Atif Rahman, Founder and Chairman of ORO24, delves into his journey within the Dubai real estate industry, driven by a steadfast commitment to quality and innovation
Amidst the dynamic landscape of Dubai’s real estate industry, Atif Rahman, the Founder and Chairman of ORO24 Real Estate Development, stands as a testament to what sheer determination and a commitment to excellence can achieve. In a candid interview with ORO24’s visionary leader, we delve into his remarkable journey from a small-town upbringing to the helm of a thriving real estate empire. “My life has revolved around being with the best people at the best place at the best time doing the best thing,” says Rahman, reflecting on his humble beginnings in Bihar, India. He firmly believes that his upbringing in a small town with limited distractions instilled an unwavering desire to make it big. He says that it was his grandfather and father who taught him the values and virtues that guide him today. “I come from a family of extremely qualified engineers, who lived their lives finding solutions. This helps me solve complex matters with ease.”
Rahman’s life took a transformative turn when he arrived in Dubai nearly two decades ago, just as the city was beginning to flourish. “I don’t think I would have achieved even half of what I have today if I was not part of this great city,” he acknowledges. Dubai’s unwavering support and unparalleled opportunities have played a pivotal role in his success. The inception of ORO24, followed a period of adversity brought about by unexpected challenges during the pandemic. He believes that his ability to convert adversity into opportunity propelled him to launch ORO24, a venture dedicated to redefining the real estate landscape in Dubai. “I am on a mission to create the most prolific real estate corporation under my latest venture.” The company has launched four residential projects to date, TORINO, LEVANTO, ELANO, and KYOTO, among other developments, including the firm’s headquarters.
Rahman’s approach to business is firmly centred on people and value creation. “My knowledge, experience, vision, drive, and ability are net-zero if I do not have my team to execute the plans,” he emphasises. Recognising that employees spend a significant portion of their lives at the workplace, he prioritised the creation of a headquarters that reflects his commitment to their well-being. “Our next goal, which remains ongoing, has been to build a strong team of like-minded people,” explains Rahman. Building such a team is no easy task, requiring immense effort to align thoughts and passion equally. “It must go through a constant churning process while we continue to groom the right people to do the right job in the best way possible. “Our projects are true reflections of our values and our real report card,” he notes with pride. ORO24 endeavours to make its projects sensitive to human needs while also forging strong relationships with strategic partners and customers. “ORO24 is a business built by people, for the people. I aspire to build it as a community where people prosper. “I think before everything else you have to be genuine, consistent, and selfless,” Rahman advises fellow entrepreneurs aspiring to build people-centric brands. “It’s a value system and requires a tremendous amount of discipline, which cannot happen overnight and comes with its own set of challenges, so you got to be ready for that.” Rahman’s remarks that his past experiences have profoundly influenced his approach to ORO24. “While remaining open to learning daily, I collectively apply my experience and knowledge in building the organisation.” He emphasises the importance of learning from others’ mistakes, considering “what not to do” as important as “what to do.” He also stresses the importance of continual evolution and innovation in a rapidly changing world. “I believe every human must learn from the past and keep reinventing; that’s what I try to apply in my daily routine.” The developer’s inaugural project, TORINO by ORO24, was a resounding success, setting the stage for further achievements. “Since then, we have launched several projects, and our portfolio is almost 2,500 units spread across six projects.” He insists that his meticulous approach to project development involves over 40 revisions on average, ensuring each project aligns with the company’s passion for innovation and excellence. As the UAE continues its remarkable growth, Rahman sees the real estate sector playing a pivotal role in the country’s development. He believes that the implementation of corporate tax will attract more investment and boost the nation’s economic development. “The UAE is the go-to place for capital movement,” he says.
While the real estate sector flourishes, Rahman acknowledges the industry’s inherent risks. “Wrong land acquisition, improper planning, forecasting, cost control, delivery management, and uncontrolled leveraging can all lead to failure.” It is crucial to study market appetite before launching any project in an off-plan market. Governance, discipline, and securitisation are essential for resilience, he asserts. Continuing, Rahman points out that technology and digitalisation play a vital role in ORO24’s operations. Artificial intelligence is integrated into the company’s infrastructure to enhance efficiency and innovation, he adds. Furthermore, ORO24’s facilities management platform, currently in development, aims to provide comprehensive services with a focus on excellence and customer satisfaction. In a diversification move, Rahman reveals that ORO24 has ventured into the hospitality industry with Café ORO, an in-house food platform. Looking to the future, his plans for ORO24 are focused on project delivery, efficiency, and creating a solid foundation for expansion and growth. “It’s important for me to lead from the front and lead by example. Life has taught me the importance of doing business led by ethics, value systems and core competency; I totally believe in creating this in the eco-system at ORO24. We are builders of real estate where a human life breathes and thrives. People choose to invest their hard-earned money with us. I am committed to building an organisation that will deliver excellence through real estate without putting people or their investment at risk,” Rahman concludes.