In conversation with Atif Rahman, Founder & Chairman, ORO24 Real Estate Developments
I firmly believe that the landscape of Dubai real estate and the regulatory framework of the city either inspires or compels every developer to excel. There is absolutely no doubt that the underlying reason for success of every real estate firm is our city, Dubai, and the attractive value it offers to every resident and visitor. Beyond this, every organisation has its own niche that it caters to and so does ORO24. The industry today is driven by intense competition which is extremely good for the consumer. The probability of success is directly proportional to innovation and value, one can offer to customers. We take this seriously and hence we exert intense efforts on every project, staying committed to our customers. At ORO24, we believe in creatively exploiting every piece of land we touch, to deliver excellent asset coupled with lifestyle and value proposition. We are constantly engaging in research and development to create something new and innovative, not just in our product but also the service offered by the company. To make this possible, we are upgrading our knowledge bank and infrastructure regularly so that every project wears the latest and most updated features.
We started the journey with TORINO By ORO24, which is a gated complex of six buildings offering 626 apartments. We introduced innovative storage solutions to unique modular design expanding the living spaces for the consumers. The community also featured green living with lifestyle amenities. Followed by that, we launched LEVANTO By ORO24, which comprises of 579 units with a mix of apartments, duplexes and retail facilities. This project brought some first-of-its-kind amenities like drive-in entrance, bowling, golf simulators, business centres, library, gaming zones, roof top cinema, separate kids’ cinema and pool. Progressing further, we launched ELANO By ORO24, which offers the most unique urban living with 10,500 sq. ft of health club and gaming facility with rain showers, a cinema by the pool and much more. We are now introducing our next marvel, which is an icon of architecture with the most unique facilities spread across over 700 units. In all our projects, what you see is consistent urban space and a luxury lifestyle for our customers.
The real estate industry is driven by a belief system and credit goes to the government for progressing the country from an emerging to a developed economy. The trade liberalisation, immigration reforms, economic development, crisis management, infrastructure expansion and visionary leadership has helped the country jump every global index of growth and development. The country is blessed with a geographical advantage and powered by political leadership. Leading from the front are the offices of the President and the Prime Minister, followed by every government entity of the nation. In my opinion, the UAE is a unique country where the government is ahead of the private sector, while in most of the other developed countries, it is the opposite. Inspired by the UAE leadership, the entire region is taking some big steps towards a progressive economy and greater stability. At the same time, the global economy is under a lot of stress with ever reducing opportunities. All of this will continue to drive increased attention and investment to the UAE, tapping not only local opportunities but also prospect regional gains. I expect the growth to spread across the bandwidth of real estate sector including commercial and industrial. The healthcare, education and production industries are also expected to see some unique opportunities. To summarise, the outlook is stunning and the forecast is shining bright.
Unprecedented and incomparable, and let me explain why. It’s an expansive industry and the most important role is played by the government. The government has created and continues to strengthen the regulatory framework, delivering unparalleled investment security which further attracts consumer confidence driving increased investment in the sector. The Dubai Government has historically invested heavily in infrastructure, making it the finest in the world, and it’s now taking this to the next level. The city has some of the world’s renowned attractions and is constantly adding new ones. The lifestyle and safety of the city are global benchmarks for most cities. So, from investor protection to infrastructure, a real estate catalyst and many such reasons make Dubai a unique and super attractive ecosystem for the Real Estate industry. Now let me explain from a businessman’s perspective. Above all of the aforementioned reasons, is the ease of doing business, which makes life easy and simple for any real estate business in Dubai. The rule book is defined in detail for the industry and it’s fairly positioned for all the stakeholders. Secondly, the speed of approvals is faster than anywhere else and it is a big plus for any business. The industry has also been closely governed, keeping it free from all forms of corruption. So, it is as smooth as swimming in clean and tranquil water at beautiful temperature at all times. Because of these reasons, if businesses focus on governance, risk management policies and innovation, success is inevitable. For me, Dubai through its immaculate government initiatives simplifies an otherwise complex industry.
Rapidly developing cities come with their own set of real estate challenges like population outburst stressing the infrastructure, cost inflation etc. We carefully study and select the location to ensure ease of commute and availability of all necessary infrastructure. Once the land is identified, we do our best to create innovative design. While trying to achieve many objectives on the drawing board, we must remain conscious of two things, the growing need of consumers due to ever evolving lifestyle and the need to deliver more space in less square feet. Hence, a careful study of demography to identify the target audience and attending their need through design excellence is the key to create the appropriate real estate solution. As a responsible developer, we also try to combine the right mix of sustainability, technology and durability in the project. We live in a different world today, where it’s not just about the product and quality; it’s equally important to match them with the latest lifestyle the consumer wants. In order for real estate to be successful and viable, it must deliver value and commercial advantage to the consumer. To summarise, I see increased demand and momentum for innovative real estate that is commercially attractive, delivers value to the consumer along with sustainability offering a great lifestyle.
First of all, I must thank the Almighty for giving us the guidance and means to be able to participate in such a cause. Social impact through the business platform is an important part of my vision, which I gained living in Dubai. God willing we shall surely continue to participate in such initiatives. ORO24 is built on Islamic values, which include benefit to society and the betterment of mankind through action. We want to showcase our ability to create something unique at the Mosque projects too. This intention inspired us to create a modern architecture for the Mosque. It is also inspired from thoughts of minimalism and sustainability, which are essential rules for building any mosque.
I want to transform ORO24 into a forward thinking, forward looking and forward integrated real estate corporation. The diversity is key to survival and hence we have carefully crafted the divisions and verticals that operate within the organisation. At the centre of every venture and vertical remains our innovation, social impact and sustainability. This attracts a different quality of B2B and B2C traffic towards our business with immense brand loyalty. We are currently planning our facilities management business and we are also poised to enter into another vertical which remains undercover. I truly believe that the UAE has taught me many great lessons in business and real estate, which we want to showcase to the world. We are carefully studying the expansion of our property development business to new horizons.
Leadership for me is about people, a people-sensitive approach that delivers a people-centric ecosystem. I believe in the philosophy that ultimately, it’s the people’s growth that creates business growth, so we remain focussed on creating success stories within our business, which helps change people’s lives. Growth is not just limited to financial gains but a comprehensive 360 degree growth of human personality. Successful leaders focus on achieving a measurable quantitative and qualitative development of every individual. In order to achieve this, a leader must be driven with clean intention, sustainable vision and courage to encounter failures. This helps create ventures that deliver impeccable product, service excellence and long lasting relationship. I take this as my responsibility at ORO24 to transform every member of the company into a change catalyst who will continue to create memorable business and social impact.
My father taught me time is irreversible, health is critical and knowledge is invaluable. I was fortunate to grow up in an environment that taught me the importance of education, so much so that I truly feel everyday how less I know and how much more I need to learn. At ORO24 we engage in several and regular programmes for learning, development and awareness, which I feel uniquely empowers the people of our company. These initiatives include not only sharpening core competency but also increasing awareness about social, environment, health and safety aspects. We have engaged in several programmes like breast cancer, blood donation camps, eye check-up camps, and ergonomics sessions to sustainability. We have our own staff nurse and a clinic under La Salute, which maintains a regular check up and record for all the staff. We conduct fortnightly town halls through which we educate all our staff on various topics. We have invested in top-end technology, which cuts down human errors and efforts. We have staff from 24 nationalities, and we encourage people to learn new cultures. In my opinion, an enriched workforce leads to an empowered organisation. These initiatives create an increased level of ownership in every member of the company, which transforms into a powerful loyalty towards the company and responsibility towards deliverables.