Middle East's 10 Most Impactful Leaders in Real Estate

VOL: 03 ISSUE: 02 2024 Architec?ng Tomorrow's Infrastructure Landscape

, , , , Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful. - Albert Schweitzer

Editor’s Note rom the moment we step out of our homes to the Real estate leadership demands a nuanced understanding of places where we work, shop, and socialize, real the complexities and nuances inherent in managing this F estate surrounds us. Its ubiquity is matched only by ubiquitous and indispensable asset. By adhering to its significance, often representing the largest or second- fundamental maxims such as prioritizing location, largest asset on the books of businesses worldwide. Yet, conducting due diligence, cultivating sustainability, and despite its omnipresence, real estate management remains a embracing stakeholder engagement, leaders can navigate complex and multifaceted challenge, affecting stakeholders the challenges and opportunities of the real estate sector ranging from customers and employees to investors and effectively. Highlighting such real estate leaders, The CIO Don't wait to “ regulators. World brings forth ‘Middle East's 10 Most Impactful Leaders in Real Estate’who, with their strategic vision, buy real estate. As leaders in the real estate industry, whether serving on the prudent decision-making, and commitment to excellence, board or in executive positions, it's crucial to acknowledge are charting a course towards success and resilience in an the significant role that real estate plays in shaping the ever-growing world. Buy real estate “ success and sustainability of our organizations. Real estate investments are typically long-term, necessitating a Have a great read ahead! and wait. forward-thinking mindset and a long-term vision. However, this vision must be balanced with adaptability and agility to - Will Rogers effectively respond to transforming market dynamics and Alaya Brown emerging trends. Embracing innovation, adopting new technologies, and staying informed about changing consumer preferences are essential for staying competitive in the industry.

Cover Story Fahad Almesr Architecting Tomorrow's 08 Infrastructure Landscape Profiles CO Adriana Usvat A Prodigy for Crafting 18 Unforgettable Experiences Ahmed Ehab Enhancing the Accessibility of Luxury Living 30 NT CXO Dr. J. Ajit Thomas Decode, Reect, Evolve: Lessons in 24 Technology and Life EN Articles Bitcoin and Real Estate! The Perfect Investment 26 Partnership? TS The Unseen Crisis! How Unemployment is 34 Fueling a Real Estate Time Bomb

Company Name Featuring Descrip?on Adriana, a first-genera?on entrepreneur, leverages 18+ years of Adriana Usvat Bali Villas R Us global experience to boost FMCG, Fashion, and Lifestyle brands' www.balivillasrus.com Partner & Director market share through Integrated Marke?ng Solu?ons. Ahmed Ehab, with diverse experience in planning, cost control, MADAAR and project management. From Planning Engineer to CEO at Ahmed Ehab www.madaar.com Madaar, excelling in roles at various companies with exper?se CEO in construc?on and development. Ayman, CEO at El Mansour Development, with over 20 years in Editor-in-Chief Chidiebere Moses El Mansour real estate, leads innova?ve projects across Cairo Governorate. Ayman Mansour Development Deputy Editor Sam Carter Renowned for quality, flexibility, and customer sa?sfac?on, CEO www.elmansour.com.eg shaping Cairo's skyline. Managing Editor Alaya Brown Assistant Editor Maria Evans Saudi Real Estate With a robust skill set that includes Telecommunica?ons, IT Infrastructure Company, Service Management, ITIL, Cloud Compu?ng, Data Center and Fahad Almesfir Visualizer Chris Carter BINYAH more, Fahad Almesfir contributes valuable insights to the CEO www.binyah.com.sa industry. Art & Design Head Millie Simon Art & Design Assitant Judy Smith Gautam Sashi?al, CEO of KAFD DMC since 2021, boasts a diverse career spanning private and public sectors. With Gautam Sashi?al KAFD | ﺪﻓﺎ? Business Development Manager Phoebe Jacob exper?se in oil and gas, real estate, free zones, trade CEO www.kafd.sa facilita?on, and healthcare. Business Development Executives Aisha, Olivia Technical Head David Walker The Chief Execu?ve Officer of Na?onal Housing Company is Na?onal Housing Muhammad Albuty. He held the posi?on of Director of Mohammad Albuty Company (NHC) Assitant Technical Head Mia Rodricks Informa?on Technology at the Saudi Arabian Army's Royal CEO www.nhc.sa Embassy. Helena Smith Digital Marketing Manager Research Analyst Eric Smith Mostafa Kady, CEO of Emaar Misr, a leading property Emaar Misr Mostafa Kady developer in Egypt, has transformed lifestyles since 1997 by Circulation Manager Richard Martinez www.emaarmisr.com CEO developing pres?gious communi?es in premium des?na?ons. With a strong background in business and finance, Sameh Al Sameh Muhtadi RAK Proper?es Muhtadi has been instrumental in driving the company's CEO www.rakproper?es.ae growth and success. Follow us on www.facebook.com/thecioworld Merex Investment Shahram, with vast exper?se in mixed-use greenfield www.twitter.com/thecioworld Group Shahram Shamsaee development and redevelopment, excels in investment www.merexinvestment. CEO We are also available on management, retail design, leasing, and opera?onal func?ons. com RNI No.: MAHENG/2018/75953 Sherif, CEO of Kuwadico Developments, is a prominent figure Sherif Gabr Kuwadico in the regional real estate market, known for providing Copyright © 2024 The CIO World, All rights reserved. The content and images used in this magazine CEO www.kuwadico.com innova?on, quality, and customer sa?sfac?on in luxury should not be reproduced or transmitted in any form or by any means, electronic, mechanical, housing, hotels, and commercial projects. photocopying, recording or otherwise, without prior permission from The CIO World. Reprint rights remain solely with The CIO World.

C O V E R S T O R Y Architec?ng Tomorrow's Infrastructure Landscape I have always been fascinated Fahad Almesfir by the immense potential of CEO infrastructure to shape Saudi Real Estate Infrastructure communities, drive economic Company (BINYAH) growth, and improve the quality of life for citizens. The opportunity to play an instrumental role in the design, construction, and execution of infrastructure projects that have a lasting impact drives my passion for this sector.

Pioneering Modern Engineering for Progress, BINYAH Guiding Principles Development, and Sustainable Futures! In discussing BINYAH, Fahad highlighted that the Saudi Fahad articulates the organization's commitment to one are the days when engineering was confined to company, established in early 2017, is headquartered in delivering world-class infrastructure projects through the mere construction of physical structures. In the Riyadh, the capital of the Kingdom of Saudi Arabia. This innovation and cost-effective, high-quality services. The G 21st century, the blueprint of progress extends joint venture is a collaboration between two prominent core mission is aligned with stakeholders' vision to beyond bricks and mortar. Today's engineers are crafting entities: the Saudi Real Estate Company and the establish BINYAH as a top contractor's brand and solutions that not only meet current needs but also Mohammed Al-Ali Al-Swailem Company for Trading and contribute to the country's Vision 2030. anticipate the challenges of tomorrow. From smart cities to Construction (MASCO). sustainable energy systems, the visionaries in modern Under his leadership, the company adheres to core values: engineering are architects of change, laying the foundation The Saudi Real Estate Company, a key player listed on the for a more resilient and interconnected world. Saudi Stock Exchange and primarily owned by the Public • Commitment: BINYAH is dedicated to achieving Investment Fund of Saudi Arabia (PIF), holds a 60% share excellence in all endeavors, surpassing stakeholder Fahad is at the helm of a contracting powerhouse in BINYAH. This significant stake brings considerable expectations through exceptional solutions and specializing in modern engineering for infrastructure expertise in development and real estate investment to the services. projects. As the CEO of the Saudi Real Estate partnership. Infrastructure Company, BINYAH. His passion for • Quality: A strong emphasis on quality permeates all pushing the boundaries of what is possible in contemporary Conversely, MASCO, a renowned construction company operations, ensuring infrastructure projects meet or engineering is evident in the company's core specializing in infrastructure projects, possesses a 40% exceed industry best practices. focus—delivering cutting-edge infrastructure projects that share of BINYAH. Drawing on its extensive experience in catalyze progress and development. constructing robust infrastructure, MASCO contributes • Health & Safety: Prioritizing the well-being of valuable knowledge and capabilities to the joint venture. employees, partners, and communities, BINYAH Fahad's fascination with the potential of infrastructure to implements robust safety measures and fosters a shape communities, drive economic growth, and enhance The collaboration between these influential entities signifies culture of safety. the quality of life for citizens has been a lifelong a strategic alliance aimed at leveraging their respective motivation. At BINYAH, he sees the opportunity to play a strengths and resources. BINYAH's establishment • Sustainability: Acknowledging the importance of pivotal role in designing, constructing, and executing underscores a commitment to advancing Saudi Arabia's real sustainable development, BINYAH integrates eco- projects that leave a lasting impact on Saudi Arabia's estate and infrastructure sectors. friendly practices into projects to minimize the evolving landscape. ecological footprint and contribute to community well- Since its inception, BINYAH has been dedicated to driving being. Aligned with Saudi Arabia's ambitious Vision 2030, Fahad innovation and excellence in real estate infrastructure. The effective, and high-quality services. The company's and the BINYAH team are dedicated to contributing to the company aims to play a pivotal role in shaping the future of • Teamwork: Collaboration and teamwork are deployment of cutting-edge solutions and advanced nation's economic diversification, infrastructure Saudi Arabia's built environment through transformative fundamental to success, fostering a culture of open technologies underscores its commitment to crafting enhancement, and sustainable development. By leveraging and sustainable projects. communication, mutual respect, and cooperation to infrastructure that not only meets but exceeds the demands modern engineering expertise and innovative construction leverage diverse skills and expertise. of a modern and burgeoning economy. methodologies, BINYAH is actively playing a role in By combining the expertise of the Saudi Real Estate realizing the goals set forth by Vision 2030. Company and MASCO, BINYAH is well-positioned to These core values guide Fahad's leadership in shaping Moreover, BINYAH's unrelenting dedication to quality is a deliver high-quality infrastructure developments meeting strategic decisions, influencing actions, and ensuring game-changer. By adhering to the highest standards, the BINYAH's specialization in modern engineering enables the the evolving needs of the Kingdom. Through a alignment with the mission and vision. He strives to lead by company not only elevates the quality of life for Saudi company to embrace the latest technologies, materials, and collaborative approach, cutting-edge technologies, and a example, promoting a culture of integrity, continuous citizens but also attracts substantial domestic and techniques in its projects. Fahad's commitment to staying at focus on sustainability, BINYAH strives to contribute to the improvement, and a relentless pursuit of excellence. international investments. This, in turn, acts as a catalyst for the forefront of industry advancements and pushing the growth and development of Saudi Arabia's real estate and economic growth, enhancing the nation's competitive edge boundaries of infrastructure development reflects his belief infrastructure sectors. Impactful Leadership on the global stage. that innovation and sustainability are key to meeting the needs of today and anticipating the challenges of tomorrow. The establishment of BINYAH represents a significant In detailing his involvement in transformative projects, The third pillar of BINYAH's impact lies in its prioritization milestone in the Saudi Arabian business landscape, bringing Fahad underscores the pivotal role BINYAH plays in of health and safety. Through stringent safety measures and Fahad Almesfir draws inspiration from the transformative together two leading companies with a shared vision of shaping Saudi Arabia's infrastructure. Positioned at the a culture embedded in well-being, BINYAH sets an power of infrastructure. His dedication to leading BINYAH advancing the nation's infrastructure and real estate forefront of the industry, BINYAH stands as a driving force exemplary standard for the industry, contributing in delivering exceptional projects stems from a desire to development. With its strong foundation and commitment behind the realization of Vision 2030, actively contributing significantly to the enhancement of safety protocols in the positively impact communities, foster economic growth, to excellence, BINYAH is poised to make a lasting impact to the nation's evolution into a dynamic and diversified infrastructure development sector. and contribute to shaping a better future for Saudi Arabia. on the Kingdom's built environment, contributing to its economic powerhouse. overall economic growth and prosperity. Furthermore, BINYAH's forward-looking emphasis on Let us delve into his journey: First and foremost, BINYAH's mission harmonizes sustainability aligns seamlessly with the prevailing global seamlessly with Vision 2030, emphasizing the delivery of trend towards environmentally conscious and socially world-class infrastructure through innovative, cost- responsible infrastructure development. By seamlessly

integrating sustainable practices into its projects, BINYAH not only champions environmental preservation but also minimizes resource consumption, fostering long-term sustainability. I am inspired by the Lastly, BINYAH's collaborative approach to teamwork transformative power of serves as a linchpin, fostering synergies among various stakeholders, including government bodies, private sector infrastructure and the partners, and local communities. This concerted effort opportunity to contribute to allows BINYAH to harness the collective expertise and the growth and development resources of diverse stakeholders, ensuring the delivery of infrastructure projects that cater comprehensively to the of Saudi Arabia. Our focus evolving needs of Saudi Arabia's burgeoning population on modern engineering, and economy. commitment to innovation, Leadership in Iconic Construction Projects and alignment with Vision 2030's objectives drive my Under his leadership, the company has successfully executed several iconic and sophisticated projects, motivation to create showcasing a commitment to excellence and innovation. infrastructure works that Notable examples include: propel the nation forward. Diriyah Gate Company Limited (DGCL): • Wadi Safar Golf Course Early Works • Wadi Hanifah Spine Infrastructure Works In addition to this, BINYAH is dedicated and committed to • Northern Cultural District Underground Smart Parking building stronger relationships with its clients and actively • Diriyah Gate (DGII) Enabling Works and continuously participating in bidding for new projects • Wadi Hanifah Sports Boulevard South and P2 Section and opportunities. It strives to foster long-term partnerships Works based on trust, professionalism, and the successful delivery of projects. Misk City Company: • Vehicle Access Tunnel, Bridge, Associated Utilities, and sophisticated projects that shape the future of Saudi • Effective Communication: BINYAH emphasizes clear Furthermore, BINYAH has worked with other notable and Earthworks Arabia. and open communication with clients throughout the clients and successfully delivered projects for them. These • Phase 1 Site-Wide Infrastructure project lifecycle. This involves actively listening to clients include: • Boulevard Road Works Client-Centric Strategies in Construction and client concerns, clarifying expectations, and providing • Early Works of Wadi C, Studio, Gallery, Forum Infrastructure regular updates on project progress. Effective • Saudi Entertainment Ventures (SEVEN): BINYAH has Offices, Al Mishrak, Arts Institute, Mobility communication ensures alignment with client needs, collaborated with SEVEN on various projects, In discussing the company's approach, Fahad highlights enabling BINYAH to make necessary adjustments or contributing to the development of entertainment and Red Sea Global: how BINYAH employs a range of strategies to tailor provide timely updates. leisure destinations in Saudi Arabia. • R12 Coastal and Inland Roads with Wadi Protection deliverables to the individualized needs of clients in the • Amaala Triple Bay Early Works construction and infrastructure works sectors. The strategies • Customization: Recognizing the unique requirements • Al Widyan Real Estate Company: BINYAH has • Regional Infrastructure Triple Bay North Interchange encompass a focus on understanding client requirements, and constraints of each project, BINYAH employs a worked closely with Al Widyan Real Estate Company, Highways and Civil Package effective communication, customization, and continuous customization approach to develop deliverables that delivering projects that contribute to the development feedback loops. The key strategies include: address specific client needs. This may involve of the Al Widyan community. Qiddiya Investment Company (QIC): modifying designs, materials, construction techniques, • Resort Core Bulk Utilities Pkg 4 • Needs Assessment: BINYAH conducts a thorough or project schedules to accommodate preferences, Lastly, BINYAH is actively pursuing new relationships with • Resort Core District Primary and Secondary Roads, needs assessment by engaging with clients to budgets, timelines, or local regulations. clients whose projects align with the mission of Vision Bridges, and Utilities Networks Package 03 and comprehend their specific requirements, goals, and 2030. They seek opportunities to contribute to the Package 07 expectations for construction and infrastructure • Agile Methodology: BINYAH utilizes agile project transformation and diversification of the Saudi Arabian projects. This involves meetings, interviews, site visits, management methodologies to provide flexibility and economy, supporting the goals and aspirations outlined in New Murabaa Development Company (NMDC): and analyzing existing project documentation. This responsiveness to client needs. Breaking down projects Vision 2030. • Hoarding and fencing work deep understanding allows BINYAH to develop into smaller phases or milestones allows BINYAH to • Branded Hoarding gather feedback from clients at regular intervals, tailored solutions aligned with each client's project Through its commitment to excellence, innovation, and • Design and Construction of Sitewide Offices objectives. ensuring that the final deliverables meet evolving client fostering strong client relationships, BINYAH remains at needs and allowing for course corrections during the forefront of the construction industry, delivering iconic project execution.

Middle East's 10 Most Impac?ul Leaders in Real Estate • Social Development: BINYAH's infrastructure projects upskilling its workforce, ensuring they possess the positively impact society by enhancing the quality of necessary expertise and knowledge to tackle complex life for Saudi citizens. Developments in public projects and deliver superior outcomes. By nurturing talent transportation systems and urban infrastructure and empowering employees, BINYAH aims to build a improve mobility, reduce congestion, and enhance strong and dynamic team that actively contributes to the access to essential services. BINYAH's commitment to company's growth and success. health and safety further contributes to the overall social development of the country. Acclaimed Excellence • Sustainable Development: BINYAH's focus on Fahad proudly displays BINYAH's extensive collection of sustainability encourages environmentally friendly awards and testimonials, which demonstrate the company's practices in infrastructure development. Integration of unrelenting commitment to excellence. The numerous sustainable solutions, such as renewable energy accolades received from clients and external awarding sources, energy efficiency measures, and sustainable bodies demonstrate BINYAH's dedication to delivering design principles, supports Saudi Arabia's sustainable exceptional results. The following noteworthy awards attest development goals and mitigates the environmental to the company's accomplishments: impact of infrastructure projects. BINYAH's contributions to the advancement of the Saudi • Health and Safety Excellence: BINYAH has completed • Continuous Feedback Loops: BINYAH actively seeks employment opportunities for both skilled and millions of safe man-hours during construction, Arabian economy encompass a broad spectrum, ranging client feedback throughout the project lifecycle. This unskilled workers. This not only addresses prioritizing workforce well-being and ensuring a secure from job creation and economic growth to diversification, feedback helps identify areas for improvement, validate unemployment concerns but also positively impacts the environment. enhanced competitiveness, knowledge transfer, social project progress, and ensure client satisfaction. Regular socio-economic well-being of the Saudi population. development, and sustainable practices. progress meetings, site inspections, or digital • Completion Certificate: Recognition of project collaboration tools are employed to gather input, • Economic Growth: BINYAH's infrastructure initiatives Vision for Growth and Innovation completion underscores BINYAH's dedication to ensuring that the outcome exceeds client expectations. act as catalysts for economic growth by attracting both delivering quality outcomes within specified timelines. domestic and foreign investments. The development of Fahad expressed the company's ambitious vision to elevate • Post-delivery Support: Recognizing that client needs modern infrastructure creates a conducive environment BINYAH to new heights, aspiring to secure a prominent • Certificate of Appreciation: BINYAH has received may extend beyond project completion, BINYAH for businesses to flourish, resulting in heightened position among the top three construction firms in the certificates of appreciation from clients, acknowledging provides post-delivery support and maintenance productivity, increased trade, and expanded investment Kingdom of Saudi Arabia. While maintaining a current exceptional performance, professionalism, and services to address additional requirements, resolve prospects. focus on contributing to the development goals of Vision significant contributions to their projects. issues, or accommodate changes. This ongoing support 2030, the company acknowledges the potential for future contributes to maintaining client satisfaction and • Diversification: BINYAH's commitment to delivering regional and international expansion. However, BINYAH • Client Satisfaction Rating and KPI: Outstanding ratings building long-term relationships. top-tier infrastructure aligns with the objectives of remains steadfast in continually assessing opportunities for and key performance indicators reflect BINYAH's Saudi Arabia's Vision 2030, focusing on diversifying service extension within the Kingdom of Saudi Arabia. commitment to exceeding client expectations and By implementing these strategies, BINYAH aims to deliver the economy beyond oil. Investments in critical sectors ensuring satisfaction. customized construction and infrastructure solutions that such as transportation, energy, and urban development In addition to a commitment to core expertise in meet the unique needs of each client. Prioritizing effective aid in reducing dependence on oil revenues. infrastructure work, BINYAH recognizes the significance of • Great Place to Work: BINYAH is recognized as a great communication, collaboration, and a client-centric approach innovation and adaptation. The company pledges to actively place to work, showcasing the company's commitment ensures successful outcomes and client satisfaction in • Enhanced Competitiveness: The high-quality explore new concepts, business models, and products to to fostering a positive and inclusive work culture that construction and infrastructure work. BINYAH understands infrastructure developed by BINYAH enhances Saudi enhance project delivery and maintain a leading position in values employee well-being and professional the importance of tailoring deliverables to meet the specific Arabia's global competitiveness. Well-designed the industry. development. requirements and objectives of each client, striving to build transportation networks, modern airports, advanced strong partnerships, foster trust, and deliver projects that utilities, and sustainable cities attract businesses and Understanding the importance of staying at the forefront of • Classification Certificate from MOMRA: BINYAH has exceed client expectations. multinational corporations, making the country more technological advancements and industry trends, BINYAH obtained a classification certificate from the Ministry of appealing for investment and trade. plans to make significant investments in research and Municipal and Rural Affairs (MOMRA), affirming Multi-faceted Contributions to Saudi Arabia's development. This strategic initiative aims to enhance compliance with regulatory standards and the Economic Advancement • Knowledge Transfer and Technology Adoption: capabilities and provide cutting-edge solutions to clients, capability to execute projects effectively and BINYAH's emphasis on innovation and technology with a focus on embracing digitalization, automation, and responsibly. Fahad illustrates BINYAH's diverse contributions to the promotes the adoption of advanced construction sustainability practices as key priorities in evolving advancement of the Saudi economy through several key methods in Saudi Arabia. Through leveraging cutting- operations and project delivery methods. These awards and testimonials collectively affirm channels: edge technologies, BINYAH facilitates knowledge BINYAH's unrelenting commitment to excellence, safety, transfer, strengthens local capabilities, and contributes Furthermore, BINYAH is dedicated to fostering a culture of client satisfaction, and the creation of a positive work • Job Creation: Through the execution of expansive to the development of a skilled workforce in the continuous learning and development within the environment. The company takes pride in these infrastructure projects, BINYAH generates construction and infrastructure sectors. organization. The company plans to invest in training and recognitions and remains dedicated to delivering exceptional results in all endeavors.

As the CEO of Saudi Real Estate Infrastructure Company, I am honored to lead a contracting company that specializes in the modern engineering of infrastructure works. Our advantage lies in our unwavering commitment to excellence, innovation, and sustainable practices. We embrace the latest technologies, materials, and construction methodologies to deliver cutting-edge infrastructure projects that drive progress and development. Our focus on modern engineering allows us to push the boundaries of what is possible, ensuring that our projects not only meet the highest quality standards but also anticipate the ever-evolving needs of the Kingdom. We are deeply aligned with the Vision 2030 of the Kingdom of Saudi Arabia. Our commitment to supporting this transformative roadmap is unwavering. By delivering exceptional infrastructure projects, we actively contribute to the diversication of the economy, the enhancement of infrastructure quality, and the promotion of sustainable development. Through our work, we support the Kingdom's objectives of attracting investments, fostering economic growth, creating job opportunities, and improving the quality of life for its citizens. We understand the importance of infrastructure as the backbone of a thriving economy, and we are dedicated to playing a vital role in building the foundation for a prosperous future. Moreover, we recognize the signicance of sustainable practices in building a greener and more resilient nation. We integrate innovative solutions and environmentally friendly approaches into our projects, ensuring that we contribute to the Kingdom's sustainability goals while providing long-term benets to current and future generations. I am driven by the transformative power of infrastructure and the opportunity to contribute to the growth and development of the Kingdom of Saudi Arabia. Our advantage lies in our commitment to excellence, innovation, and sustainable practices. We are resolute in our dedication to supporting Vision 2030 and its objectives, and we look forward to continuing our journey of delivering exceptional infrastructure works that shape a brighter future for the Kingdom. Thank you!

Middle East's 10 Most Impac?ul Leaders in Real Estate Adriana A Prodigy for Cra?ing Unforge?able Experiences Usvat A Journey Towards Second Homes and Lucrative Can you please brief us about your company and its Investments in the Heart of Hospitality! inception story? an you turn a passion for real estate into an As a premier player in the property management and unforgettable experience? Adriana Usvat not only marketing sector, our company is deeply invested in C answers this question but exemplifies it through her offering a full spectrum of services encompassing property entrepreneurial journey. Her entrepreneurial journey began consulting, management, and marketing. in Dubai's thriving cityscape, where she established FLC Group. This company, a major force in integrated What sets us apart is our commitment to creating marketing, helped Adriana gain prominence in Gulf and the personalized guest experiences. Our team is the cornerstone for investors and property owners who are in pursuit of the India Cooperation Council. However, motivated by her ultimate villa for investment, complemented by flawless inherent desire for new experiences and enchanted by Bali's rental management services. For our guests, the goal is charm, she set her sights on the paradise that is Indonesia. simple yet ambitious: provide exceptional holiday accommodations that aren't just places to stay, but spaces While she continues to maintain her previous role, her where memorable moments are born and cherished for career became even more enriching and exciting upon years to come. becoming Partner & Director at Bali Villas R Us in 2014. She discovered more than simply a business opportunity; she realized a mission to create sanctuaries that go above What inspired you to pursue a leadership role in real and beyond the ordinary. estate, and how do you envision the industry evolving in the coming years? Under her influence, Bali Villas R Us has grown with a mission: to provide guests with a second home while My fascination with real estate began in childhood, simultaneously providing investors with opportunities for particularly with villas, and was further shaped by my both financial success and personal fulfillment. strong foundation in marketing. This unique combination took me on this path. Bali Villas R Us has been a pivotal Besides the conventional boundaries of real estate, inspiration, driving my ambition to convert properties into Adriana's vision unfolds as a narrative of breathing life, sanctuaries that not only offer extraordinary experiences but Adriana Usvat meaning, and soul into spaces. Her commitment extends also personal well-being for our guests. Partner & Director beyond the physical structure; it embraces the profound act Bali Villas R Us of creating enduring memories. At the foundation of her Looking towards the future, my vision for the real estate journey is a mission that resonates with human industry is both innovative and guest-focused. I envision an emotions—the desire to seamlessly blend comfort with the industry that prioritizes continuous innovation and centers exhilaration of exploration. around the customer. Below are the interview highlights: The future I see is one where technology seamlessly enhances the real estate journey, sustainability is at the 18 19 March, 2024 www.thecioworld.com March, 2024 www.thecioworld.com

By participating in industry forums and advocacy groups, on investments, acquisitions, and our overall business we joined forces with peers to advocate for changes that expansion, ensuring our actions are in harmony with the would ensure a more open and fair real estate market. current market environment and future expectations. Through these efforts, we contributed to shaping a better environment for everyone involved. What strategies do you employ to build and maintain strong relationships with clients, stakeholders, and What values or principles guide your decision-making industry partners in the real estate sector? process when it comes to real estate investments or We offer investors the project developments? At Bali Villas R Us, the heart of our approach is delivering chance to own holiday exceptionally personalized customer service tailored to the homes that don't just In making decisions about real estate investments or unique wishes of our guests. developments, my guiding lights are managing risks wisely, fulfill personal dreams but deeply understanding the market, spreading investments to We strive to not just meet but exceed expectations, creating promise a frui?ul return ensure safety, and always having a plan for the unexpected. unforgettable experiences that encourage our guests to return, on investment. Together, and deepening our client relationships. We believe in the we're not just building I look at the big picture, focusing on lasting growth rather power of open, honest communication with property owners, than quick wins. For me, it's about staying true to core investors, and our maintenance teams. homes; we are cra?ing values and seeing beyond the now. sanctuaries and It's crucial to us that everyone involved feels valued and investment opportuni?es Every property is unique to me, with its own story and heard. By regularly sharing insights on property performance, potential. I'm passionate about bringing out the best in each market trends, and our strategic moves, we build confidence that resonate with heart one by spotlighting what makes it special. and a sense of partnership, working together towards shared and soul. goals. In your opinion, what are the most critical skills and qualities that a successful leader in the real estate Moreover, we actively engage with our community and industry should possess? industry partners in Bali through networking events, local associations, and collaborative projects. To truly lead in real estate, one needs a clear vision, unwavering integrity, and the ability to light a spark in Our participation in community initiatives and partnerships others. Being a great communicator is essential—not just with local enterprises play a significant role in enriching the for building strong connections but also for navigating Bali real estate market. This approach not only strengthens Strategic planning is our compass, ensuring our day-to-day forefront of every decision, and personalized services negotiations with ease. our network but also fosters a culture of trust and respect. efforts are in harmony with our dreams for the future. By elevate the standard of living, raising the bar for everyone. bringing together bold ideas and stability, we aim to build a Being flexible, creative, and keenly aware of the market's Can you share an example of a project or initiative you path of advancement and heartfelt success. As a leader, how do you foster a collaborative and pulse are must-haves. At the heart of it all, carrying a are particularly proud of and the impact it had on your innovative culture within your real estate team or positive spirit, bouncing back from setbacks, and a team or the community? Can you describe a challenging situation you organization? commitment to making a real difference are what set a encountered in your real estate career and how you leader apart in this industry. Our team has consistently excelled, distinguishing itself in navigated it successfully as a leader? Creating a culture where collaboration and innovation sales, service management, and enhancing our client thrive is all about patience, heart, and a strategic mindset. How do you stay informed about the latest trends and offerings. Yet, our true measure of success lies not just in In this journey, we have faced many hurdles, including It's like guiding a team through a mix of creativity and developments in the real estate market, and how does achievements but in the heartfelt appreciation and ever-changing regulations and the challenge of unregulated consistency. this knowledge influence your strategic decisions? testimonials from those we serve. brokers. At the heart of our approach is nurturing a culture of Our team keeps a pulse on the real estate world by Witnessing the joy on our guests' faces and reading their Our strategy was rooted in empathy and understanding, continuous growth. We encourage our team to embrace diligently monitoring market trends, changes in consumer positive feedback affirms our impact, assuring us that our focusing on continuous learning, compliance with laws, and small, innovative steps and to see every experience as a preferences, and regulatory shifts. This proactive approach dedication to exceptional service has indeed made a building positive relationships with regulatory bodies. learning opportunity. In our space, taking thoughtful risks is allows us to adapt our strategies in pricing, marketing, and meaningful difference in their experiences. celebrated because it paves the way for meaningful managing properties, enabling us to capitalize on Facing the issue of unregulated brokers, we leaned into our breakthroughs, all while keeping our foundational work opportunities and mitigate risks with precision. As a leader in real estate, how do you balance the pursuit values, highlighting our commitment to transparency, top- steady and strong. of profitability with a commitment to sustainability and notch service, and unwavering integrity. This approach not This rich understanding of the market shapes our decisions community development in your projects? only differentiated us but also nurtured trust. 20 21 March, 2024 www.thecioworld.com March, 2024 www.thecioworld.com

doing good, ensuring our profitability doesn't come at the expense of the planet or the people we serve. Could you please let us know about any honors or awards you have received thus far in your professional career? Recognition, in my view, primarily stems from the value we provide to our clients, guests, and communities. As a result, our emphasis has consistently been on delivering outstanding service, promoting sustainable development, and creating a beneficial influence in the real estate and hospitality industries. With that being said, below are a few of my recent awards: • Most Remarkable Women Leaders Revamping the Future in 2024 by Inc. Magazine. • The International Women Entrepreneurial Challenge (IWEC) Award 2021 • Enterprising Women of the Year Award 2019 • Women Entrepreneurship Award at Femina • Women's Super Achiever Award at Femina • Pioneering Woman Leader Award at the World Women Leadership Congress • Excellency Brand Marketing and Management Award at Femina, to name a few. Honestly, the truest form of recognition we cherish comes from the positive impact we make on our clients, guests, and the communities we serve. It's always been our mission to excel in providing excellence in our service, champion sustainable practices, It's a delicate balance, but it's at the heart of what we do. and leave a lasting, positive mark in real estate and hospitality. These values are our compass, guiding every Our strategy is multifaceted. First, it starts with our decision and action. team—we nurture an entrepreneurial mindset that inspires innovation and creative solutions. This approach has been Of course, while our focus remains on making a difference instrumental in building a team that's not just dynamic but rather than collecting accolades, any honors we receive are capable of leading meaningful change. a testament to our team's hard work and dedication to these principles. We're also deeply committed to the communities we operate in. By prioritizing local hiring and supporting local businesses, we're helping to drive economic empowerment and sustainable community growth. Sustainability isn't just a buzzword for us; it's a guiding principle. We focus on integrating energy-efficient practices, minimizing waste, and conserving the environment in all our projects. It's about doing well by 22 March, 2024 www.thecioworld.com

video to get you unstuck. Experience and time invested Decode, Re?ect, were the things that really mattered. Today, we live in an era where knowledge is instantly accessible, with AI and ChatGPT providing answers to seemingly any question. While convenient, these developments will ultimately challenge the notion of “true expertise.” & Evolve: Three hallmarks of good leaders include integrity, loyalty, and the ability to continuously learn. Firstly, as a leader in Lessons in Technology and Life technology, integrity matters and it is about being honest, (Dr. J. Ajit Thomas) transparent, and keeping your promises. To me, integrity isn’t just a word; it’s an important principle, a guiding star, a Polaris that helps me build trust and credibility in an typically don’t write about myself, but when “The minds. “Don’t hoard knowledge” - that's my tech mantra. industry that's built on code and connections. A practical CIO World” invited me to write an essay sharing my Everyone has something to teach you and only a true digital example of showing integrity would be giving credit to I technology journey, I couldn't resist as I believe I have dinosaur thinks they know it all. In today’s knowledge your team when they push out a new release and making learned a few lessons along the way that may prove useful economy, what we know is just as vital as how easily and them feel valued and appreciated. Secondly, loyalty is an to a future generation of technology leaders. often we can share that wisdom. oft overlooked virtue in the fast-paced tech world, where opportunities seem to lurk around every corner. I will My journey in technology and software development began Everyone has something to teach you and one of my always be loyal to my team, and I expect them to in the mid-1980s. I cut my teeth as a young programmer favorite lessons came from the unlikeliest of sources – a reciprocate my loyalty. When I first started my career, I and the Pascal language was my gateway into the exciting cleaning lady named “Sylvie.” Early in my career, I used to worked with a developer who was actively soliciting our world of software development. The sense of control and work late nights in my government office, plowing my way customers, building his own book of business. It amuses me determinism coding offered was simply hard to beat. It was through my doctoral dissertation, I noticed that Sylvie was to no end that this fellow works today as a management like playing with digital Lego blocks, where my more efficient than the other cleaners who would drop in to guru dispensing advice on best practices in the workplace. imagination was the only limit on what could be built. empty my trash basket. I noted that when she entered the Finally, leaders need to continuously learn, by themselves Although technology has transformed greatly over the past room, she always carried an empty basket with her, that she and from team members. Never stop learning because in four decades, the joy and fascination of building something would swap out my full one with. By making a small this game, stagnation is a silent killer. Whether it’s from nothing still quickens my pulse. change to a mundane process, she halved her work by only attending workshops, taking online courses, or just having to enter each room once. This simple observation tinkering with a new piece of software, the world of Today’s software is built by teams, and teams need the right showed me that you can learn from anyone, no matter what technology is a playground of opportunities for the curious. mix of people, with a good balance of technical and their station is in life. Human processes can and should be It’s not just about staying relevant; it’s about thriving and business knowledge, to be effective. You might think improved continuously and you can learn something from leading the way in a constantly evolving digital universe. coders are socially awkward introverts, but that is not everyone by simply being attentive and observant. always true. Over the years, I have worked with and taught I am lucky to work today as the CTO of a well-respected hundreds of young developers, and have found many to be I believe that leadership isn’t only about charging into performance management company. Finding the right curious, artistic, and empathetic souls, making them fun to battle. Sometimes it is about simply being there for your “work home” is important in a career. Look for a workplace be around. Understanding that there is an internal “person” team, side by side. Great leaders are humble and respectful, that is aligned with your values and where you feel behind the external “personality” is the first step towards sharing credit and responding to failure with grace and accepted, trusted, and respected and the future will finding the best people. Remember that you are the temperance. I have found that the best leaders are undoubtedly be yours. “coach” of a team, striving to convert a motley crew of “servants,” stewards to their calling. Adrienne Clarkson, a “techies” into a symphonic digital orchestra. former governor-general of Canada, once said that to be (Dr. J. Ajit Thomas is the CTO of MaxBounty ULC, a successful, one must strive to become indispensable. Do leading performance management company working in the The ability to build and freely share knowledge within the what is needed, take items off your manager’s worry list, affiliate marketing space. He earned a Ph.D. from Carleton team is essential. It’s not about you - the leader - being the stay humble and respectful. Stay grounded, as ultimately, University in Ottawa, Canada. With over 30 years of smartest person in the room. It’s about creating synergy so we are all replaceable. industry experience, he's worked as an engineer and that the whole team becomes greater than the sum of its consultant with Accenture, Cognos, IBM, and other leading parts. Honestly, if you find yourself in a place where you In the past two decades, the world has changed dramatically organizations. He also teaches part-time at Carleton can’t share an opinion without fear, it’s probably a sign to in terms of knowledge acquisition and information University, sharing his wisdom in business strategy and pack your bags and move on. Good teams should have no processing. In the past, programmers gained knowledge by technology management. Reach out to him at room for sycophants, just a bunch of honest and creative thumbing through dog-eared books with no handy YouTube ajitthomasis@gmail.com ) . 24 25 March, 2024 www.thecioworld.com March, 2024 www.thecioworld.com

Bitcoin and Real Estate! The Perfect Investment Partnership? he debate between Bitcoin and real estate has sparked significant interest among investors seeking to diversify T their portfolios. Both assets offer unique advantages and challenges, making them compelling options for those looking to grow their wealth. Let's delve into the dynamics of this investment partnership to understand why combining Bitcoin and real estate can be a strategic move. Bitcoin: A Decentralized Asset with High Liquidity Bitcoin's appeal lies in its decentralized nature, offering investors autonomy over their assets without reliance on a central authority. This digital currency boasts high liquidity, allowing for instant trading globally, unlike real estate transactions that involve lengthy bureaucratic processes. The ease of trading Bitcoin, coupled with lower transaction costs compared to real estate, makes it an attractive investment avenue. Real Estate: Stability and Tangibility On the other hand, real estate stands out for its stability and tangibility, providing investors with a physical asset that can generate steady rental income or appreciate over time. While real estate requires maintenance and incurs various costs, it offers a sense of security and long-term growth potential. The Synergy Between Bitcoin and Real Estate The synergy between Bitcoin and real estate emerges when investors leverage the strengths of both assets. 26 27 March, 2024 www.thecioworld.com March, 2024 www.thecioworld.com

By diversifying into real estate through blockchain-based significant concern for real estate investors. While the solutions like tokenized real estate investing, crypto potential for high returns exists, so does the risk of investors can benefit from the stability and cash flow of real substantial losses. Property values, in contrast, tend to estate while enjoying the efficiency of blockchain appreciate steadily over time, providing a sense of technology. This approach allows for greater flexibility in stability that Bitcoin lacks. investment strategies and ownership structures, enhancing portfolio resilience. • Regulatory Uncertainty: The regulatory environment surrounding Bitcoin and cryptocurrencies is still The Advantages of Bitcoin in Real Estate Investment evolving, with governments grappling to establish clear guidelines. Real estate transactions involving Bitcoin • Global Accessibility: Bitcoin transcends geographical may encounter legal complexities and regulatory boundaries, allowing investors from any corner of the hurdles, potentially deterring risk-averse investors. world to participate in real estate markets without the constraints of fiat currencies or banking systems. This • Security Risks: While blockchain technology enhances accessibility opens up new avenues for international security, the decentralized nature of Bitcoin also attracts investment, enabling seamless transactions across malicious actors seeking to exploit vulnerabilities. Real borders. estate transactions conducted in Bitcoin are susceptible to hacking and cyber theft, necessitating robust • Security and Transparency: Blockchain technology, the cybersecurity measures to safeguard assets. underlying infrastructure of Bitcoin, offers unparalleled security and transparency in real estate transactions. By • Market Integration: Despite the growing acceptance of recording ownership rights and property details on a Bitcoin in real estate, widespread adoption remains a decentralized ledger, blockchain minimizes the risk of gradual process. Many traditional real estate fraud and ensures immutable records, thus instilling stakeholders, including lenders and title companies, are trust among stakeholders. still apprehensive about embracing Bitcoin due to its perceived risk and unfamiliarity. • Faster Transactions: Traditional real estate transactions often involve lengthy processes, including paperwork, The Future Outlook inspections, and intermediary involvement. Bitcoin transactions, on the other hand, can be executed Despite the challenges, the convergence of Bitcoin and real swiftly, reducing settlement times and streamlining the estate holds immense promise for the future of investment. buying and selling process. As technological advancements continue to reshape financial markets, the synergy between digital currencies and tangible • Hedging Against Inflation: Bitcoin's deflationary assets like real estate will likely deepen. Moreover, initiatives nature, with a capped supply of 21 million coins, to tokenize real estate assets on blockchain platforms could makes it an attractive hedge against inflation. As democratize access to property investment, empowering a central banks continue to print fiat currencies at broader spectrum of investors. unprecedented rates, investors seek refuge in assets like Bitcoin, which are immune to government In conclusion, while Bitcoin and real estate may seem like an manipulation. unlikely pairing, their combination represents a symbiotic relationship that offers unique opportunities and challenges. • Fractional Ownership and Liquidity: Bitcoin's By leveraging the strengths of both assets, investors can divisibility allows for fractional ownership of real diversify their portfolios, hedge against economic estate assets, enabling investors to participate in high- uncertainties, and participate in the global economy with value properties with smaller capital outlays. unprecedented ease. As the partnership between Bitcoin and Additionally, platforms facilitating the tokenization of real estate evolves, it may very well redefine the landscape of real estate assets enable greater liquidity, allowing investment for generations to come. investors to trade fractions of properties seamlessly. - Alaya Brown Challenges and Considerations • Volatility: Bitcoin's price volatility remains a 28 March, 2024 www.thecioworld.com

Middle East's 10 Most Impac?ul Leaders in Real Estate A Ah hm me ed d Enhancing the Accessibility of Luxury Living story? Ehab he world is experiencing unprecedented Can you please brief us about Madaar and its inception urbanization, with more people moving to cities T than ever before. With higher urbanization, there's a greater demand for infrastructure development, including In 2015, Madaar was established with the flagship project transportation networks, utilities, housing, and public Azha Ain Sokhna, an unmatched success story that amenities. Thus, transformative spaces are needed to combines resort living and hospitality in the comfort of accommodate this influx of population while ensuring one’s own home. After the success of Sokhna, Azha North livability, sustainability, and efficiency in urban Coast was launched with great success due to the track environments. record of the company. With the support of its sister company, one of Egypt’s top hospitality companies, Sunrise To match these demands, Ahmed Ehab, the CEO of Resorts & Cruises, Madaar can provide a fully facilitated Madaar, has been striving to bring meaningful changes hospitality service that differentiates it from most real estate with his forward-thinking strategic planning. Under his developers. The core belief of the company is to offer leadership, the company takes pride in tailoring luxury consumer-centric destinations that revolve around the living to the nature of every project. Madaar takes the time client’s comfort and foster connections and communities. to research the region, account for its climate and natural features, and then build with its inhabitants in mind. What inspired you to pursue a leadership role in real estate, and how do you envision the industry evolving in During this discussion, Ahmed highlightedhow the the coming years? company envisions providing boundless options for luxury living to its customers as it aims to expand further under his My leadership role stems from a desire to shape the guidance. industry positively. I foresee real estate evolving with sustainability, technology integration, and community- Below are the highlights from the interview! centric development, ensuring lasting impact. Could you please tell me about yourself and what As a leader, how do you foster a collaborative and motivated you to embark on this sector? innovative culture within your real estate team or organization? Ahmed Ehab, CEO of Madaar, took on this pivotal role in Ahmed Ehab October 2022 with an illustrious career spanning 17 years, a A collaborative and innovative culture is nurtured through Chief Execu?ve Officer bachelor’s in civil engineering, and an MBA. Motivated by open communication, cross-functional collaboration, and a Madaar a passion for creating transformative spaces, I embarked on commitment to embracing new ideas. Regular team- this sector, driven by a commitment to introduce a new building activities and a focus on professional development perspective of leading a real estate development company contribute to our dynamic work environment. by focusing on training and developing personnel with meticulous performance and great attention to detail that Can you describe a challenging situation you contributes to the bigger picture of the organization. encountered in your real estate career and how you navigated it successfully as a leader? 30 31 March, 2024 www.thecioworld.com March, 2024 www.thecioworld.com

As Madaar embarked on its first coastal project, Azha Ain Can you share an example of a project or initiative Sokhna, in 2015, marking its inaugural venture, challenges you're particularly proud of and the impact it had on arose in 2016 due to currency devaluation and escalating your team or the community? construction material costs, and despite robust initial sales, the company confronted difficulties meeting delivery I take pride in Azha North's successful launch, showcasing deadlines amidst economic shifts. The devaluation impacted our commitment to quality and innovation and our keenness costs, while material price hikes posed hardships. These to sustain the quality of offerings we provided in our challenges demanded innovative solutions to adhere to previous project, Azha Ain Sokhna, and implement promised timelines, yet, leveraging economies of scale and sustainability methods and renewable energy practices to strategic approaches, we overcame obstacles and committed give back to our community and environment. The project to the project's success, ensuring delivery as promised not only elevated our team's morale but also positively despite external economic pressures. impacted the local community. What values or principles guide your decision-making As a leader in real estate, how do you balance the process when it comes to real estate investments or pursuit of profitability with a commitment to project developments? sustainability and community development in your projects? Our decisions are guided by the values of sustainability, community impact, and financial viability. Striking a We strike a balance by integrating sustainable practices into balance ensures projects align with our commitment to our projects, ensuring profitability without compromising responsible development. environmental and community well-being. This approach aligns with our commitment to responsible development. In your opinion, what are the most critical skills and qualities that a successful leader in the real estate Could you please let us know about any honors or industry should possess? awards you have received thus far in your professional career? Effective leadership in real estate demands vision, adaptability, strategic thinking, and strong communication. • Luxury Living REI CEO of the Year 2023 from MEA Building and leading high-performing teams is crucial for Markets. success in this dynamic industry. • Participation as a speaker at the Decision Makers Conference—Real Estate Edition 2023. How do you stay informed about the latest trends and • Acknowledged as the CEO of one of the top real estate developments in the real estate market, and how does developers at the Al Ahram Real Estate Exhibition. this knowledge influence your strategic decisions? • The Big 5 Egypt Impact Awards 2022: shortlisted for Developer of the Year Award. Continuous learning and staying updated on market trends • Cityscape Award: Category: leisure and hospitality and economic changes are achieved through industry project award—built. publications, networking, participation in conferences, and • Best Commercial Developer in Africa by the the expansion of personal knowledge and skills. This International Property Awards 2020. knowledge informs our strategic decisions and allows us to • Masterplan Project Award for Azha Ain become differentiated within the market clutter, in addition Sokhna—Cityscape to overcoming economic challenges. In addition to these awards, my position on the construction What strategies do you employ to build and maintain and building committee of the Egyptian Businessmen strong relationships with clients, stakeholders, and Association (EBMA) reflects recognition within the industry partners in the real estate sector? business community. Strong relationships are built on transparency, integrity, and delivering on commitments with a high standard of quality and service. Regular communication with clients, stakeholders, and partners fosters trust and long-term collaboration. 32 March, 2024 www.thecioworld.com

The Unseen Crisis! he global economy is facing a looming crisis as unemployment rates soar, leading to a potential real T estate time bomb. The repercussions of this crisis are evident in the commercial real estate sector, particularly in empty office buildings, which have become a significant How concern for investors and policymakers alike. Unemployment is Fueling a Economic Time Bomb in Empty Office Buildings According to a Bloomberg article, the world's empty office buildings have transformed into a debt time bomb, with higher Real Estate interest rates and declining property values pushing the commercial real estate market to a precarious edge. Owners of Time Bomb office towers in major cities like New York and London are choosing to walk away from their debts rather than continue investing in struggling properties. This trend is indicative of the underlying issues in the commercial real estate market. Impact on the Housing Market The repercussions of rising unemployment and economic uncertainty are not limited to commercial real estate but also extend to the housing market. Financial Samurai highlights concerns about the housing market, emphasizing that with millions unemployed and economic instability, caution is warranted. The real estate sector is showing signs of stress, with affordability at an all-time low due to high mortgage payment-to-income ratios. This situation poses a dilemma where either mortgage rates must decrease or real estate prices need to adjust to restore balance. Unemployment has long been acknowledged as a significant indicator of financial health. However, its ripple effects extend far beyond the immediate struggles of individuals seeking employment. One area where its impact is particularly potent, yet often overlooked, is the real estate market. Behind the glossy facade of bustling cities and burgeoning suburban neighborhoods lies a ticking time bomb fueled by unemployment—a crisis largely unseen but potent in its potential to reshape the landscape of real estate. The correlation between unemployment and the real estate market is multifaceted, with ramifications that permeate both the residential and commercial sectors. At its core, the link between the two is rooted in consumer confidence and spending power. When individuals lose their jobs or face uncertain employment prospects, their ability and willingness to invest in real estate diminish significantly. 34 35 March, 2024 www.thecioworld.com March, 2024 www.thecioworld.com

In the residential sector, the ramifications are starkly measures, job creation programs, and unemployment evident. High unemployment rates translate to reduced benefits can help mitigate the immediate impacts of job loss demand for housing as individuals and families struggle to and provide a lifeline to struggling individuals and families. afford mortgages or rental payments. As a result, properties Investing in education and workforce development languish on the market for extended periods, leading to a initiatives can equip workers with the skills needed to thrive surplus of inventory and downward pressure on housing in a rapidly evolving job market, reducing the prevalence of prices. For homeowners, this can spell disaster as the value long-term unemployment. of their most significant asset dwindles, potentially trapping them in underwater mortgages. Furthermore, fostering an environment conducive to business growth and innovation is essential to stimulating Conversely, those seeking to enter the housing market may job creation and restoring confidence in the real estate find themselves shut out, unable to secure financing, or market. Streamlining regulations, reducing barriers to unwilling to commit to such a significant financial entrepreneurship, and incentivizing investment in obligation in an uncertain economic climate. This underserved communities can spur economic activity and stagnation in the residential real estate market reverberates create employment opportunities where they are needed throughout the economy, stifling construction activity, most. reducing demand for related industries such as home furnishings and appliances, and impeding economic growth. In addition to proactive government intervention, collaboration between stakeholders in the real estate The commercial real estate sector is equally vulnerable to industry is essential to weathering the storm of the impacts of unemployment. Businesses, particularly unemployment. Landlords, developers, and policymakers small enterprises, are forced to downsize or shutter must work together to identify innovative solutions to altogether in the face of economic uncertainty, leaving repurpose vacant properties, revitalize struggling behind vacant storefronts and office spaces. The rise of neighborhoods, and create affordable housing options for remote work, accelerated by the COVID-19 pandemic, has displaced individuals and families. further exacerbated this trend as companies reevaluate their office space needs in a world where physical presence is no Embracing technological advancements and adapting to longer a necessity. changing consumer preferences can also help mitigate the impact of unemployment on the real estate market. Moreover, the decline in consumer spending resulting from Emphasizing flexible lease agreements, incorporating high unemployment rates translates to reduced foot traffic in virtual viewing options, and repurposing commercial spaces retail establishments and decreased demand for office space. for mixed-use developments are just a few strategies that Landlords find themselves grappling with mounting can help landlords and developers adapt to evolving market vacancies and dwindling rental incomes while property dynamics. values plummet, eroding the value of commercial real estate portfolios. Ultimately, addressing the unseen crisis of unemployment requires a multifaceted approach that prioritizes economic The symbiotic relationship between unemployment and the resilience, social equity, and sustainable development. By real estate market creates a self-reinforcing cycle of acknowledging the interplay between unemployment and economic decline. High levels of unemployment lead to the real estate market and taking decisive action to address reduced consumer spending, which in turn depresses its root causes, we can avert the looming time bomb and demand for real estate, leading to further job losses in build a more inclusive and resilient economy for future industries reliant on a thriving property market. This generations. downward spiral can have devastating long-term - Alaya Brown consequences as communities grapple with blight, declining tax revenues, and diminished opportunities for economic revitalization. Addressing the underlying causes of unemployment is paramount to averting the impending real estate crisis. Government intervention through targeted stimulus 36 March, 2024 www.thecioworld.com

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Middle East's 10 Most Impactful Leaders in Real Estate

Middle East's 10 Most Impactful Leaders in Real Estate

Presentation Transcript

Middle East

10 Worlds Most Luxurious Homes - Oakville Real Estate

MIDDLE EAST

Middle East

Middle Leaders and Aspiring Middle Leaders 1

Middle East

Middle East

MIDDLE EAST

Most trusted Real Estate in AndhraPradesh & Telangana

Rajahmundry Real Estate - East & West Godavarie's Real Estate

Gaughan Minnesota - Leaders in Real Estate Development

The10 Most Successful Women Leaders in the Middle East

East Texas Real Estate for Sale

Looking For The Real Estate in Middle Cove

REAL ESTATE BROKER OTTAWA EAST END

The 10 Most Successful CEO's in Middle East, 2023

The 10 Most Prominent Real Estate Companies in UAE January 2023

The 10 Most Influential Leaders in Real Estate 2023

World’s Most Admired Women Leaders in the Middle East, 2023

The Most Impactful Leaders in Brand Consulting

The Most Prestigious Companies in Real Estate

Remax Real Estate Agents East Ham