August 2023 arabianbusiness.com An ITP Media Group Publication TOP 10 ARCHITECTS IN THE MIDDLE EAST Arabian Business counts down the movers and shakers who help rede ne the region’s landscapearabianbusiness.com 3 Contents August 2023 www.arabianbusiness.comSUBSCRIBE NOW +971 4444 3000 www.itp.com/subscriptionarabianbusiness#arabianbusinessarabianbusiness 22 FIRST WORD We thank you for the hard work that you are contributing to one of the Middle East’s most rapidly developing industries Matthew Amlot Editor-in-Chief matthew.amlot@itp.com e dly SPECI A L ISSUE Building a modern landscape In this special edition of Arabian Business, we present some of the leading gures who are making a difference in the design and architecture scene in the region and beyond 23 31 2426 32 Norman Foster TOP 10 ARCHITECTS IN THE MIDDLE EAST Muhammad Al Salmy Brian JohnsonShaun Killa Paul Bishop4 AB Top 10 Architects Supplement, August 2023 THE BIG PROJEC T arabianbusiness.com 5 DUBAI REAL ESTATE Kuwait International Airport project Kuwait International Airport is planned to signi cantly increase capacity and establish a new regional air hub in the Gulf _ these strategic aims will be matched by a state-of-the-art terminal building, which will provide the highest levels of comfort for passengers and will set a new environmental benchmark for airport buildings. Its design is rooted in a sense of place, responsive to the climate of one of the hottest inhabited environments on earth and inspired by local forms and materials. The terminal has a trefoil plan, comprising three symmetrical wings of departure gates. Each façade spans 1.2 kilometres and all extend from a dramatic 25-metre-high central space. The terminal balances the enclosure of this vast area with a design that is highly legible at a human scale - for simplicity and ease of use there are few level changes. To further aid orientation, the building is planned under a single roof canopy, punctuated by glazed openings that lter daylight, while de ecting direct solar radiation.(Courtesy of Foster + Partners)6 AB Top 10 Architects Supplement, August 2023 FIRST WORD | Matthew Amlot, Editor-in-Chief Hello and welcome to the August issue of Arabian Business. Last month saw the Arabian Business Leadership Summit return to Dubai, and, in keeping with the theme of leadership, we have featured on the cover the former Prime Minister of the United Kingdom and Northern Ireland, David Cameron. The former British premier shared his profound insights with us on leadership, emphasising the signi cance of teamwork in achieving success. Cameron, a true legend in the political arena, o ers inval- uable insights into leadership. Through his experiences, he emphasises the pivotal role of teamwork in achieving ambi- tious goals. Success is seldom a solo endeavour; it is a result of cohesive collaboration, where diverse talents and perspec- Learning from legends MATTHEW AMLÔT @MatthewAmlot tives converge to navigate challenges e ectively. As we look at the business landscape, we witness how leaders are increasingly embracing this notion, fostering an inclusive work culture that encourages innovation and growth. The symbiotic relationship between business and polit- ical leaders has become more evident in recent times. Both spheres face challenges that require astute leadership, adapt- ability, and empathy. Business leaders are expected to take a stand on societal and environmental issues, while political leaders have to navigate complex economic landscapes. Cameron notes that this convergence of leadership styles is yielding positive outcomes, as leaders from various domains learn from each other’s experiences and best practices. Amid this conversation, Cameron also commented on the remarkable journey of the UAE as a global leader. The nation has demonstrated visionary leadership, transforming itself into a beacon of progress and prosperity. Through bold initiatives and innovative strategies, the UAE has paved the way for sustainable growth and diversified its economy, making signi cant contributions to the global community. As a result, the country continues to inspire others with its achievements and dedication to excellence. The full interview is well worth a read and I encourage you to check it out start- ing on page 28. The Leadership Summit also proved to be a remarkable event, attracting an A-list lineup of speakers including Huda AlHashimi, UAE Deputy Minister of Cabinet A airs for Strate- gic A airs, Jerry Inzerillo, GCEO of Diriyah Gate, and James Hogan, former CEO of Etihad and current CEO of Knighthood Global. Their collective wisdom on leadership has inspired us to examine the principles that underpin successful leadership. In our extensive section on leadership starting from page 36, we meticulously unpack key learnings from the summit. We hope that the wisdom shared by the event’s speakers will help inspire all of our readers in their own leadership journey. I would also like to personally thank all who attended the Leadership Summit and contributed to its resounding success. We are grateful for the continuous support from our readers, and we remain committed to providing insightful content that informs, educates, and inspires. This month also marks the return of the annual Arabian Business Healthcare Visionaries list. Given the remarkable success of the last year’s edition, and the high quality and volume of nominations for this year’s, we have decided to separate it from the main edition into its own supplement. Congratulations to all those listed and thank you for the hard work that you are contributing to one of the Middle East’s most exciting and rapidly developing industries. With that I’ll let you get to reading. Until next time. 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O -Plan Manager at Dubai-based real estate agency Betterhomes, Kulwant Khurana, told Arabian Busi- ness that now is a “great time to invest in o -plan properties,” but they must weigh the risks. “Dubai’s population growth serves as a crucial catalyst driving the demand for residential properties. The UAE government has implemented various initiatives to foster population growth Many, in the past, have shied away from purchasing o -plan properties due to concerns about project cancel- lations, incomplete developments, and challenges in obtaining refunds. The current global landscape, marked by high-interest rates and rising mortgage rates, has played a role in making buying o -plan a more lucrative investment opportunity. This landscape has a ected the viability of purchasing ready properties, Khurana said. And despite increased rent yields, the costs associated with servicing a mortgage have increased, resulting in diminished net yields after factoring in all expenses, making the economics of investing in ready properties for returns less favourable. in Dubai, attracting a steady in ux of individuals,” he said. Properties managed by Better- homes are currently experiencing record-high occupancy rates in the emirate, reaching 95 percent for free- hold properties and 97 percent for leasehold properties, indicating sustained demand for rentals. $77BN The value of real estate transactions in Dubai in the rst six month of the year, according to data from the Land DepartmentNext >