< Previous20 CEO MIDDLE EAST — LEGACY EDITION JULY 2023 “Pooja has a natural openness and flair which engages everyone around her. She possesses so much knowl- edge, which covers all aspects within our industry, which is why LW is respected for not only being a design firm but also is seen as a reliable partner with clients and operators.” Andrew Harms, Partner and Technical Design Director, upholds the highest design quality standards through meticulous attention to detail. He has been instrumental in developing the business from a com- mercial and delivery aspect which has set LW Design Group apart in the in- dustry, earning them a well-deserved reputation for excellence. Godsk em- phasises the significance of Harms’ contribution, stating: “Andrew has tive dedication to pushing boundaries, cultural influences, and unwavering commitment to excellence, LW Design Group stands poised to shape the future of architecture and design on a global scale. Redefining design As the firm expands its horizons, LW Design Group aspires to create unique hospitality projects, leveraging the endless possibilities and innovations it offers. Projects like Bab Al Shams, inspired by a narrative of a lost princess and her souvenirs, and iconic hospitality projects like The Dubai Edition, Waldorf Astoria in Kuwait, and Raffles Shenzhen contribute to LW Design Group’s innovation-driven design portfolio. The legacy of LW Design Group goes beyond an evolution in manage- ment; it is a testament to the firm’s people-centric approach and its impact on Dubai’s urban fabric. Start- ing with elite residential projects and soaring mixed-use towers, LW Design Group has evolved into a provider of signature hospitality projects and high-scale architectural as well as F&B endeavours, such as Bushra by Buddha Bar, Chic Nonna in DIFC, City Social in Grosvenor House, and Blind Tiger in Jumeirah Al Naseem, to name a few. The growth trajectory demonstrates the firm’s ability to adapt and thrive amidst international competition. Embracing the legacy left by its founders, the third-generation leaders infuse LW Design Group with their unique strengths and vision. They have expanded the firm’s presence in new markets, fostering collaborations with renowned architects and design- ers worldwide. LW DNA The LW DNA, nurtured by the founders and carried forward by the third-generation leaders, remains a defining characteristic of the company. Chic. Blind Tiger – A mysterious yet playful speakeasy bar in Jumeirah Al Naseem, Dubai enabled LW to create a more flexible approach and react efficiently to the ever-changing demands on projects while maintaining quality throughout all the design and construction stages.” As LW Design Group continues to redefine design boundaries, the expertise and vision brought forth by Battisby, Kidd, Shah-Mulani and Harms solidify the firm’s position as an industry leader. With their collec- 1999 The year in which LW Dubai studio was set up in the emirate COVER STORY | JESPER GODSKJULY 2023 CEO MIDDLE EAST — LEGACY EDITION 21 The LW DNA encompasses a deep commitment to creating designs that transcend trends, stand the test of time, and evoke emotional connections with their occupants. It symbolises the friendship, collaboration, and shared passion for design that set LW Design Group apart in the industry. With its sights set on competing with international players, LW Design Group continues to redefine the boundaries of design and leave a permanent mark on the global stage. The future “To continue to develop our legacy, LW’s priority is to get stronger, not bigger,” Godsk says of the brand’s vision for the future, adding: “Our reputation is now recognised globally, Architectural minds. (Left to Right) Colin Doyle, Jesper Godsk, Lars Waldenström and Cristina Wakamatsu and our dream when we started back in 1999 of being an international design firm has now been achieved. Every new project is a unique experi- ence, and we hope the future will continue to present LW with exciting new projects across the globe.” As the legacy of LW Design Group continues to unfold, it serves as a testament to the power of vision, col- laboration, and the enduring impact of design. With the company’s footprint firmly making a mark around the globe with its four offices, LW Design Group stands at the forefront of the design industry, inspiring and innovating for future generations. TO CONTINUE TO DEVELOP OUR LEGACY, LW’S PRIORITY IS TO GET STRONGER, NOT BIGGER JESPER GODSK | COVER STORY22 CEO MIDDLE EAST – LEGACY EDITION JULY 2023 he health of an automotive market is often said to be a good indicator of a coun- try’s overall economy. The good news is that when it comes to the GCC, and particularly the UAE and Saudi Arabia, all indicators point to a very healthy patient. The numbers back it up: in the forecast period 2021 to 2026, Technavio reports that the region’s automotive market will accelerate at a CAGR of 6.74 percent. So why is this? Part of it can be attributed to the growing population and increased disposable income. In addition, there have been sizable in- vestments in road networks across the Gulf as well as an increased focus on Everything starts with the favourable business environment of the GCC THE GULF’S AUTOMOTIVE INDUSTRY: WHY IS IT SO STRONG AND WHERE IS IT HEADING? Popular. There is the well-known love of high-end luxury vehicles, particularly in Dubai TRANSPORT BY KARL HOUGAARD, FOUNDER AND MANAGING PARTNER, TRADE LICENCE ZONE TJULY 2023 CEO MIDDLE EAST – LEGACY EDITION 23 “SAUDI ARABIA AND THE UAE ARE BOTH LOOKING TO FURTHER EXPAND THEIR AUTOMOBILE IMPORT MARKET” Industry expert. Karl Hougaard, founder and Managing Partner, Trade licence Zone electric and hybrid cars. Then there is the well-known love of high-end luxury vehicles, particularly in Dubai. But who is buying, and what are they buying? What’s the situation with imports and exports? And what role are innovation and the journey to sustainability playing in disrupting the automotive industry? Let’s look at all these points and take the temperature of the automo- tive industry as it stands today – and what it might look like tomorrow. Drivers of the GCC automotive industry growth: Car sales and rental According to Statista, passenger car With this growing demand, Saudi Arabia and the UAE are both looking to further expand their automobile import market. Who is dominating the market? It is Japanese brands that lead the way in Saudi Arabia and the UAE. Toyota has been the market leader in the UAE for several years now, with Nissan and Mitsubishi taking second and third place. Japanese brands’ popularity is largely due to their strong resale value, availability of spare parts and low maintenance costs. Japanese dominance isn’t limited to the UAE and Saudi Arabia. Statista reports that they come out on top across the entire MENA region, with Korean and American brands in sec- ond and third place. As the market continues to grow, part of it will be driven not just by the vehicles themselves but by automotive logistics. This covers everything from storing vehicles, distributing them to dealerships or customers, transport- ing automobile components or raw materials, and managing the various processes. Having this infrastructure in place, with a flow of spare parts and vehicles, along with the disposal of vehicles at the end of their life, creates an ecosystem that generates jobs and boosts the economy. Currently, automotive logistics in the GCC is valued at $6.1bn, with a CAGR of 4.5 percent predicted over the period 2019 to 2028. The key play- ers in the automotive logistics sector include Ceva Logistics, DB Schenker and DHL. With this growth in mind, the UAE and Saudi Arabia are both investing in research and development as well as constructing manufacturing plans as they increasingly look to home-grown manufacturing and the export business that will accompany it. This is linked closely with the GCC’s overall commit- ment to sustainability. TRANSPORT sales in the UAE are projected to double between 2021 and 2026 to more than half a billion units. The coun- try is well-known for its luxury cars, and in fact these make up around 15 percent of the total car market. And the popularity of the luxury car end of the market is pushing not just sales but also rentals, with multiple online marketplaces now offering high-end vehicle rental from one hour up to several days. There is also a sizable used-car market. Back in 2020, the market for used cars in the UAE was estimated at around $12bn, and this is project- ed to grow to $18.3bn by 2027. Much like the growth in rentals, part of this projected growth is down to the abil- ity to browse and purchase through online marketplaces.24 CEO MIDDLE EAST – LEGACY EDITION JULY 2023 TRANSPORT The role of innovation in the automotive market The three key initiatives in boosting the region’s sustainability credentials are Saudi Arabia Vision 2030, Dubai 2040 Urban Master Plan, and We The UAE 2031. A major component of any move- ment towards a more sustainable economy is transport. A large part of this will be the development of electric vehicles and the accompany- ing infrastructure. To that end, the Saudi Electricity Company has signed deals with several Japanese compa- nies (Nissan Motor among them) for an electric vehicle pilot project. This will include the development of fast- charging EV stations. Meanwhile, in the UAE, the goal is to have 10 percent of Dubai’s vehicles be electric by 2030. Dubai alone has around 200 charging stations, with the stated goal of the UAE government to have over 40,000 electric cars on the Mobility. The market for used cars in the UAE is projected to grow to $18.3bn by 2027 24% The projected compound annual growth rate (CAGR) of the UAE’s electric vehicle market from 2022 to 2028JULY 2023 CEO MIDDLE EAST – LEGACY EDITION 25 TRANSPORT roads over the next few years. The UAE is also moving quickly regarding the nec- essary charging infrastructure. Accord- ing to Consultancy-me.com, the UAE’s Green Charger initiative aims to provide free charging stations at DEWA Green charger locations and grant electric vehicles exemption from toll charges. It is thought that the UAE’s electric vehicle market will grow at a CAGR of approximately 24 percent from 2022 to 2028. And this being the UAE, it’s likely that the key will be emission-free vehi- cles that still offer the kind of high-end luxury feel that has become something of a hallmark for the country. In terms of homegrown manu- facturing, Saudi Arabia now has 160 vehicle plants that produce cars as well as engine parts and accessories with many of the plants focused on electric vehicles. The same report notes that Saudi aims to produce around 300,000 cars by the end of the decade. This trend isn’t just confined to one country. Last year it was announced that Abu Dhabi would build an electric vehicle assembly facility in KIZAD with manufacturing, research and de- velopment, as well as electric vehicle testing. A new plant is also opening in Dubai Industrial City for the produc- tion of electric vehicles. Driving into the future Everything starts with the favourable business environment of the GCC. It’s a region where foreign companies want to invest and do business. Increasingly, rather than just being the recipient of automotive products, the GCC is start- ing to produce them on its own turf. This will not only help meet high local demand, but also open new avenues for exports. As mentioned, the associated infrastructure that comes from this industry benefits everyone – from the ease of getting hold of spare parts to encouraging governments to invest in their road networks. With technology and sustainabil- ity the two words on everyone’s lips these days, the automotive industry is a good example of where these two ideas truly meet. The UAE, in particular, has successfully set itself up as a tech hub, and innovations in the area of transport will continue to further establish the region as a place of huge opportunity for manufactur- ers, suppliers, and investors. Luxury wheels. The popularity of the luxury car end of the market in the UAE is pushing not just sales but also rentals “INNOVATIONS WILL CONTINUE TO ESTABLISH THE REGION AS A PLACE OF HUGE OPPORTUNITY”26 CEO MIDDLE EAST – LEGACY EDITION JULY 2023 l Masaood Automobiles CEO Irfan Tansel has more than four decades of experience in the automotive industry. A passion for automobiles first realised as a 15-year-old mechanic’s assistant led to a career spanning three continents, countless awards and a reputation for industry disruption, pas- Dhabi and the Western Region and last month was awarded the Sheikh Khalifa Excellence Award (SKEA), which is part of Abu Dhabi Chamber of Com- merce and Industry (ADCCI). As CEO, Tansel believes his com- pany’s approach to success lies in: • Vision • Diligent hard work • All-around excellence. Here, Tansel shares six secrets for business success. Leadership and growth are key ingredients for success “Today, the main ingredients for corpo- rate success are unparalleled leadership and operational excellence across a spectrum of core areas. “From strategy, people and custom- ers to partnerships and resources, products and community, processes and results, societal impact as well as business outcomes. “To achieve optimal performance, organisations must be consistently devoted to growth at every level. “Drivers of growth span multiple areas including people’s progress, customer service excellence, optimal resource management, process opti- misation and cost savings, as well as product development tailored precisely to meet customer demands. “In addition, social impact is a key component contributing to corporate success. Today, businesses must focus on a meaningful balance between profit and purpose to ensure long- term success.” Deliver compelling customer journeys and quality service The future of many organisations today is dependent on providing compelling on-demand, one-stop-shop mobility service solutions to customers. Companies should also focus on strengthening sales and aftersales digital capabilities and remapping their customer journeys. Al Masaood Automobiles CEO Irfan Tansel shares his blueprint for business excellence FINDING SUCCESS Solid. Al Masaood Automobiles has witnessed exceptional growth over the past year LEADERSHIP BY CEO MIDDLE EAST STAFF A sion and corporate excellence. Despite global economic turmoil, his Al Masaood Automobiles has witnessed exceptional growth over the past year. Irfan Tansel business tips The firm is an authorised dealer for Nissan, INFINITI and Renault in Abu JULY 2023 CEO MIDDLE EAST – LEGACY EDITION 27 “THE BUSINESS WORLD NEEDS TO NURTURE STRONGER MANAGEMENT TEAMS THAT LEAD BY EXAMPLE” Decision-maker. With Tanseel at the helm, Al Masaood Automobiles has adopted a continual improvement approach to Quality, Health, Safety and Environment (QHSE) standards Leaders must nurture colleagues from strategy to reality “The business world needs to nurture stronger management teams that lead by example and help employees understand, contribute to and follow corporate strategies. “One of the reasons Al Masaood Automobiles has been recognised by the Higher Committee of SKEA is our ex- emplary leadership skills and outstand- ing operational performance across a range of pivotal aspects—not only from a strategy development perspective but also due to our astute people manage- ment practices. The development of employees in tandem with leaders can help establish a strong, unified corporate foundation, ensuring future generations are well-equipped to take the reins. “This approach allows businesses to create sound succession plans that propel them forward towards their vision. As such, our forward-thinking approach has been the driving force be- hind our success, pushing us to create a lasting legacy”. Learning and development never end “Leadership and staff development should be an ongoing exercise for any organisation. Commit to expanding leadership competencies, and strength- ening leadership teams with the goal of achieving operational excellence. “Work with employees to build indi- vidual development schemes backed by our performance management system”. Engage customers to create loyalty “Whether you are selling a product or a service, today is all about enhancing engagement and removing pain points from the customer journey. “A core customer journey is one that clearly identifies enablers and account- abilities across brands. Focus on un- derstanding customer personas and map- ping the stages of their journey. Providing Leadership in action The leadership of Irfan Tansel is taking Al Masaood Automobiles to new heights. It was the first automotive dealership in the GCC region to receive Bureau Veritas’ Safeguard Label (ISO 45001:2018) for sales and aftersales operations, as well its initiative to unveil Nissan’s first interactive e-commerce platform in the Middle East, Africa, India, and Turkey. In 2022, it received the GCC Best Employer Brand Award for the third consecutive year. The same year it invested heavily in senior and middle management as well as employees by providing 15,767 hours of soft skills and technical training. Al Masaood Automobiles adopts a continual improvement approach to Quality, Health, Safety and Envi- ronment (QHSE) standards. It has embraced eco-friendly practices in line with Abu Dhabi Environment Vision 2030, and one of the key pil- lars enabling the company to achieve operational excellence is a zero- waste goal. LEADERSHIP one guiding ‘North Star’ helps ensure core services and support functions have clear direction and alignment with exist- ing and future customer demands.” Transparency and accountability throughout “Transparency and accountability are essential components of opera- tional excellence, helping maintain an unwavering focus on ethical conduct across any organisation. Be steadfast in upholding the highest standards of corporate governance.”28 CEO MIDDLE EAST – LEGACY EDITION JULY 2023 he United Arab Emirates (UAE) is home to a thriving expatriate community, with over 8 million people seeking oppor- tunities in this dynamic nation. Many of these expats own assets in both the UAE and their home countries. Further, ambitious entrepreneurs from differ- ent continents strategically invest in profitable businesses in Dubai, often opting for renowned free zones such as Meydan Free Zone. They prudently establish their enterprises, strategically investing in prestigious assets and strengthen- ing their wealth within this thriving UAE’s civil law jurisdiction permits the establishment of foundations and legal entities that hold assets on behalf of benefi ciaries SECURE YOUR ASSETS IN THE UAE: EXPERT TIPS FOR EXPATRIATES Asset protection. The DIFC Courts Wills Service allows non-Muslim expatriates to register wills under regulations similar to those in England and Wales FINANCE BY ANISHA SAGAR, HEAD OF MARKETING AND COMMUNICATIONS, MEYDAN FREE ZONE TJULY 2023 CEO MIDDLE EAST – LEGACY EDITION 29 “ULTIMATELY, EXPATRIATES IN THE UAE SHOULD ADOPT PROACTIVE APPROACHES TO SECURE THEIR ASSETS” Business hub. Meydan Free Zone allows residents to start a business with a guaranteed bank account in Dubai Media-savvy. Anisha Sagar, Head of Marketing and Communications, Meydan Free Zone business haven. However, establish- ing a comprehensive plan is crucial to ensure these assets’ protection and seamless transfer. You should have a will that outlines your wishes and instructions regard- ing the distribution of your estate, including money, property, possessions, and other assets, after your lifetime. While wills can range from simple remarks to complex legal documents, they play a crucial role in facilitating the settlement of your financial affairs in the UAE and minimizing stress for your loved ones during difficult times, especially if you have dependents such as small children, disabled children, or elderly parents. Although wills are not required to be registered in the UAE, its highly recommended that expatriates resid- ing in the UAE or those owning mov- able or immovable assets within the country register a will. Meydan Free Zone, for example, allows you to start a business with a guaranteed bank account in Dubai, allowing you to keep your funds in trust. Aside from bank accounts and companies, you can also register a will for assets like real estate, invest- ments, and other financial holdings. By doing so, you can prevent potential legal complications your legal heirs face upon your demise, as the registered will ensure clarity and certainty in asset distribution. To safeguard your assets effectively, consider the following five types of protection available in the UAE: 1. DIFC Will: The DIFC Courts Wills Service allows non-Muslim expatriates to register wills under regulations simi- lar to those in England and Wales. This service provides testamentary freedom and enables the transfer of assets based on your intentions without invoking Sharia law. 2. Abu Dhabi Wills: The Abu Dhabi Wills Registry empowers non-Mus- lims to register alternative wishes 3. Gifting: While strictly regulated, asset transfer through gifting allows you to change ownership of property or assets to specific individuals, such as spouses or children. This strategy helps mitigate the constraints imposed by Sharia inheritance laws. 4. Holding companies and trusts: Transferring assets and property into a holding company or trust offers ade- quate protection. These legal structures provide ease of privacy, control, and administration, allowing you to secure your assets for future generations. 5. Foundations: UAE’s civil law ju- risdiction permits the establishment of foundations and legal entities that hold assets on behalf of beneficiaries. Foun- dations offer similar benefits to trusts, allowing for the separation of legal and beneficial interests and enabling control over assets. It is vital to consult legal profes- sionals when preparing these vehicles to ensure compliance with regulations and tailor them to your specific needs. Once registered, you can enjoy peace of mind knowing that your UAE assets and property are effectively protected. Ultimately, expatriates in the UAE should adopt proactive approaches to secure their assets. Seek advice from a qualified solicitor to determine the best strategy for safeguarding your business, property, and other assets while residing in Dubai. FINANCE for their assets rather than adhering to Sharia law. This registry ensures that your intentions are accurately expressed and that your wealth is protected in Abu Dhabi.Next >