At just 32-years-old Rashid Galadari is head of a multi-million dollar real estate empire with plans to bring new levels of luxury to the region's property market. Diana Milne meets Galadari and finds out what makes him tick.
I was hoping that my job was going to be like a politician and I was just going to be photographed kissing babies in public," says Rashid Galadari, whose job at the helm of the Galvest holding group, parent company of Galadari Investment Office hasn't quite turned out like that.
For us it's very simple. We're not in the hit and run business. Our properties speak for themselves.
As the son of the late Abdul Wahab head of the multimillion dollar Galadari Group, the 32-year-old had a tough act to follow.
"Sometimes it does get to you a bit. I won't lie," says Galadari.
"It's not just because of the family background but it's the fact that it was my choice to say I'm going to take the lead. I'm going to be the chairman of the company."
Rashid made the decision to set up his own branch of the family business after graduating from university.
And so far the bargain has paid off. Today GIO, which was set up in 2005 at the same time as Galvest, boasts a vast portfolio of luxury properties and he reveals, it could be considering becoming the latest Arab company to launch an IPO.
"We've discussed it. The company is still young, it's still small. Hopefully I think at one stage we would probably look at it. It's not something that is completely not in our heads," he says adding that this probably would not happen in the next 12 months.
It has been a busy few months for Galadari following the launch last month of GIO Emporium - two towers, one commercial the other residential within the City of Arabia development.
Celebrated French designer Philippe Starck has designed the interiors for the residential G Tower while his interior design firm yoo@work designed the interiors of the G Office development.
Alternative Capital Invest (ACI) is one of Germany's most established asset management firms. The group founded the Dubai-based ACI Real Estate in 2004. Amy Glass meets managing director Robin Lohmann to discuss Dubai opportunities and his firm's mantra: location, location, location.
Amy Glass, Tuesday, 20 November 2007, ArabianBusiness/Interviews
ACI Real Estate has launched the Niki Lauda Twin Towers at Business Bay in Dubai. Due for completion in 2010, the towers will contain only office space and they will have 29 and 26 storeys respectively.
ArabianBusiness.com staff writer , Saturday, 08 December 2007, ArabianBusiness/News
ACI Real Estate, an affiliate of Alternative Capital Investments, yesterday launched the US $272 million (AED 1 billion) Michael Schumacher Business Avenue, a 29-storey business tower located in Dubai's Business Bay.
ArabianBusiness.com staff writer , Saturday, 02 February 2008, ArabianBusiness/News
Korean company, Shinsung, has won two contracts worth a total of US $408 million (AED1.5 billion) for the construction of German developer ACI Real Estate's Boris Becker Business Tower and Michael Schumacher Business Avenue in Business Bay.
As if we need a reminder, things are a bit tough in the financial world. The flood of easy credit that financed the construction boom through the pockets of developers and investors has slowed to a trickle as the global credit crunch has tightened its grip.
Rob Wagner, Saturday, 13 December 2008, ArabianBusiness/Comment