APRIL 2023 # 191 CEO MIDDLE EAST APRIL 2023 ISSUE #191 UAE AED 20 KSA SAR 20 BAHRAIN BHD 2 KUWAIT KWD 2 OMAN OMR 2 BUILDING TOMORROW Abbas Sajwani, founder of AHS Properties, reveals the mindset behind Dubai’s latest real estate success storyAPRIL 2023 CEO MIDDLE EAST 4 APRIL 2023 # 191 APRIL 2023 # 191 UAE AED 20 KSA SAR 20 BAHRAIN BHD 2 KUWAIT KWD 2 OMAN OMR 2 BUILDING TOMORROW Abbas Sajwani, founder of AHS Properties, reveals the mindset behind Dubai’s latest real estate success story 06 EDITOR’S LETTER 08 COMMENT The role of leaders in the workplace is only set to increase, believes Murtaza Hashwani, Deputy Chairman of Hashoo Group 1O ECONOMY It’s time to transform earnings calls into a valuable experience for analysts and investors, says Oliver Schutzmann, CEO of Iridium Advisors 14 INVESTMENT Amr Masry, director of sales at Amana, shares tips on diversifying investment portfolios to mitigate risks and maximising returns 16 INVESTMENT Is real estate in the metaverse a real investment? Samuel Huber, CEO of LandVault answers 20 COVER STORY Abbas Sajwani, founder of AHS Properties, reveals the mindset behind one of Dubai’s newest, and most successful, real estate firms 26 STARTUPS Entrepreneurs and startups will unlock the UAE’s potential, writes Lorenzo Jooris, CEO of Creative Zone 20 0814 26APRIL 2023CEO MIDDLE EAST 5 To receive your copy delivered directly to your door, subscribe online at www.itp.com/subscriptions The most important business people and CEOs talk to the most important magazine The publishers regret that they cannot accept liability for error or omissions contained in this publication, however caused. The opinions and views contained in this publication are not necessarily those of the publishers. Readers are advised to seek specialist advice before acting on information contained in this publication which is provided for general use and may not be appropriate for the reader’s particular circumstances. The ownership of trademarks is acknowledged. 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ITP MEDIA GROUP CEO ALI AKAWI CFO TOBY JAY SPENCER-DAVIES MANAGING DIRECTOR ALEX REEVE DEPUTY MANAGING DIRECTOR ANIL BHOYRUL EDITORIAL MANAGING EDITOR MATTHEW AMLÔT matthew.amlot@itp.com SUB EDITOR EDWARD LIAMZON SENIOR DESIGN MANAGER GERI BATARA SONNY DESIGNER MOHAMMED IRQSOSY EVENTS & MARKETING DIRECTOR OF AWARDS & MARKETING DANIELFEWTRELL +971 4 444 3684 Daniel Fewtrell@itp.com ADVERTISING GROUP COMMERICAL DIRECTOR SARASWATI AGARWAL +971 4 444 3352 saraswati.agarwal@itp.com SENIOR COMMERCIAL MANAGERR NEHA SIKRI + 971 4 444 3353533 neha.sikri@iittp.c.comm PO BOX 500024, DUBAI, UAE +971 4 4 44 3000 OFFICES IN ABU DHABI, DUBAI & LONDON VIDEOGRAPHY MUHAMMAD KALEEM VIDEO EDITOR LIJU CHERUVATHUR PRODUCTION & DISTRIBUTION PRODUCTION MANAGER DENNY KOLLANNOOR PRODUCTION COORDINATOR MANOJ MAHADEVAN SENIOR IMAGE EDITOR EMMALYN ROBLES CIRCULATION CIRCULATION EXECUTIVE RAJESH PILLAI DISTRIBUTION COORDINATOR AVINASH PEREIRA ITP LIVE GENERAL MANAGER AHMAD BASHOUR PUBLISHED BY AND © 2023 ITP MEDIA GROUP FZ-LLC. MEDIA DISCOVERING MASAR Yasser Abuateek, the CEO of Umm Al Qura for Development & Construction, on why Masar Destination is set to become a leading landmark in the heart of Makkah FEBRUARY 2023 #189 UAEAED 20 KSASAR 20 BAHRAINBHD 2 KUWAITKWD 2 OMANOMR 2 EDITOR’S LETTER 6 CEO MIDDLE EAST APRIL 2023 Apart from our cover story, this month’s issue also contains a range of articles that focus on investment and the future of various industries, beginning on page 14. We explore the importance of diversifying your investments and how it can help you mitigate risks and achieve your financial goals. We also delve into the topic of real estate in the metaverse, hoping to answer the question of whether this could be considered a “real” investment. Transportation is another area that we explore in this issue. We discuss the latest advancements in transportation technology and the future of transport in the Middle East. Our article sheds light on how the sector is expected to evolve over the coming years and how this will impact various industries. In addition, we examine the growing importance of sustainability and ESG reporting. We look at the measures that companies in the Middle East are taking to ensure that they are operating sustainably, and how this impacts their bottom line. We also explore the importance of ESG reporting, which is becoming a crucial component of corporate reporting. In the GCC, and the UAE in particular, more focus is being placed on the SME sector, with these smaller businesses providing the innovation and employment for the future, especially in the non-oil sector. In the UAE, SMEs contribute significantly to the country’s gross domestic product (GDP), accounting for more than 50 percent of the non-oil economy. Given their importance, we have also included a section on why SMEs will be key to the future of the UAE economy, beginning on page 26. Finally, we turn our attention once more to the area of technology. Given the importance of businesses making quick and informed decisions to stay ahead of the competition, real-time data is crucial. With real-time data, businesses can monitor their operations, customer behaviour and market trends in real-time. This allows them to quickly identify any issues or opportunities and make adjustments to their strategies accordingly. As such, we have included an article on this exact subject. Turn to page 44 to check it out. Until next time. Share your views on thought leadership and innovation by getting in touch: matthew.amlot@itp.com QUESTIONS? COMMENTS? MATTHEW AMLÔT Managing Editor @MatthewAmlot THE IMPORTANCE OF DIVERSIFICATION Diversifying your investments is crucial in this climate of uncertainty H ello and welcome to the April issue of CEO Middle East Magazine. This month we continue our celebration of success and have featured Abbas Sajwani, the CEO and founder of AHS Properties, on the front cover. Sajwani, an up-and- coming real estate developer in Dubai known for his luxury and ultra-luxury projects, revealed his insights on the real estate market in Dubai, the challenges faced by developers in the current economic climate, and his vision for the future of AHS Properties.8 CEO MIDDLE EAST APRIL 2023 he way this year plays out in the world of work will be in- teresting to watch, especially as we leave pandemic behind us. On one hand a lot of the old ways are being thrown out of the window with radical departure from the office-bound cul- ture. On the other hand, advanced new technology – especially AI – is altering many job roles beyond recognition. Lean workforce due to the pressure to control costs, a competitive talent pool and the speed of digital transfor- mation have impacted businesses glob- ally. A CEO today has to make tough yet meticulous choices while carefully navigate the post-pandemic landscape to keep the head above water. Here are five of the more intrigu- ing trends that experts say are going to emerge in 2023 and will continue to evolve in the coming years. Quiet hiring The term “quiet quitting” gained prominence last year – it refers to employees refusing to go above and beyond in the role, simply doing the minimum required. When employ- ees “quiet quit” organisations keep people but lose skills and capabilities. However, experts say in 2023 savvy companies will flip the script and embrace “quiet hiring” to acquire new skills and capabilities without adding new full-time employees. This could manifest as encourag- ing internal talent mobility by deploy- ing employees to the areas where the organisation most needs them. Or, to compensate people for their evolving roles, workplaces will offer a one-time bonus, raise, additional paid time off, a promotion, greater flexibility, and more. Pursuit of non-traditional candidates Organisations have long talked about the strategic value of expanding and diversifying their talent pipelines, but generally fail to do so. However, with more employees charting nonlinear The role of leaders in the workplace is only set to increase FOUR WORKPLACE TRENDS TO WATCH OUT FOR IN 2023 Future of work. Hashwani says business leaders will look closely at how to make hybrid working work better for everyone COMMENT T BY MURTAZA HASHWANI, DEPUTY CHAIRMAN, HASHOO GROUP APRIL 2023 CEO MIDDLE EAST 9 COMMENT Learning new skills. Upskilling existing employees to take roles that may not be on their traditional road map is another trend that has taken momentum career paths and companies having trouble meeting their talent needs through traditional sourcing methods, that could change this year. People are exploring major shifts in their careers ever since 2020 and this trend has continued. Organisa- tions therefore are looking beyond traditional credentials in a candidate to fill the roles. This has drastically changed the hiring process. Therefore, it is imperative to rethink about mak- ing the hiring decisions just based on qualifications. Upskilling existing employees to take roles that may not be on their traditional road map is another trend that has taken momentum. And why not? It’s always good to create new path of growth for talented employees who have the aptitude and attitude to diversify their skill sets and prove themselves in new roles. Meaningful CSR In a 2022 Gartner study of more than 30,000 people, 87 percent said com- panies should take a public position on societal issues. The study found that when corporations do take a stand, they can expect an increase in the number of employees who go above and beyond at work (less quiet quitters!). The incoming Gen Z is going to push companies to help make the world a better place, and they certainly won’t stand for so -called “greenwashing” – the act of making others believe the company is doing more to protect the environment than it really is. Unlike their predecessors, Gen Z want to actively participate and not just pay lip service to activities and campaigns that promise to make the world a better place for them. As the demand for authentic corporate social responsibility grows, we’ll see companies commit to more meaningful action towards sustainabil- ity, improving communities and overall making meaningful impact. At least I really hope so. Leaders striving to forge closer employee bonds At roughly this time last year, in many parts of the world Covid was spiking again and although some employees had already started returning to the office many companies halted and sent staff home again. A lot has changed since then, and many people are back in offices while adopting a hybrid working system. And while accord- ing to a survey by SHRM (Society for Human Resource Management) many employees are happier with the arrangement, 65 percent of businesses say it has been “challenging” to boost morale and create a cohesive company culture when a chunk of their team is remote working. In 2023, this will surely be ad- dressed head-on. Leaders will look closely at how to make hybrid work- ing work better for everyone through actions like organising frequent full team meeting days and cultivating a more appealing place to work so when people are in, they are glad to be so. 66% The percentage of MENA employers who are planning to hire new staff in 2023, according to the Middle East Job Index Survey “IT’S ALWAYS GOOD TO CREATE NEW PATH OF GROWTH FOR TALENTED EMPLOYEES WHO HAVE THE APTITUDE AND ATTITUDE TO DIVERSIFY THEIR SKILL SETS”Next >