Towering achievements: Ahmed Alhatti

When Ahmed Alhatti founded real estate investment and development firm Cayan Group in 2004, he had no way of knowing just how humble a beginning it was – and what heights his venture would reach. All he saw was the challenge.

"We entered the Dubai market in the toughest period," the President and Chair tells The CEO Magazine. "There was crazy domestic competition and we were up against big international players."

But Alhatti stood his ground.

"It’s not easy for any new company to build a name, credibility or a strong team. It comes only with time and very hard work."

Towering above

Cayan Group’s hard work has paid off in several tangible ways. First, there’s the name.

"When I hear someone talking about us and complementing our work, it’s the best reward," Alhatti says. "When the banks talk about how committed we are and how they like to work with us, it is, in my opinion, the best achievement."

Second is the team.

"I’ve built a team that’s as committed as they were on day one. Some of the team members have been with me for more than 18 years and we still enjoy working together."

And then there’s the elephant in the room – only this one’s a little bigger. Designed by Skidmore, Owings & Merrill (of Burj Khalifa renown), Cayan Tower is a 306-meter, 75-story skyscraper whose twisted design has become a renowned piece of the Dubai skyline in the decade it’s been standing.

"Cayan Tower is one of our most recognized projects," Alhatti confirms. "We still receive awards for it all the time."

Making your mark on the world is the ultimate goal of any real estate developer and with Cayan Tower, Alhatti has achieved that. But a decade on from its completion, he’s shown no signs of slowing down.

"We’ve delivered more than 3,000 units to happy clients and that’s a real point of pride for me," he says. "It has also given us the strength to enter NEOM."

One of the biggest urban development projects in Saudi Arabia’s history, NEOM is a 26,500-square-kilometer zone that includes golden beaches and snowy mountains. Launched by Crown Prince Mohammed bin Salman, NEOM’s The Line is a sustainable development that will combine commercial and residential districts with nature parks and preservation areas.

"They’re very professional," Alhatti says. "They’re keen to partner with developers of our size, and we have two projects underway with them. In fact, I still consider Cayan one of the smaller companies to partner with NEOM."

Reaching for the sky

The aspiration to reach the sky, as Cayan Tower has done, or to leave a footprint in a forward-thinking project such as NEOM, is a living entity that’s forever changing, according to Alhatti.

"What was driving me in 2004 isn’t the same as what drives me now," he reflects. "The market is one of the best drivers and here in Dubai and Saudi Arabia, it’s a very competitive market. You can achieve great things quickly. Our international partners can’t believe we can deliver projects within 12 months.

"Such a competitive market will always drive you to achieve more."

After 20 years, however, Alhatti believes the attainment of satisfaction at work is the best motivation he could have.

"In the beginning, I wanted to reach a certain level of success," he recalls. "Now, what really matters for me is inner peace and satisfaction.

"Yes, I care about the name and the quality, but I’ve stopped looking at the figures. I’ll choose projects based on what it will add to our name and how special it is."

No longer is the company in the business of public housing, for instance.

"It’s an amazing service to the community, but frankly, there are people better than us to do that. We enjoy more sophisticated, unique projects," he explains.

There’s no end in sight for Cayan Group’s drive and success, a fact that worries Alhatti’s wife.

"Every year I promise her I’ll retire. She keeps reminding me, so I’ve stopped promising," he says with a laugh.

"I’m blessed to be a part of a beautiful family, and success means I’m able to enjoy spending a lot of time with my wife and my four kids. I’m really enjoying life and that’s important at this stage."

With NEOM on the horizon, Alhatti knows it’s important to enjoy life before the pace ramps up to another level.

"My kids ask a lot of questions about the future, but I always tell them to enjoy the present," he says. "Plan whatever you want, but you can control the present and that will complement any future achievements."