2020 REAL ESTATE POWER LIST 

•    NEOM CEO Nadhmi Al-Nasr and Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World and Virgin Hyperloop One, among major MENA names recognised by industry professionals
•    UAE tops regional representation with 13 influential heavyweights listed
•    10 influential regional brokers and real estate consultants also named in separate houza-sponsored list, here

Dubai, UAE, 25 January 2021: The 20 most influential individuals in the MENA real estate industry have been revealed in the first-ever 2020 Cityscape Intelligence Real Estate Power List, a new regional power list nominated by industry professionals to recognise exceptional leadership in a year defined by the Covid-19 pandemic.

2020 Most influential individuals in the MENA real estate industry Power List*:

•    Khaled Abbas, Deputy Minister of Housing, Utilities, and Urban Communities for National Projects, Egypt

Khaled Abbas, Deputy Minister of Housing, Utilities, and Urban Communities for National Projects and the Ministry of Housing, has faced a tough 2020 but his department's objectives to establish new and sustainable communities and cities remains top of their agenda and a priority towards the country’s 2030 Vision.

 

 

 

 

•    Ahmed Yusuf Abdulla, CEO, Seef Properties

Bahrain’s Seef Properties CEO, Ahmed Yusuf Abdulla, has over 23 years of real estate and project management experience.

Overseeing the company’s growth, Yusuf Abdulla has ensured that the company manages a vast portfolio of assets across the Kingdom, further cementing it as a brand backed by a diverse business and real estate portfolio.

 

 

 

•    Mohamed Alabbar, Founder, Emaar Properties

Considered one of the leading business and property figures in the MENA region, Mohamed Alabbar has secured Dubai’s position as a global tourism hub.

Instrumental in the development of the tallest building and largest mall in the world, Alabbar has also, over the last decade, successfully diversified Emaar into hospitality, leisure, retail, and financial services and established Emaar’s global presence.

 

 

 

•    Waqas Al Adawi, Vice Chairman, S&T Group

The Vice Chairman of S&T Group, Waqas Al Adawi, has spent 13 years at the Oman-based conglomerate, with over eight years in his current role.

 Al Adawi is revolutionising the company’s technology adoption with a focus on infrastructure development.

 

 

 

 

•    Talal Al Dhiyebi, CEO, Aldar Properties

CEO of one of Abu Dhabi’s most instrumental developers Aldar; Talal Al Dhiyebi, previously held the position of Chief Development Officer and Executive Director of Asset Management since the merger with Sorouh in 2013.

He held several senior positions at Aldar and currently serves on the boards of several companies including Abu Dhabi Motorsports Management, Al Jazira Capital, Aldar Academies, Aldar Etihad Investment Properties and Aldar Hotels & Hospitality.

 

 

 

•    HE Falah Al Ahbabi, Chairman, Department of Municipalities and Transport (DMT), Abu Dhabi 

A key figure in contributing to Abu Dhabi’s non-oil GDP growth, HE. Falah Al Ahbabi has made his mark on the capital’s real estate sector.

His career expertise extend well beyond the urban planning sphere, and encompass a number of vital development initiatives, including elevating the competitiveness of Abu Dhabi’s real estate sector, development of integrated and sustainable communities and having established Abu Dhabi Aviation Training Centre, the Middle East’s first helicopter training facility.

 

 

 

•    HE Reem Al Hashimy, UAE Minister of State for International Cooperation and Director General of Expo 2020 Dubai

Hugely instrumental in the bid to host Expo 2020, Her Excellency Reem Al Hashimy, has been tasked with bringing 25 million tourists into Dubai in 2021.

Over the last year, together with her Expo team, Al Hashimy has looked at ways to redefine what an international event will look like post-pandemic.

 

 

 

 

•    Khalid Al Malik, CEO, Dubai Properties & MD of Dubai Holding

Khalid Al Malik is the CEO of Dubai Properties and Managing Director of Dubai Holding, where he leads the real estate portfolio including urban planning and infrastructure strategy and development, as well as overseeing the land bank – one of the Emirate’s largest. Responsible for the company’s international real estate investments, Al Malik is at the forefront of managing the company’s strategic relations with local and international investors, and its government affairs.

 

 

 

 

•    Nadhmi Al-Nasr, CEO, NEOM

Tasked to head up Saudi Arabia’s ambitious, sustainable mega-city NEOM, Nadhmi al-Nasr has worked on developing the strategy and development behind NEOM Bay as well as the strategic development and business plans for NEOM’s core economic sectors.

NEOM is the flagship project of Saudi Arabia's post-oil diversification plan, Saudi Vision 2030, which seeks to reduce the country's reliance on hydrocarbons. The bulk of construction will take place over the next decade, with a target of hosting one million residents by 2030.

Expected to take up an area the size of Belgium on Saudi Arabia’s Red Sea coastline and expected to be powered entirely by renewable energy, NEOM will have nine key investment sectors: energy and water, mobility, biotech, food, technological and digital sciences, advanced manufacturing, media, and entertainment.

Earlier this year, NEOM announced the launch of The Line, a 170 km mega-city that will house a million residents in carbon-positive urban developments powered by 100% clean energy.

•    HE Omar Sultan Al Olama, Minister of State for Artificial Intelligence

Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, His Excellency Omar bin Sultan Al Olama and his department is shaping the UAE’s AI agenda.

An avid proponent for technology, Al Olama has contributed to the preparation of the UAE Centennial 2071 strategy and the UAE 4th Industrial Revolution Strategy.

 

 

 

 

•    Yousef Bin Abdullah Al Shelash, Chairman, Dar Al Arkan

A major partner in realising the goals of Saudi Vision 2030, Dar Al Arkan Chairman, Yousef Bin Abdullah Al Shelash, is determined to continue growing the Kingdom’s GDP and real estate market.

Since its initiation, Al Shelash has overseen 23 successful years at Dar Al Arkan, delivering and implementing over 30 residential and commercial projects, a milestone achievement for both, the company and the nation.

 

 

 

•    Mohammed Ibrahim Al-Shaibani, Chairman, Nakheel 

In 2020, Mohammed Ibrahim Al-Shaibani took over as the Chairman of Nakheel. Director General of H.H. The Dubai Ruler’s Court, and Managing Director of the Investment Corporation of Dubai, the principal investment arm of the government of Dubai, Al-Shaibani is also the Vice Chairman of the Supreme Fiscal Committee of Dubai which oversees the Emirate’s fiscal policies.

 

 

 

 

•    Emad Azmy, President and Vice Chairman, ASGC Group 

President iand Vce Chairman of the board and Executive Director, ASGC Group, Emad Azmy spent 12 years at the Arab Contractors in Egypt where he began his professional career, Azmy decided to move to Dubai where he established ASGC in 1989. Today, the company is one of the leading construction companies in the UAE.

 

 

 

 

•    Dr Aisha Bint Butti Bin Bishr, Director General, Smart Dubai

Dr. Aisha Bint Buti Bin Bishr is Director General of the Smart Dubai Office, and is responsible for Dubai’s city-wide smart transformation.

Leading the creation of ‘The Smart City Index’ - the first-ever benchmark for smart city implementation across the globe in cooperation with ITU and the United Nations, Bin Bishr is an acclaimed digital transformation and smart cities thought leader globally, representing Smart Dubai in City Protocol Society and Smart City Expo World Congress.

 

 

 

•    HE Sultan Butti Bin Mejren, Director General, Dubai Land Department

HE Sultan Butti bin Mejren has been Director General of the Dubai Land Department since 2006.

Under his directorship, DLD has issued various property laws that have instilled, not only transparency, but also confidence in Dubai’s real estate market.

From the establishment of the Real Estate Regulatory Authority, the department’s regulatory arm to the Real Estate Investment Management and Promotion Centre, Bin Mejren has been central in shaping Dubai’s property market.

 

 

•    Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World & Virgin Hyperloop One

Sultan Ahmed Bin Sulayem has been instrumental in the rapid expansion of Dubai’s infrastructure, and ports and free zones.

From leading DP’s expansion internationally, to taking over as the Chairman of the Virgin Hyperloop One, Bin Sulayem has been key in supporting Dubai’s success story.

 

 

 

 

•    Alain Bejjani, CEO, Majid Al Futtaim

Alain Bejjani joined Majid Al Futtaim in 2006 and for more than a decade has been responsible for driving significant transformation of the organisation. His career in the group culminated with his appointment to the CEO position in February 2015.

He was also the main ‘architect’ behind Majid Al Futtaim’s corporate rebranding. Bejjani serves on the Board of Directors for several of Majid Al Futtaim’s joint ventures.

 

 

 

•    Osama Bishai, CEO, Orascom Construction 

Starting his career at Orascom Construction in 1998 as managing director, Osama Bishai has played a key role in developing the Egyptian construction business and has led developments in the industry in Egypt, Algeria, and USA. As the current CEO and Executive Director, Bishai heads the company’s efforts to create a long-term concessions portfolio and is leading the growth of the US business.

 

 

 

 

•    John Pagano, CEO, The Red Sea Development Company

With 35 years of international experience from all facets of the commercial property industry from Europe, North America and the Caribbean, John Pagano is leading the creation of a unique luxury international tourism destination as the CEO at The Red Sea Development.

At the centre of Saudi Arabia’s Vision 2030, Pagano has ensured that The Red Sea Project is underpinned by sustainability, offering a sustainable yet luxurious tourism experience.

 

 

 

•    Hussain Sajwani, Founder and Chairman, DAMAC

Founder and Chairman of global property development company, DAMAC Properties, Hussain Sajwani is one of the pioneers of the property market expansion in Dubai, having established the company in 2002, which has grown to become one of the largest property companies in the MENA region.

Today, the company has several projects in key global cities including: Dubai, Abu Dhabi, Doha, Amman, Beirut, Jeddah, Riyadh and London.

 

 

 

*This list is in no particular order and has been put together based on nominations and data collected by Cityscape Intelligence

Chris Speller, Group Director of Cityscape, Informa Markets, said: “This first-ever Cityscape Intelligence Real Estate Power List puts the spotlight on influential industry figures who have either shaped the Middle East market these past 12 months, or shown exceptional resolve to rise above the formidable challenges of a disruptive year, in every sense. The response has been overwhelming and is a real testament to our industry’s positive attitude throughout a year of uncertainty.”

 

Dubai is no stranger to winning international accolades, and now it has another under its belt - with the city taking the number one spot for the most high rise builds in 2020.

According to the Council on Tall Buildings and Urban Habitat’s 2020 Year in Review report, Dubai beat out stiff competition - particularly from China - to top the list. The emirate completed 12 buildings in 2020, each taller than 200 metres (the minimum required height to feature in the list).

The 12 new structures meant that the city broke Shenzhen’s winning streak. The Chinese city had previously topped the list for the past four years, from 2016-2019. It’s the first time Dubai has taken the number one spot, since 2010 - which was a colossal year for the city as it also saw the completion of the current tallest building in the world, the Burj Khalifa in the Downtown Dubai district.

Out of those completed in Dubai last year, the tallest was the SLS Tower in Business Bay. At 336 metres high, it meant that the building is now the 11th tallest building in the world. Many of the high rise complexes completed in 2020 were due to five-year development plans, off the back of strong investment in the emirate’s property market in 2015.

Interestingly, the upward turn in the number of high rise complexes completed in the emirate in 2020, contradicts global trends, which saw a decrease in the number of skyscrapers built globally last year, with 133 in 2019, down to 106 in 2020. The city’s close competitor, Shenzhen, also saw a 50 per cent decline in completions, from 18 in 2019 to just nine in 2020. However, China still dominated the list, constructing over half of the buildings in the report - a total of 56. In terms of country-wide builds, the UAE came second, followed by the US and UK, with India taking the fifth spot.

Entering the list of top ten cities for the first time was London, which took eighth place, with four new builds, three of which were in the city’s finance hub Canary Wharf. The tallest building on the list was the brand new Central Park Tower, in New York City, at 472 metres. The achievement also meant that it was the first time since 2014 that the tallest building on the list was outside of China.

The Abu Dhabi Investment Authority (Adia) has said that its strategy for 2021 and beyond will focus on key areas such as sustainability and technology to expand its portfolio which includes equities, fixed income, real estate and private equity.

“Like all investors, we are convinced that sustainability is extremely important, which is becoming even more important in the future,” the director of strategy and planning at Aida, Jean-Paul Villain recently said.

The UAE’s Abu Dhabi Investment Authority is the third biggest sovereign fund in the world (following Norway and China), and invests in key industries, in the MENA region as well as internationally. In an indication of things to come, Aida recently invested in two sustainable companies that are based in India and has favoured real estate options with strong environmental policies.

Aida is also a member of the One Planet Sovereign Wealth Funds initiative, a collective of international sovereign funds that prioritise climate change when making investment decisions as well as supporting action to avert a climate crisis.

_{Photo Credit: www.architizer.com}

Following a year which has seen the decline in property prices across the UAE, the end to the trend now seems to be in sight - that’s the message from Amira Sajwani, the senior vice president at Damac Properties. According to the property expert, the UAE’s property market should recover within two years. Sajwani said that a recovery to pre-crisis levels will potentially take between “12 to 24 months”.

In the short term however, the market expert suggested that property prices were likely to continue to decline this year.  “Property prices have dropped, and we are expecting further declines...into 2021,” she said.

Two other factors which she also anticipates will continue to have an impact on the property market are the on going Covid-19 pandemic, and an increase in the number of overseas workers leaving the country. Indeed, December, the chairman of Damac Properties, Hussein Sajwani, also warned against companies “dumping” property, in a market which already has a surplus. Something which has in part driven the decline of property prices in Dubai alone, by over 30 per cent since 2014.

Kitchens of the future are set for an upgrade in the robotics department. Revealed at this year’s Consumer Electronics Show, the world’s first ‘robotic kitchen’ will be able to prepare consumer’s favourite meals and serve them up piping hot. Once done, it will even order fresh ingredients for new meals, and wash the dishes afterward.

The technology comes from UK-based innovative robotics company, Moley Robotics, and has been developed over the last six years. The system is managed through a touchscreen interface in the kitchen, where users can scroll through recipes, ingredients and explore new dishes and dietary restrictions.

Industry experts have heralded as a new generation in food preparation. Users can pick their favourite dish, and be able to track the timeline of their food prep in real time – and even see the list of steps that the robot chef will need to take to finish the dish.

The product works via sensors and cameras that are built-in around the kitchen, and help the robot find ingredients, cookware and utensils. And for those who don’t want to outsource the cooking just yet, the robot can be used simply to clean-up, both before and after cooking.

Each robotic kitchen is fully customizable, but there are a few prerequisites; you’ll need the basics that most households have including water, electricity and an internet connection, but the robot can handle pretty much everything else. It can operate an induction stove top and oven, and it can even control the temperature and amount of water via an electronic tap.

Anyone looking to make their kitchen ‘smart’ with a robotic helper will be able to make custom design choices, including outfitting it with premium marble, onyx and Corian countertops, along with multiple design options for the cabinets too.

And price of having your very own robot chef? According to Moley Robotics CEO the smart kitchen will cost around US$250,000. However, while it’s intelligent enough to cook and clean as of right now, it will continue to learn new skills down the line.

Moley Robotics says it has received a lot of interest, and it should start to upgrade its initial robotic kitchen software and products towards the end of this year.  

_{Photo Credit: www.restaurantware.com}

THE AUSTRALIAN UNDERWATER DISCOVERY CENTRE

The centre, which will be built two kilometres out at sea beside Busselton Jetty in Western Australia, will be positioned partially underwater and feature a large window overlooking the ocean floor.

It has been developed by Baca Architects to replace an existing observatory off of the jetty that is currently struggling to meet visitor demand. The goal is for it to become the world's largest centre of its kind, open for both the public and scientists to observe the marine habitats of Geographe Bay.

"The current underwater visitor experience at the end of the two-kilometre-long pier has been greatly successful but has reached its capacity," explained the studio's director, Richard Coutts.

"The operator sought to have a new cultural building that would be able to cope with higher visitor numbers and provide a larger underwater viewing window, quite literally, on the ocean floor," he told Dezeen.

"The brief set out the client's spatial needs and a requirement to deliver something iconic which will draw tourists in," added Coutts. "The goal is to promote the education, awareness and monitoring of the jetty's immediate marine environment and the wider environs of Geographe Bay."

The AUDC will be largely built from concrete, complete with a light-frame roof that will be constructed by yacht builders. Concrete was chosen for its durability and ability to withstand harsh conditions, such as in marine environments.

It is also hoped the concrete will help stabilise internal temperatures through thermal mass, with the help of a water heat exchange system for heating and cooling.

Across the front of the building, Baca Architects will use a porous, bioreceptive variation of the material to encourage the growth of barnacles and algae.

THE BUILDING WILL BE PARTIALLY SUBMERGED IN WATER

Inside, the AUDC has been designed as a sequence of spaces, which will invite visitors to explore a series of art galleries and exhibition areas above sea level before descending to the ocean floor-level observatory.

Several structural glass windows will be incorporated to provide views out both above and below the sea, including one that extends the full height of the building. From the outside, this window will be intended to evoke "the cetacean's eye".

The AUDC will be complete with a restaurant below sea level, and sculptures and artwork positioned out on the ocean floor.

It is slated for completion in 2022. The structure will be precast in a nearby boatyard, before being towed out and submerged in location.

A similar approach was used to build Europe's first underwater restaurant by Snøhetta in Båly, Norway, which was constructed on a barge 20 metres from its final site before being towed out to its final location.

Baca Architects is a London architecture studio founded by Coutts in 2003. While the AUDC marks its foray into underwater architecture, the firm is familiar with building on the water and creating flood-resilient structures.

Pictures & article credit: https://www.dezeen.com/2021/01/21/australian-underwater-discovery-centre-baca-architects/ 

 

Abu Dhabi Executive Council has approved a capital projects framework between Abu Dhabi Government and Aldar Properties, which includes management of AED30 billion worth of major projects, including Riyadh City, Baniyas North, and developments in the Al Ain and Al Dhafra regions.

In addition, Aldar will provide management oversight of AED 10 billion worth of Musanada’s projects in education, healthcare, infrastructure, social services, and facilities management.

The decision follows the recommendation of the Abu Dhabi Executive Committee to establish a public-private partnership plan for the development of capital projects in the emirate.

Together the projects will deliver approximately 25,000 homes for UAE Nationals as well as associated infrastructure over the next five years.

_{Photo Credit: Aldar Properties}

The Egyptian Ministry of Transport has signed a memorandum of understanding with Siemens on Thursday for construction of a USD 23 billion high-speed train line linking Egypt’s eastern and northern coasts.

The electric rail line would run from Ain Sokhna on the Red Sea to New Alamein on the Mediterranean coast, passing through a new capital under construction in the desert east of Cairo. The MoU includes local companies Orascom Construction S.A.E. and The Arab Contractors.

Dana Salbak, Head of Research at JLL MENA provided an overview of critical themes such as sustainability and tech adoption which have been accelerated during the pandemic and are likely to drive the real estate industry forward in the advisory’s webinar on MENA real estate trends.

Salbak commented: “The year 2020 and the pandemic have reminded us of the fragility of our society and ecosystem, and have increased the focus on tech adoption, as well as, sustainability and Environmental, Social, and Corporate Governance (ESG). To ensure business success, these elements must be at the heart of operating strategies and customer experience. Going forward, these themes will define the shape of the real estate recovery and of real estate investment over the coming years in the Middle East and beyond.”

JLL’s 2021 outlook for each of the sectors across Middle East’s property market include:

OFFICES

In 2021, office adaptations are likely to mitigate some of the reduction in demand arising from higher levels of homeworking. In the short-term design will be all about “making do with what you have” for most corporates as cash preservation remains a top priority. However, in the long-term office adaptions are likely to drive demand for space.

“Relaxing seating densities, and collaborative spaces are likely to be a more permanent feature in a post-COVID office environment. This will mean more meeting rooms, more video/VR space, and more space dedicated to green space as well as health and wellbeing. Office design will need to factor this in and support the strategy around an all-round best-in-class employee experience,” said Salbak.

RETAIL

With the rise of the online channel, dynamics have changed and there is growing demand for more flexible leases from retailers. It also allows for quicker adaptation and sees innovative operators enter the market.

“Flexible leases can be offered in various ways, ranging from a traditional lease with more break clauses to fully fitted-out space, ready to be used by an entrepreneur, with one months’ notice or space. These formats are increasingly important for retailer and investor real estate strategies in a progressively dynamic environment,” commented Salbak.

HOTELS

According to JLL, the trend of co-working will reboot hotels as a one-stop shop. Large corporate occupiers will increase demand for co-working space around densely populated areas, and mobile workers will utilize touch-down points in hotels, particularly in Saudi Arabia and Egypt where long commutes are the norm.  

“Hotels have been exploring co-working spaces as an alternative to their meeting and event space, and the focus has increased and it is expected to stay in 2021. This can help hotels significantly strengthen their branding and boost income,” concluded Salbak.

As part of the new partnership, both operators will, through the Taawun infrastructure deployment initiative, cover Emaar’s major projects, providing essential telecommunications infrastructure. The partnership supports the government’s long-term vision in developing smart infrastructure and establishing a robust telecom sector for master developers.

Under the agreement, du and Etisalat will install, maintain, and oversee state-of-the-art fixed telecom services and solutions across various sites, including Al Aryam Phase II, Lagoons Phase 1, Dubai Creek Harbour, The Valley by Emaar, Emaar Dubai South, Mina Rashid Properties, Dubai Hills Estates and Arabian Ranches Phase 3.

Saeed Al Zarouni, Senior Vice President, Mobile Network, Etisalat, said, “Our collaboration with Emaar will drive an array of opportunities for both parties in the years ahead. At Etisalat, we are committed to the total digital transformation of consumer and business customer experiences in line with our overall strategy and vision of ‘Driving the Digital Future to Empower Societies’.”

The partnership is aligned with UAE Vision 2021 and smart city development in Dubai, which has helped the country to become one of the world's most connected and sustainable nations.

_{Photo Credit: properties.emaar.com}