Interview With Ahmed M. Alhatti, The Man Behind Cayan Tower By The Lux 27 Team
Since the beginning of the year Dubai’s real estate market has shown significant signs of bouncing back, following the 2008/9 bust. In fact, the Emirate emerged as a top global performer according to a recent study by Knight Frank, a global real estate consultancy. The report ranked Dubai as fourth among a selection of 29 international cities that indicated the highest increases in real estate prices throughout 2012.
One of the newest landmark developments to join Dubai’s skyline is the new Cayan Tower, locally known as the “twisty building” and developed by Cayan Group. The imminent launch of the 306 metre (1,004 ft) tall 80 storey tower in Dubai Marina this summer is sure to attract worldwide attention as it becomes the world’s tallest high rise building with a twist of 90˚, creating the shape of a helix.
With this in mind, we asked Ahmed M. Al Hatti, President and Chairman of the board at Cayan Group what inspires his passion for a project, what he thinks
about the real estate comeback, whether he predicts sustainable growth in the future, and what other projects he will be developing into 2014.
What makes you passionate about being the CEO of one of the region’s leading real estate developers?
Cayan is the result of a personal interest I had in real estate, I was trying to find a project to invest in myself, in Dubai, and as my curiosity and knowledge of the sector increased I decided to pursue this as my career. I have achieved a lot over the last 10 years and this makes me more passionate to continue creating more challenging landmark projects in the future, here and across the region.
You have developed several residential projects in Dubai and across the region, what do you think is now important to potential buyers?
It’s simple, uniqueness and great customer service is what every buyer looks for in a new investment opportunity and this is what we strive for at Cayan Group, whether our customers are buying a home or a pure investment.
For those considering buying what advice would you give about choosing the right investment?
If we are talking about the GCC then I would recommend that Saudi Arabia is the best choice, there is strong demand and a very strong economy which will yield healthy returns. The UAE is also a great investment and we are seeing signs of sustainable growth in both markets. There are also good opportunities in other GCC countries such as Abu Dhabi, Bahrain and Qatar.
What do you see being the future for real estate in GCC in the next 5-10 years?
With so many high profile events coming to the Middle East in the next 5-10 years there’s a great opportunity to generate healthy returns if you invest now. The World Cup, the 2020 Expo and the economic growth in Saudi Arabia – real estate has a very strong and healthy future ahead.
What is yet to come from Cayan Group as we approach 2014?
The reputation of Cayan Group properties in the UAE is what inspires me to conquer other countries in the GCC and to let them see for themselves the quality and attention to detail that goes into each one of our developments. Today, in Riyadh, we are working on a number of different projects and we will be in a position to announce these soon.