Founder and Managing Director at AMB Properties, the 29-year-old Powerhouse Mohamed Albadani talks to Megha Agrawal about what it means to be in the business of making his clients’ dreams come true
“It all starts with a conversation. Diligent, Reliable, Ambitious.” This is what Mohamed Albadani’s LinkedIn profile reads like, instantly setting the tone to make one feel at home. Making a name in the very big and ritzy map of Dubai’s real estate market, Mohamed has cracked impossible deals and made the best sales – not by being a cutthroat competitor, but by being patient and playing fair and square towards his clients. His company, AMB properties, specializes in the sales of land, residential villas, and buildings and is known for truly catering to their clients’ requirements.
Mohamed’s grandfather and father have always been in the real estate business. With an idyllic childhood, Mohamed did not work in the family business until the age of sixteen. Reluctant at first, he understood his father’s motivation behind the push – to understand and gain expertise in this very people-centric industry. After four years of working part-time at his father’s office and a business degree from Rochester Institute of Technology, New York, Mohamed decided to quit the family business and start from ground zero. He began as a property seller and broker, working from a tiny office in Garhoud with a portfolio of a few small studios.
Creating a Mark
Mohamed tried to drum up commissions by contacting other real estate companies, but being a new player in the market, he was handed the most unsellable properties to sell, which he did and thereby gained a reputation for cracking tough deals. It also helped him establish good working relationships with other firms in Dubai. He treated them not as competition to be defeated but as partners to exchange information and conduct businesses jointly.
Today, AMB is renowned for its ethics and ‘clients first’ approach. When AMB gets involved alongside multiple firms, the deal gets closed with all firms present. No one firm out-jumps the others to gain a sole commission. AMB also fast-tracks property sales jointly with other companies rather than sit on it alone to make a bigger profit. This has gained Mohamed the trust and respect of his clients and competitors alike.
AMB properties stands for Ahmed Mohamed AlBadani Properties. The idea behind putting his brother’s and his initials in the company name was to show clients that they would be dealing with people, not a company. Building personal connections with clients is crucial to Mohamed. He says, “I don’t want to see clients just once to make a sale, achieve a target, and be done. I want them to return to me for their real estate needs and refer AMB properties to their family and friends as their trusted real estate consultants. I want my clients to have security and peace of mind regarding their investments.”
Mohamed feels that it is vital to remember that for most people buying property is a culmination of years of hard work to earn and save enough to make their dream come true. So real estate companies should feel duty bound to provide sound advice and correct guidance. He believes that good intentions and integrity always show, and their impact reverberates through time. This motivates clients to build a long-lasting relationship with AMB and garners the best clientele by way of referrals.
A Different Approach
A veteran of many years in the real estate market, Mohamed feels it is essential to build the right team to carry forward his vision for AMB to become a client-first company. “A good team will buoy you up; an unfit team will pull you down and consume your most valuable commodities – time and energy.” He looks for good and honest communication skills and personal integrity in his employees and maintains a small team of seven employees.
Mohamed advises his team to be patient and give adequate space to clients to make up their minds. He says, “it’s important to point out the pros and cons of the deal and then take a step back for the client to think for themselves.”
Like any other firm, Mohamed and his company have had their small share of rescinded deals. He advises taking it in stride and developing contingency plans to minimize losses for all parties involved. Care with contracts, sound legal advice, and clear communication with clients helps avoid misunderstandings. He is unequivocal in his approach: Even if you lose the deal, don’t lose the client.
Trends and Insights
Mohamed has some great insights for people looking to buy and sell a property. Dubai offers one of the highest returns via rents on properties. So, he says it’s a great way to invest and recoup money here. The market may fluctuate, but the owner receives tax-free rent. The Dubai government facilitates investor visas when people can show properties making more than 750K AED annually.
Another thing to notice is that the process of buying and transferring property is quick and digital. It takes twenty minutes to obtain the ownership deed. In his opinion, investing long-term in real estate is always best. “You are not actually at a loss until you sell,” he states. Unfortunately, some people have invested and then lost money as the property values have decreased. Mohamed advises consulting with a knowledgeable real estate broker who himself has made investments in Dubai and knows the market well.
He further adds that the real estate market trend of UAE is in flux post covid with a lot of property liquidation sales. On the other hand, many people moved to Dubai during the pandemic because of how the government handled the pandemic here. Overall, the demand for properties is high, which is why Dubai real estate is expensive. The sales of villas and townhouses have surged and have been more in demand. As a result, the prices are rocketing because of the limited supply. Also, the FIFA world cup starting in Qatar has been an added boost.
“Statistically, many expats invest here, with Indians topping the list followed by British, Saudi, Russians, and the Chinese. The clear and beneficial ‘people first’ policies and freedom from crime are the main attractions. The real estate market is expected to continue to grow because the government here plans lots of events for increasing international tourism and trade,” he remarks.
As a successful realtor, Mohammad advises balancing hard work and ambition with quality downtime to achieve a harmonious meld of success and happiness in life.
“We have been given a soul, a mind, and a body by God to do something with it. Why not be remembered for our good deeds? Our legacy should be about giving, creating accomplishments through hard work, honesty, and integrity,” says the young entrepreneur, wise beyond his years.