties has also secured a unique position in the ultra-luxury real estate market. Our projects stand out primarily for their unparalleled luxury and distinctiveness.
3) Please tell us about AHS Properties. What are the unique characteristics of the company compared to other real estate developers in Dubai/Region? What are some the most exciting projects you have done or are currently working on?
AHS Properties was established in 2021 with an asset value of $100 million. Initially, the company focused on acquiring villas located in prime and distinctive locations in Dubai, completely renovating them to new ultra-luxury villas.
The goal was to infuse all the elements of ultra-luxury, creating a new and unparalleled lifestyle – a philosophy we continue to uphold at AHS Properties.
The experience proved crucial and met with great success as the company successfully renovated and sold five villas in prime areas of Dubai, such as Palm Jumeirah and Emirates Hills. This affirmed the accuracy of our market analysis and the growing trend towards ultra-luxurious real estate.
As a result, we embarked on creating a new phase in the company’s journey, elevating the concept of ultra-luxury to a new level. We began developing projects under construction, starting with our first project, One Canal. Let me clarify what sets our projects apart: boutique apartments, penthouses, and sky villas. Our projects avoid conventional apartments or high-rise towers, typically featuring a maximum of 14 or 16 floors.
In One Canal, the unique penthouse was sold for $50 million, and the entire project was sold out.
Following this success, we initiated the One Crescent project, and recently announced our new and distinctive project, Casa Canal, in collaboration with the renowned global brand Fendi Casa.
Our constant pursuit of the best and the unprecedented sets our projects apart. From interior to exterior designs, we collaborate with top designers and architects to ensure the highest quality and unique designs for our projects. We partnered with the acclaimed architect behind the Museum of the Future, Shaun Killa, for architecture, the professional company HBA for interior designs, and the famous brand Fendi Casa. Our distinctive approach to our clients involves customizing units based on their specific needs and desires. In every project, I strive to make everything distinctive and unique, putting myself in the residents’ shoes and working to provide everything they dream of. We aim to make all our projects stand out and offer a living experience.
4) What is your prediction about Dubai’s luxury real estate market? The growth seems to be continuing despite concerns about a developing bubble that may burst in 2024/5. What are your thoughts on that?
I can confidently see the real estate market in Dubai continuing its upward trajectory, and several reasons contribute to this, with the primary one being Dubai itself. Dubai has become a global hub for business, investment, and living.
When we consider the global situation, Dubai’s ability to stand firm in the face of global economic challenges is a testament to the country’s wise leadership. The decisions and laws implemented not only bolster and empower its economy but also foster the establishment of businesses and foreign investments. This is a characteristic not easily observed in several other countries worldwide.
Therefore, the real estate market in Dubai will sustain its growth.
5) The luxury property market in Dubai is constantly evolving with one trend being the villa apartment concept (where you can have a garden and/or even swimming pool in an apartment unit). What are some of the other emerging trends? Is AHS focusing on one or some of them?
The guiding philosophy in luxury properties is that everything one desires should be attainable. When acquiring a residence with a starting price of $25million and reaching into the realm of multimillion-dollar properties, it becomes imperative that every conceivable comfort is seamlessly integrated. This is especially crucial given that the clientele for such properties are end-users seeking to inhabit these spaces. The emphasis lies in ensuring the property is privacy, design, and amenities unparalleled.
Our recent project, Casa Canal, exemplifies this commitment by providing an unmatched array of services and facilities for residential units. These encompass indoor and outdoor swimming pools, a cinema room, a fitness club, spa facilities, a cigar lounge, global culinary experiences, and numerous other features that collectively deliver a distinctive living experience.
At AHS Properties, we prioritize meeting and exceeding our clients’ requirements and aspirations. We remain steadfast in our dedication to continually surpassing expectations.
6) What do you enjoy most about the real estate development world? What do you find the most challenging about it? What are your ideals and values in business? What motivates you to keep going?
Working in real estate is inherently gratifying and motivating. Each time we start developing a new project, the preparatory stages are demanding and require concerted effort from everyone involved. As we initiate the next endeavor, we aim to deliver the best, the latest, and the unparalleled.
The entire process is enjoyable and significant, especially for someone like me who closely monitors details and follows through from site selection, designs, features, and execution to sales. We consistently strive to convey not just what we’ve worked on but to surpass expectations, adhering to the highest standards of quality and luxury.
Our commitment is always to present all we have worked on and more. Adhering to the highest standards of quality and luxury, our goal is to bring joy to the residents of our projects and provide them with an unparalleled living experience. This keeps me motivated – seeing our clients ecstatic and content in their dream homes. This genuine motivation drives all of us at AHS to strive for the best and excel in offering the most luxurious properties and lifestyle experiences.
7) Last but not the least, what do you want to achieve next (expansion plans, new projects)? What would you like your legacy to be?
I am very proud of AHS’s achievements over the past few years; during this short time frame, the company’s portfolio has grown from $100 million to $1.65 billion, with almost 2,000 employees. I truly take pride in every one of them. I look forward to accomplishing even more with unwavering dedication. What I envision for the future is our commitment to the excellence and luxury of our properties, redefining the concept of ultra-luxurious real estate in Dubai and the region.
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