How would you describe the current real estate market in Dubai? Are there any trends or shifts you are particularly excited about?

It’s important to embrace the fact that every economy must go through cycles. The real estate correction, debt default, and construction risk are natural outcomes for any real estate industry in a downturn. I personally feel that a global slowdown is imminent, and this is evident through the yield curve remaining inverse, the deflationary impact in China in addition to the contraction of major European countries, among others. It’s being warned by experts.

In your experience, what role does real estate play in boosting Dubai’s economy? Are there ways you see it shaping the city’s future growth?

If the real estate sector is booming, growth will also occur in the banking, retail, automobile, insurance, luxury, media, and marketing industries. Even businesses selling papers and bins will experience growth.
I also want to highlight that no economy can grow without the expansion of real estate. Industries, warehouses, schools, universities, hospitals, malls, and recycling units are all real estate — not just homes and offices.

Could you share some insights into your strategy at ORO24 and what makes it stand out in Dubai’s real estate landscape?

There are three elements that help us make our real estate an attractive proposition: economies of scale, modular design, and value engineering. We also collaborate through strategic partnerships with specialized companies.
Through all of this, we imagine a human life thriving in our communities and we reflect that in our project design. I believe the real estate business is about understanding human needs and delivering those for your consumer with elements of lifestyle and price efficiency.

What are some of the biggest challenges for developers in Dubai’s fast-paced market, and how is ORO24 positioning itself to stay competitive?

I am glad that you correlated challenges with the fast-paced growth, which people and media generally don’t do. I would divide them into two parts: one at the industry level, and the second is the inhabitant in the business.
The industry will continue to become complex and competitive, which will mean survival of the fittest. We must understand that standard growth can be planned for. However, you cannot do that for the exponential progress that the industry is experiencing at the current time. It comes with its own sets of challenges like cost inflation, supply chain risks, capacity burnout, delays, and more. Factoring the industry’s position today, it’s important for every developer to also expand the infrastructure with deeper insight into the global economy. It’s also important to revise contingency in duration and cost during planning to counter any unforeseen deviations.

Looking ahead, what are your hopes for ORO24?

I want to build a truly long-lasting, forward-integrated, and tech-enabled business in the real estate industry. The industry has given me a lot, and I have collected a tremendous amount of experience, which I want to share with my people to help them transform their lives and those of other people.

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