This article is part of the 2024 Middle East annual Follow The Leader series, where business leaders from the region discuss strategies, industry-specific tactics, and the professional challenges they face as they guide their companies toward success.
“I started my journey in the real estate sector when I was just 13,” shares Ali Sajwani, co-founder and CEO of Amali Properties, a Dubai-based boutique ultra-luxury property development firm he established with his sister, Amira Sajwani. I would go to the office on weekends to learn about gross margins, valuation metrics, and various other topics. This foundational knowledge laid the groundwork for my career in real estate.”
Sajwani’s early insight into the industry stems from his family’s business, DAMAC Properties, a multi-billion dollar global real estate development company headquartered in Dubai. This background appears to have been crucial for the swift success of Amali Properties, which gained international attention with its inaugural project—the Amali Island development, valued at $544.5 million. “My sister Amira and I have always aspired to make a mark in the real estate industry,” he remarks.
“We’ve been contemplating this for some time, but we took our time because we aimed to build a brand that would genuinely disrupt the market. Amali Properties is the ideal concept, featuring 24 ultra-luxury beachfront mansions that are super exclusive and unique.”
During the development of the Amali Island project, Ali and his sister dedicated 10 months to finding the ideal location and another nine months to conceptualizing the entire project. “We carefully evaluated every aspect of the architecture, landscape, and finishes, aiming to create a product that Amira and I would truly want to call home,” Sajwani explains. “Our search for the perfect site led us to the islands of São Paulo and Uruguay [within the Dubai World Islands archipelago], just a six-minute boat ride from the Dubai mainland. We combined the two islands to create a land area of 1,200,000 sq. ft., although acquiring those islands was a challenging process.”
Despite their specialized knowledge in the real estate sector, Sajwani acknowledges that “working on and developing a project like Amali Island is far from easy.” He adds, “Constructing anything on the Dubai World Islands [a man-made archipelago designed to resemble a world map off the coast of Dubai] demands a unique skill set, and we are acutely aware of the complexities involved. It’s entirely different from developing a project on the Dubai mainland. We must undertake marine works to ensure pristine beaches for our clients, handle all logistics on-site, position the labor camp close to the island, and even conduct concrete batching on-site, among many other tasks. These challenges are precisely what drew Amira and me to this project, as we knew it would be an incredible learning experience. “We are completely confident in our ability to deliver a product that no other project in Dubai can offer.”
Another interesting facet of how the brother-and-sister team developed the Amali Island project relates to its design features. Sajwani explains that the project was originally intended to showcase two architectural styles and two interior design styles. “However, we came to appreciate each other’s styles so much that we decided to blend elements from both,” Sajwani shares. “Interestingly, when we launched the project, 90% of our clients opted for an architectural style designed by me and an interior style crafted by Amira. It was a delightful journey and a new experience for us. We came to understand that we truly complemented each other, having been close since childhood and sharing similar tastes and visions.
Their commitment to the project yielded impressive results.”The overall project value stands at $544.5 million, and we sold 22 of the 24 mansions within a month of the launch,” Sajwani observes. “The remaining two mansions are priced above $13.6 million. These figures underscore the significant demand for such a distinctive project.”
Sajwani takes pride in the Amali Island project’s ability to attract a wide array of clients from various nationalities and backgrounds. “Some clients bought a mansion as their primary residence, while others chose it as a weekend or holiday retreat, and some saw it as an investment for capital appreciation, recognizing the project’s potential,” he explains. “Our clients hail from the local market, Europe, South and East Asia, and various Arab nations.” It’s gratifying to see that our project appeals to such a wide range of nationalities.” To develop a niche and unique concept that stands out in Dubai’s fiercely competitive luxury real estate market, Sajwani employs a leadership style he describes as “assertive but fair.”
He elaborates, “It’s essential to ensure that my team remains sharp and avoids a relaxed environment that could hinder our progress. My direct and close team knows that I am fully engaged and committed to the business. As a leader, you must inspire and instill that same dedication in your team. As the saying goes, ‘The pack takes its cue from the alpha wolf, and when that wolf is wise and mindful, the entire pack thrives.’ Conversely, if you, as a leader, are too laid-back, your team is likely to adopt that same mindset.”
Looking ahead, Sajwani has no intention of resting on his achievements. “Our main aim at this stage is to effectively build and deliver Amali Island to the clients who have confidence in us by 2027,” he concludes. “We have ambitious plans for the future. I believe that once the market and industry experience our product after its delivery, it will set a new benchmark in the ultra-luxury real estate sector globally, particularly regarding island and beachfront living.”