Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
UAE
|
||
 |
||
|
|
zoom
ACI managing director Robin Lohmann likens his fervour for property development to the attitude of Formula One driver Niki Lauda. "We had difficulty entering the Dubai property market and we've faced problems with our first project; Niki Lauda also faced opposition and was badly injured in an accident but he didn't let it stop him," he explains. "He's living life with passion, and so are we.
"If you come to Dubai you have to be a special kind of risk taker, you have to have a goal and be able to continue with it, despite what other people may think. I like it here, I'm a young guy, I'm 32 and a special kind of risk taker but not as crazy as Lauda," he laughs.
While professing to be less fanatical, Lohmann does identify so strongly with the former Formula One great that ACI has teamed with the brand to launch the Niki Lauda Twin Towers in Dubailand.
The Twin Towers hotel project is one of four developments ACI has underway in Dubai, although the company initially came to the Middle East with a different business purpose in mind.
The German father and son investment firm first arrived in Dubai in 2004 after becoming interested in the potential of the Dubai International Financial Centre. Lohmann senior and Lohmann junior, who has a background in investment banking with Goldman Sachs and Merrill Lynch in London, planned to enter the DIFC with a wealth management offering.
The group is already established in Germany in the asset management, structured finance and risk management fields and intended to expand this business into the dynamic UAE market. However, on arrival they quickly identified the investment opportunities of the Dubai property market, and established the ACI real estate group.
The company launched their first fund for Dubai Star, their mixed-use development in Jumeirah Lake Towers, followed soon after by funds for the City of Arabia in Dubailand and Q Sami in the Business Bay. Lohmann says that ACI uses the maxim ‘location, location, location' to guide its US$30m Dubai operations.
"My father says this is the most important thing, a premium location is an absolute must. Our projects in prime locations, including Victory Bay, the City of Arabia and Dubai Star have all sold out quickly." Lohmann is enthusiastic about the future of ACI and Dubai, although he concedes the city is currently suffering teething problems.
"Yes, the infrastructure problems are an issue but you will find that in any city. There is no other city in the world where you will see growth like we are seeing here. The speed in which the Metro is being built is amazing; there is nowhere else where you see a development on such a scale.
"It's hard to believe this has happened over one generation; only 30 years ago, there were camels around the World Trade Centre. Who knows what will happen here by 2015. If the predictions are correct, Dubai will have doubled in size and will be hosting 15 million tourists. We can't wait to see what is going to happen.
"There is a lot of talk about the time delays in construction, but our investors understand this when we explain that 25% of the world's cranes are currently operating in Dubai. I believe when you have development on this scale you have the right to some delays; everything has to happen within a reasonable time frame."
Lohmann believes Dubai is a front-runner in terms of GCC countries attracting international investment. "We are seeing a lot of European investors here now, particularly from the UK and Holland but also Russia, the Far East and America. There are more and more international purchasers. However, with developments now underway in other regions like Qatar, the investment focus could slip from Dubai," he notes. Despite this concern, he is confident that European investors will continue to find the UAE market attractive.
"Europe is an over-regulated market, which is blocking development but in Dubai there is more freedom for development because the market is so young. Rules and regulations are increasing which is protecting purchasers more, and that's a good thing," he continues. "Rules and regulations inject more trust and this is an important thing for investors. It's important that international trust can be improved without disrupting the existing market."
Lohmann feels the single biggest problem facing Dubai is the issue that 75% of property purchases are undertaken by speculators and only 25% by end-users. This had led to infrastructure problems, and inappropriately designed commercial and residential properties. However, he believes this imbalance would correct once Dubai became more attractive for the end-user.
"At the end of the day, this is a special place and as soon as more entertainment, more attractions like the Dubailand Entertainment Park are completed, I truly think we will see the full potential of the city realised."
Posted by Informed Realist, Dubai, UAE on 27 July 2009 at 19:11 UAE time
I don't think I have ever heard Al Fahim described as a role model for the world. You might want to educate yourself a little!
Posted by temur, birmingham, United Kingdom on 17 June 2009 at 15:12 UAE time
dr sulaiyman is a role model for all the world not only muslims his vision will go far, lets just hope we get some more new big signings.
Posted by sherry, shenzhen, China on 16 May 2009 at 20:20 UAE time
Best of luck for everything!
Posted by Kawthar Saeed, Dubai, UAE on 5 January 2009 at 15:47 UAE time
Abdullatif Al Mulla is indeed a great and superb leader! I have worked with him closely in TECOM and learnt from him many good skills of leadership which I am using them in my current role. I wish him all the best in his career and may God grant him success all the time. Abdullatif, as always, you are a great leader for us!
Posted by Layla Al-Ansari, London, UK on 27 October 2008 at 16:50 UAE time
The top 100 CEO's list is highly impressive covering the biggest names from all over the gulf. However, whoever has compiled the list has definitly forgotten some notable movers and shakers in the past decade.
Dr. Abdallah AlDabbagh the CEO of Ma'aden the Saudi Arabian Minning Company has spearheaded the establishment of an entire new industry sector in Saudi Arabia. Not only is this sector viable with it's ambitious projects such as gold, alumina and phosphate projects, it is more importantly sustainable.
I am sure Dr Al-Dabbagh was not the only CEO overlooked in your report. In your next top 100 CEO's report, I suggest you undergo in-depth analysis of the gulf market and the massive changes that REALLY taking place and changing the future.
Posted by Steven on 18 September 2008 at 00:46 UAE time
Mr Al Hashimi is a fine role model for all young people in the world today, I hope that someone of his calibre and experience could help football teams like newcastle united to reach their full potential, the fans from the north-east are the kindest and best supporters in the Uk, and I imagine the people of newcastle would welcome him
Posted by Mohamade Iqbal Oojageer, Port-Louis, Mauritius on 3 September 2008 at 14:14 UAE time
Dr Sulaiman
Congratulations to you as the new big boss of Manchester City. With your massive investments, you will prove to the world, Insha Allah, your vision is gold and City can become the biggest club in the world and new English reference for quality football. I am a seasoned Sports Journalist and I can foresee success and positive revolution in British sports, especially soccer.
Posted by Biniraj, Sharjah, UAE on 29 July 2008 at 12:27 UAE time
It was indeed right decision launching of Air Arabia. I described Air Arabia as REAL AIRLINE. .. i noticed one thing that, they are on time, they are on line, they are on right price, that is what we need.
I am proud to say as a Air Arabian traveller, and I salue Mr. Adel Ali for his visions.
Posted by Ataur Rahman ,Business Development Manager, Dubai, UAE on 10 July 2008 at 20:39 UAE time
An analysis of the the top 100 in GCC reveals a shocking statistic too..63% of them are from UAE, 14% Saudi, 13%Kuwait, 6% Qatar, 4% Bahrain.
More shocking to me is that in Energy sector only there are 4%..in construction 4% Media & Marketing, 4% Politics & Economic 4% Banking & Finance 20% Real estate 23%
Why inspite of all the boom in petrol price there are just 4% of them belongs to this sector. I demand an explanation.
Posted by john, New York, US on 25 May 2008 at 16:48 UAE time
Dubai's real estate watchdog on Sunday launched its own magazine in an effort to address investor concerns over a lack of transparency in the market.
Posted by Mr George Osei, accra, Ghana on 11 May 2008 at 17:29 UAE time
Dear Friend,
My name is Mr. George Osei,I work with a Bank as a manager, in one of the commercial banks in Accra-Ghana west Africa. I have packaged a transaction that will be of mutual benefit to us. As the branch manager of the Bank Ghana, it is my duty to send a financial report to my head office in the capital city, Accra, at the end of each financial year.Following the release of the second quarter financial report, ending June 2007, I discovered that my branch made a substantial profit which accrued from the account of the Inland Revenue Service (IRS).
This was not detected by the internal auditors from my head office. I have diverted the funds into what the bank call Escrow Call Account with no beneficiary. Meanwhile as you know I can not be directly connected to this money for obvious reasons. So my contacting you is for you to assist me receive this fund in your country which I know is possible if you liaise properly with me and get a consideration share of the total funds as your benefit.
The transfer would be a Bank-to-Bank transaction. All I need from you is to stand claim as the original depositor of this fund. I will compute your particulars as the person who made the deposit in my branch into our computer data base, so that my head office will immediately order the transfer to your designated bank Account. Thanks for your understanding and co-operation. Please you can indicate your interest by sending me a return mail. While I implore you to maintain the absolute secrecy and confidentiality required in this transaction I am waiting for your positive response.
Yours truly,
Mr.George Osei
Show all comments
Posted by stuart mayhead, Abu Dhabi, UAE on 21 April 2008 at 09:21 UAE time
Hi Len if you visit www.artinthecity.com you will find and Art Map of Abu Dhabi, Dubai and Sharjah which shows all the local galleries and has a calendar of events noting all the exhibitions. If you sign up for them you will receive fortnightly reminders.
Posted by len on 20 April 2008 at 14:15 UAE time
I'm looking for modern art galleries in your country. Can you help me with a list?
Editor's Reply Kindly visit www.timeoutdubai.com for a full list of art galleries in Dubai, or www.timeoutabudhabi.com for a full list in the capital.
Posted by Nabil Alwakidi, jeddah, KSA on 13 April 2008 at 10:24 UAE time
Dear Abdulkareem,
Perfect person on the right place, very difficult to find some one like you. this comment will show you how much we like your job.
Best of luck for everything!
Cheers,
Nabil Alwakidi
Posted by shahla naim, AbuDhabi, U.A.E on 19 March 2008 at 11:18 UAE time
Success, from my point of view is 10%luck, 40%study, 50% hard work. Upon reading this article, I think am still at the first 10%.
Posted by Nasrin Quraishi, Chennai, India on 5 March 2008 at 15:03 UAE time
Good Evening,
I am very happy and proud that I am living in this world where HRH Mr.Abdullah Al Awadi is living. I pray Almighty God to work under him atleast for a year.
Thank you
Posted by Safwat Faroun, Ramallah, Palestine on 13 February 2008 at 19:20 UAE time
I am currently residing in the west bank, and I am looking for jobs. Your Arabbusiness could be of indispensable value to me. Keep up the good work!
Posted by Jehad M. Shaban, Kuwait, Kuwait on 9 December 2007 at 15:57 UAE time
As per your Arabic article of the top 100's CEO's in the GCC, would you kindly correct Mr.Abdullah Al Awadi's name in Arabic to: عبد الله العوضي and the company name to: Al-Ahlia Holding Company. Thank you.
Posted by Nand, Riyadh, Saudi Arabia on 9 December 2007 at 11:41 UAE time
Wonder what standing Saudi ARAMCO has? Is it not among the most admired companies in the GCC?
Posted by Prabal Rai, kathmandu, nepal on 6 December 2007 at 12:07 UAE time
Dear Sir,
How possibly I can contact direct to Amir Alwalid Bin Talal for my own personal plea concerning my occupational hazzards in compny own by him? Please guide me in this regards.
Yours truly
Prabal Rai
Kathmandu Nepal
Posted by Ibrahim, Abu Dhabi, UAE on 6 December 2007 at 09:43 UAE time
I've worked in the oilfield since 1989, mostly in the UAE but also all over the MENA region, and this is the first time I've heard of this company (SS Lootah). What about Al-Dulaimi group (Qatar) or Mohammed Barwani (Oman) or AlMansoori (UAE)? I wonder what the definition of "Energy Industry" is? I suspect the people who selected the winners don't understand how our industry works.
Posted by Omair bin Zahid Al Husain on 5 December 2007 at 22:07 UAE time
It is interesting information. Being an entrepreneur myself, I don't mind knowing who could be of advantage to me and where I can find products and/or services I need. I wonder what was the criteria for selection though, but a wiseman said that the modern day winner in the corporate world is the one who could "learn, unlearn and relearn!" Keep us up to date Arabian Business.com. Thank you very much.
Posted by Nikhil Sindhu on 5 December 2007 at 19:03 UAE time
Thank you Anil for the insight about an extraordinary person.
Posted by Faris AlQURESHI, Riyadh, Saudi Arabia on 5 December 2007 at 12:53 UAE time
Dear Anil,
The best best interview for the most admiring and decent personality.
Best of luck for everything!
Cheers,
Faris
Posted by Prof Philbert, Salmiya/ Kuwait, Kuwait on 5 December 2007 at 10:57 UAE time
If the company is going to achieve something of some recognition, they must follow three I's - Innovation, Infrastructure and Integration.
Innovation is importnat to give the company an ability to extend the product and service life cycle from point of stagnation to new thinking - a sort of sigmooid curve that repeats itself - saying in simple words - an old wine in a new bottle.
Infrastructure for aiding innocation is another key dimension that can add value to corporate growth. A CEO must take a balaced scorecard to organizational development.
Integration is keeping all elements of the orgnization togehter and take a unified approach to the big picture.
Mobile
