MARCH 2024 #204 CEO MIDDLE EAST MARCH 2024ISSUE #204 Hassan Sharbatly, founder of Digitect and CEO of Al Nahla Hospitality, unpacks his commitment to talent and investment HHShbtlHHassan SShharbbattlly,ffd ffounder GROWTH THROUGH VISION UAE AED 20 KSA SAR 20 BAHRAIN BHD 2 KUWAIT KWD 2 OMAN OMR 2 QATAR QAR 20Join the global leader: difc.ae/make-enquiry Join the #1 financial centre to access more wealth When you join the number one global financial centre in the region, you can access the highest concentration of wealth in any Middle Eastern city. Nearly 70,000 millionaires live in Dubai. USD 3trn of private wealth is within an hour’s flight and USD 8trn available across the Middle East, Africa and South Asia. No wonder more than 340 hedge funds, private equity, venture capital, private banking and asset management firms have chosen DIFC, the leading global financial centre in Middle East, Africa and South Asia region, as a catalyst for growth.MARCH 2024 CEO MIDDLE EAST 3 18 COVER STORY Hassan Sharbatly, CEO of Al Nahla Hospitality, unpacks his commitment to talent and investment 12 COMMENT It’s not a surprise that the UAE is off the grey list, but it does serve to elevate the nation’s global financial standing, says Aly Shah, founder and managing director of Alyiant Consultancy 26 LOGISTICS World Expos have served as essential platforms for nations to showcase their advancements in technology, culture, and commerce, says Fahad Al Salhi, Chief Solutions Officer, AJEX Logistics Services 34 AVIATION Lorenzo Jooris, CEO of Creative Zone, breaks down five major factors driving the boom in Middle East private aviation 48 TIMEPIECES OF THE MONTH We present the Royal Oak Concept Flying Tourbillon “Tamara Ralph” Limited Edition from Audemars Piguet 18 12 26 48 MARCH 2024 #204 CONTENTS4 CEO MIDDLE EAST MARCH 2024 ello and welcome to the March 2024 issue of CEO Middle East. This month we are thrilled to feature prominent Saudi entrepreneur Hassan Sharbatly on our cover. As the CEO of Al Nahla Hospitality and a leader driving the transformation of Saudi Arabia’s thriving hospitality sec- tor, Sharbatly is fully aligned with the goals of Vision 2030. Born into a family with a rich legacy of entrepreneurship spanning multiple industries, Sharbatly is guided by this historical success as he oversees the continued growth of Al Nahla Group. “As an entrepreneur overseeing a multi-generational legacy, my vision seamlessly aligns with Saudi Vision 2030,” says Sharbatly. “Rooted in a commitment to con- tribute to the nation’s growth, I focus on fostering innovation, embracing sustainability, and actively participating in economic diversification.” Under Sharbatly’s leadership, Al Nahla Hospitality is focused on creat- ing distinctive experiences that opti- mise real estate assets through informed decision-making and active participa- QUESTIONS? COMMENTS? Share your views on thought leadership and innovation by getting in touch: matthew.amlot@itp.com MATTHEW AMLÔT, EDITORIAL DIRECTOR @MATTHEWAMLOT GROWTH, PROGRESS, OPPORTUNITY Delving into the thoughts, minds, and ideas behind the region’s biggest power players H EDITOR’S LETTER tion in sustainable projects. Looking ahead to 2024, Sharbatly’s aspirations for Al Nahla Hospitality are strategically audacious. Plans include strategic investments in the tourism sec- tor with upscale hotels such as SLS, SO, 25Hours, and Fairmont. The group also aims to expand its footprint in the hos- pitality industry by 2024, introducing prestigious brands, such as restaurants of the French Moma Group — Manko, Noto, Café Laperouse, and Mimosa. Turn to page 18 for the full story. We are also pleased to report on a momentous achievement of the UAE this month with its removal from the FATF grey list. As examined on page 12, this milestone victory represents a major boost for the country’s economy and global standing as a financial hub. Further, our interview on page 16 with Hamid Al Zaabi, who led the UAE’s successful taskforce, delves into how this milestone underscores the nation’s strong commitment to anti-money laundering regulation and what it means for businesses going forward. Additional key features this issue include an analysis of five major trends shaping the private jet industry’s con- tinued growth in the Middle East, cov- ered on page 34. With an increasingly wealthy demographic and demands of modern business travel, the luxury aviation sector is poised for further expansion. Meanwhile, as applications of artificial intelligence rapidly develop, governments must urgently establish responsible regulatory frameworks to maximise this technology’s contribution while mitigating risks, a timely discus- sion on page 38. The role of professional appear- ance and first impressions also remain paramount in the business world. Our feature on page 46 examines global research revealing how visual cues like attire heavily influence perceptions of trustworthiness and competence. Tak- ing care with presentation serves as a small but impactful advantage for CEOs and executives in their interactions. With that I’ll let you get to reading. Until next time. 6 CEO MIDDLE EAST MARCH 2024 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 UAE AED 20 KSA SAR 20 BAHRAIN BHD 2 KUWAIT KWD 2 OMAN OMR 2 QATAR QAR 20 01–15 FEBRUARY 2024 #202 Founder and Chairman of ORO24 Developments Atif Rahman flips the script on real estate by prioritising human needs over profit with stunning, sustainable communities THE GROUNDBREAKER 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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As we descend, I peer out of the window to the scene beneath and I’m filled with anticipation to discover a land I’ve already heard so much about. Away from the busy streets of Mumbai and crowded Delhi, Kerala offers a more laidback atmosphere, but one that is every bit as memorable. It’s known as God’s Own Country, thanks to its vast emerald valleys and lush landscapes. The term has a mythological origin, too, tied to the belief that Parashurama, a manifestation of Lord Vishnu, a principal deity in Hinduism, threw his axe into the sea to create a home in which his followers could live peacefully. If ever a story epitomises a place, it’s this one: Kerala, born at the hands of a God for the purpose of people living in harmony. Kerala is world-famous for its houseboats that plough the glistening backwaters, a labyrinthine 900-kilometre network of brackish canals, lakes Beaches Backwaters & Kerala, India’s tropical coastal jewel, has much to offer curious travellers By Francesca Kirby November 2023 | ATLAS BY ETIHAD | 2524 | ATLAS BY ETIHAD | November 2023 suitcase Smooth skin The Barbiere multi-action face cream for men from Acqua Di Parma combines moisturing, smoothing, and revitalising properties to combat exposure to blue light from digital screens and environmental elements. It also comes in eco-friendly packaging ($120, acquadiparma.com). Wild ocean Enriched with almond, hazelnut, and prickly pear oils, this Wildocean beard oil is designed for medium to long facial hair that needs softening ($21, beautyethic.com). Red gold Acqua Di Parma’s new fragrance, Zafferano, is a celebration of saffron, with citrus and floral notes brought by orange blossom, jasmine sambac, and geranium, and a woodiness from tonka bean and vanilla ($284, acquadiparma.com). All smiles Apa White Toothpaste uses ultrapolish technology to help clean stains, alongside hydroxyapatite to rebuild enamel. It’s formulated to tackle plaque and tartar build-up without fluoride, while still leaving your mouth feeling fresh ($25, apabeauty.com). High performance The new Homme collection from Ritual Cosmetics is a range of grooming essentials for body, face, and beard. It’s tough on sweat and gentle on shaving rashes, with an uplifting essence as its base. It’s also infused with vitamins E, C, and B3, plus peptides, ginseng, argan oil, and aloe vera (rituals.com). Groom yourself Men, look your best with this selection of personal care products suitcase The stylish way to travel THIS PAGE: ACQUA DI PARMA; OPPOSITE PAGE: RITUALS; ACQUA DI PARMA; APA BEAUTY; BEAUTY ETHIC 7.8804° N, 98.3923° E7.8804° N, 98.3923° E 2023 ﺮﺒﻤﻓﻮﻧ | ناﺮﻴﻄﻠﻟ دﺎﺤﺗﻻا ﻦﻣ ﺲﻠﻃأ | 2627 | ناﺮﻴﻄﻠﻟ دﺎﺤﺗﻻا ﻦﻣ ﺲﻠﻃأ | 2023 ﺮﺒﻤﻓﻮﻧ ﺔﻀﺑﺎﻨﻟا ﺔﻨﻳﺪﻤﻟا هﺬﻫ ﻒﺸﺘﻛا لﺎﻣﺮﻟاو ﺲﻤﺸﻟا ﺮﻴﺛأ ﻰﻠﻋ ةﺎﻴﺤﻟﺎﺑ ناﺮﻴﻄﻠﻟ دﺎﺤﺗﻻا ﻊﻣ ﺔﻨﻴﻜﺴﻟاو ﺰﻧارﺎﻤﻟو ﻦﻴﻟ ﺖﻴﻛ ΙήΘϟΔϗήϋϦϴΑΎϣϊϤΠΗϲΘϟϥΎϣΪϧήΤΑΓΆϟΆϟˬΖϴϛϮΑ ϦπΘΤΗΚϴΣˬΔϘϠτϤϟήμόϟΔϴϫΎϓέϭˬϲϨϐϟϱΪϨϠϳΎΘϟ ϳΰϳϦϣέΎψΘϧΎΑΓΪϳήϔϟΏέΎΠΘϟϦϣΔϋϮϨΘϣΔϋϮϤΠϣΖϴϛϮΑ ˬΔϤΣΩΰϤϟΎϬϗϮγϰΘΣήϜΒϟΎϬΌσϮηϦϣ˱˯ΪΑˬΎϬϨϋέΎΘδϟ ϩάϫϲϓΎϨϘϓέΔΒΧΎμϟΔϴϠϴϠϟΎϬΗΎϴΣϰϟ·ΔΩΎϬϟΎϫΪΑΎόϣϦϣϭ ίϮϨϛϭέήγϰϠϋϑήόΘΗϲϛΔϋΎγ 72 έΪϣϰϠϋΔϟϮΠϟ ΔϴϮΘγϻΔϨΠϟϩάϫ ﺦﻳرﺎﺘﻟا ﻖﺒﻌﺑ ﺔﻗرﺎﻏ ﺔﻨﻳﺪﻣ ˬ˱ΔϴΒόηΎϫήΜϛϭΖϴϛϮΑΪΑΎόϣήΒϛΪΣˬ³ώϧϮϟΎθΗΕϭ´ ˱ΎΣΎΑλ ΔϋϮϤΠϣϰϠϋϭˬΫϮΑϦϣΕΎϓέϰϠϋήϴΒϜϟΪΒόϤϟάϫϱϮΘΤϳ ϲΘϟϞϴΛΎϤΘϟϭˬΕΎΣϮϠϟϭˬΔϠΧΪΘϤϟϢϴϣΎμΘϟωϭέϦϣΓήΣΎγ ˯ΪΗέΓέϭήοϰϟ·ΎϨϫήϴθϧϭΫϮΑΓΎϴΣϦϣΕΎϔτΘϘϣέϮμ˵Η ϲϓΪΟϮΘϟΪϨϋϦϴΘΒϛήϟϭϦϴϔΘϜϟϲτϐΗϲΘϟΔϤθΘΤϤϟΏΎϴΜϟ αΪϘϤϟϥΎϜϤϟάϫ ϞϜθΗϲΘϟΔϴΨϳέΎΘϟΔϨϳΪϤϟϲϫϭˬΔϤϳΪϘϟΖϴϛϮΑΔϨϳΪϣ ˱ έϬυ ΔϴϨϴμϟΓέΎϤόϟϥϮϨϓΔϨοΎΣϭˬΖϴϛϮΑΔϨϳΪϣ˯ΰΟΪΣ ήμϋάϨϣΔϨϳΪϤϟϩάϫέΎϫΩίϭϖϟϰϠϋΓΪϫΎθϟˬΔϴϟΎϐΗήΒϟ ΔϴϫΰϟΎϬϧϮϟ΄ΑϙϮΗϙϮΘϟΕΎΑήϋΪό ˵ ΗϭήϳΪμϘϟϦϳΪόΗ ϡΎότϟϕΎθϋΎϣΔϨϳΪϤϟϑΎθϜΘγϻΔόΘϣήΜϛϷϞϘϨϟΔϠϴγϭ ϮϫϭˬϲΗϭήϟΎϬγέϰϠϋϭˬΔϴϠΤϤϟΕϻϮϛ΄ϤϟΔΑήΠΗϢϬϴϠόϓ ΰϛήϤϟΐϴϠΤϟϊϣϡΪϘ˵ϳΎϣ˱ΓΩΎϋϱήσϭϖϴϗέτδϣΰΒΧ ˬϲϬθϟϦϴϛϮϫϲϤϟΔϧϭήϜόϣϖΒσϭˬάϳάϠϟϱέΎϜϟϭϰϠΤϤϟ ΕϻϮϛ΄ϤϟϊϣΔϴϠϘϤϟ˯ήϔμϟ ϝΩϮϨϟ ΔϧϭήϜόϤϟϦϣϒϟΆϤϟ άϳάϠϟϕήϤϟϭˬΔϳήΤΒϟ ˬ³ϱΎϜϳήΗΖϴϛϮΑ´ϒΤΘϣϞΧΪΗΖϧϭϚγϮΣϒϫέ ˱˯Ύγϣ ΔϴΛϼΛϭΔϴϠϋΎϔΘϟΔϴϨϔϟϝΎϤϋϸϟϞϫάϣνήόϣϦϋΓέΎΒϋϮϫϭ ΎϫΪόΑϚΗίΎΟ·έϮλϦϴϳΰΘϟΓΰϴϤϣΕΎϴϔϠΧήϓϮϳϪϧΎϤϛˬΩΎόΑϷ ϱΪϧϼϳΎΗϲϨϴλϊΑΎτΑϢϳΪϗϢότϣϮϫϭˬ³Ύϳέ´Ϣότϣϰϟ·ϪΟϮΗ ϱέΎϜϟΎΑϥϮότϠδϟΎϬϨϣϭˬΔϳΪϴϠϘΘϟϕΎΒσϷϒϠΘΨϣϡ˷ΪϘϳ ϲϬϨϨγϢΛϦϣϭάϳάϠϟϱΪϧϼϳΎΘϟήπΧϷϱέΎϜϟϭˬΎϤϳήϜϟϭ ϰϠϋΔϣϭΎδϤϟΪόΗϲΘϟϭˬΔΒΧΎμϟϕϮγϷϲϓϝϮΠΘϟΎΑΔϠϴϠϟ ΔΒΒΤϤϟΔϴϠΤϤϟΔϓΎϘΜϟϦϣϭΎϫΪϴϟΎϘΗϦϣ ˱ ˯ΰΟέΎόγϷ لوﻷا مﻮﻴﻟا تاو” ﺪﺒﻌﻣ :ﻦﻴﻤﻴﻟا ﻰﻟإ رﺎﺴﻴﻟا ﻦﻣ ﺔﻨﻳﺪﻣ ﻲﻓ “ﻎﻧﻻﺎﺗ” ﻖﻳﺮﻃ ؛“ﻎﻧﻮﻟﺎﺸﺗ .ﺔﻤﻳﺪﻘﻟا ﺖﻴﻛﻮﺑ مﺎﻳأ ﺔﺛﻼﺛ ﺖﻴﻛﻮﺑ ﻲﻓ ﺔﻳﺎﻜﺤﻟا ﺔﻳﺪﻧﻼﻳﺎﺘﻟا KENZIE KRAFTA / UNSPLASH; SHUTTERSTOCK ’ 8 CEO MIDDLE EAST MARCH 2024 he WIN Symposium 2024, a landmark event in preci- sion oncology, has officially commenced in Abu Dhabi, marking a significant collaboration between the Worldwide Innovative Network (WIN) Consortium and Burjeel Holdings. This two-day annual global congress of the WIN Consortium brings together over 500 physicians, researchers, and scientists in the field from 30 countries to explore the latest advancements in precision oncology, with the ultimate goal of improv- ing cancer patient care and outcomes worldwide. Nobel laureate presents latest re- search on immunotherapy Under the theme ‘Precision and Mo- lecular Oncology: Caring for Patients and Future Generations,’ the congress kicked off with a grand opening featuring 2018 Nobel Laureate, Prof. James Allison, Regental Professor and Chair of the Department of Immu- nology at the MD Anderson Cancer Center (USA), whose groundbreaking work has revolutionized cancer im- munotherapy. In his keynote lecture, Prof. Allison, presented the latest re- search on how immunotherapy works and the way in which treatments can be improved, tailored and combined so that they are more effective and safe to give to patients with various types of cancer. On the sidelines of the event, Prof. Held in partnership with Burjeel Holdings, the congress is being conducted outside Europe for the first time GLOBAL ONCOLOGY LEADERS CONVERGE AS ABU DHABI HOSTS ITS FIRST WIN SYMPOSIUM Esteemed dignitaries, including Nobel Laureate Professor James Allison, during the grand opening session of the WIN Symposium 2024 in Abu Dhabi SPOTLIGHT BY CEO MIDDLE EAST STAFF TMARCH 2024 CEO MIDDLE EAST 9 SPOTLIGHT Allison, said, “We are excited to be here and hear about what is happen- ing in the UAE. We are impressed by the infrastructure being built for the development of patient care and cancer treatment, particularly in pre- cision oncology, genomic medicine, and immunotherapy. The future is already here in terms of collaboration with various groups, including those planning infrastructure and building medical systems in Abu Dhabi, espe- cially in clinical trials and the testing of new drugs.” The WIN Consortium, a non- profit association headquartered in France, unites 31 world-class academic medical centers, healthcare industries, research organizations, and patient advocacy groups from 18 countries, aligned to launch cancer trials using omic platforms to bolster precision oncology across the world. BMC — Burjeel Medical City, the flagship facility of Burjeel Holdings, is the first and only member from the UAE and GCC. Abu Dhabi was selected as the city to host this year’s congress, marking its inaugural oc- currence outside of its traditional European venue. This decision reflects the interna- tional scientific community’s trust in the UAE’s vision and capabilities in advancing precision oncology. During the opening ceremony, Dr. Asma Al Mannaei, Executive Director, Research and Innovation Center at Department of Health – Abu Dhabi, outlined the DoH’s plans for precision medicine. “The Depart- ment of Health is at the forefront of integrating advanced tools and strate- gies at both clinical and genomic data levels. Our goal is to not just promote precision research and care but to revolutionize it, ensuring that person- alized healthcare is not a luxury, but a standard,” said Dr. Asma. Transforming cancer care Emphasizing the importance of col- Nobel Laureate Professor James Allison delivering the keynote lecture at the WIN Symposium 2024 laborative efforts in transforming can- cer care, Prof. Wafik El-Deiry, Chair, WIN Consortium, Director, Legorreta Cancer Center, Brown University (USA) said, “Treating patients with cancer without fully understanding established and emerging molecular biomarkers for cancer outcomes can severely limit many aspects of patient care. The global WIN Consortium in cancer personalized medicine is pleased to collaborate with a strong scientific partner such as Burjeel Holdings to bring the premiere annual precision oncology WIN Symposium to Abu Dhabi. “The world-class clinical and research faculty including Nobel Laureate James Alison are discussing how biomarkers, technologies and intelligent algorithms are helping patients with advanced cancer access the best life-prolonging treatment combinations and approaches that are transforming cancer care in the field of precision oncology.” The congress features a me- ticulously curated program, featuring interactive elements that illustrate the principles and best practices of preci- sion cancer treatment. Key opinion leaders and innovators from prestig- ious institutions worldwide and major precision diagnostic companies are participating, fostering discussions on the latest advancements in precision medicine. Dr. Shamsheer Vayalil, Founder and Chairman, Burjeel Holdings, highlighted the Group’s commitment to cancer care, stating, “We are com- mitted to advancing our understand- ing of cancer and work towards im- proving patient care, not only for the current but also for future generations in the UAE and region. The only way for us to do this is through foster- ing an engaging dialogue between international scholars and innovators and local experts to bridge theory and real-world practice and forge lasting partnerships.” Next >