{"id":358,"date":"2025-06-04T07:25:06","date_gmt":"2025-06-04T07:25:06","guid":{"rendered":"https:\/\/longtrepreneur.com\/?p=358"},"modified":"2025-06-04T14:22:28","modified_gmt":"2025-06-04T14:22:28","slug":"farhad-azizi-the-action-oriented-leader-shaping-dubais-real-estate-market","status":"publish","type":"post","link":"https:\/\/longtrepreneur.com\/index.php\/2025\/06\/04\/farhad-azizi-the-action-oriented-leader-shaping-dubais-real-estate-market\/","title":{"rendered":"Farhad Azizi: The Action-Oriented Leader Shaping Dubai\u2019s Real Estate Market"},"content":{"rendered":"\n

Longtrepreneur <\/em><\/strong>continues to bring the best-in-class tech and business leaders to get their take on long-term thinking in the world of Commerce, Corporate Communications, Technology, Real Estate and Entrepreneurship.<\/em><\/p>\n\n\n\n

This week\u2019s <\/em>\u201cTake the L\u201d <\/em><\/strong>series guest is a personality who needs no introduction:<\/em> Farhad Azizi (Group Chief Executive Officer).<\/em><\/strong><\/p>\n\n\n\n

Here is the conversation in an interview format between Yawar Abbas<\/em>\u00a0(Longtrepreneur)\u00a0<\/em><\/strong>and Farhad Azizi<\/em>\u00a0(Group Chief Executive Officer \u2013 Azizi).<\/em><\/strong><\/p>\n\n\n\n

Yawar Abbas: What\u2019s the one thing about your employees working at Azizi Developments that frustrates you?<\/strong><\/p>\n\n\n\n

Farhad Azizi:<\/strong> We now have approximately 36,000 diligent men and women employed with us here in Dubai, and they are truly the cornerstone of our business. I\u2019ve always believed in being a people-first organization. When your employees are happy, your customers will be too.<\/p>\n\n\n\n

That said, this is a tough question\u2014but I\u2019ll answer it honestly. What frustrates me most is when employees become overly subservient\u2014waiting to be told what to do, lacking initiative, and requiring constant micromanagement. It creates a lose-lose situation. When someone can\u2019t operate independently, it not only drains their manager\u2019s time and slows down the team, but it also stunts their own growth. I prefer to work with people who take ownership and make sound decisions without needing constant direction. We hire based on merit and potential\u2014so I expect to see that translated into proactive, independent action.<\/p>\n\n\n\n

Yawar Abbas: What\u2019s the one quality your father has which you see within you?<\/strong><\/strong><\/p>\n\n\n\n

Farhad Azizi:<\/strong> Growing up, I saw my father build our company from the ground up. His determination and resilience inspired me to embrace his legacy and encouraged me to find my own path in real estate. Watching him deal with challenging situations taught me not to fear setbacks: failure is simply a stepping stone to success. As the eldest among my siblings, I value the wisdom he\u2019s passed down\u2014especially his unwavering belief in perseverance. I continue to learn from his example, seeing how he handled challenges with grace and inner strength, which motivates me every day.<\/p>\n\n\n\n

But what I admire most about him\u2014and what I try to carry forward\u2014is his humility. There\u2019s no bling, no facade. He\u2019s direct, transparent, and consistent\u2014his mind and heart are always aligned. He doesn\u2019t say one thing and does another. He doesn\u2019t play politics, and while that blunt honesty can turn some people off, I find it beautiful. That kind of clarity and authenticity is rare, and it\u2019s one of the key reasons behind his success.<\/p>\n\n\n\n

His values guide me even now. He remains a role model not just because of what he\u2019s achieved, but because of how he\u2019s done it\u2014with honesty, humility, and heart. I now focus not just on preserving or emulating what he built, but on pushing it further. It\u2019s about evolution\u2014taking the foundation he laid and advancing it with a new generation\u2019s perspective. The world moves fast\u2014 what worked yesterday might fail tomorrow. That\u2019s why the next generation must step in, not to replace, but to evolve. Without that shift, growth stalls and stagnation sets in.<\/p>\n\n\n\n

Yawar Abbas: In one word, who is Farhad Azizi?<\/strong><\/strong><\/p>\n\n\n\n

Farhad Azizi: <\/strong>I’m a doer. I don\u2019t wait around\u2014I act. \u201cGood things come to those who wait\u201d is overrated. I don\u2019t see patience as much of a virtue, in most contexts at least. You want change? Change it. You want results? Make them happen. Patience has its place, but progress doesn\u2019t come from sitting still. I have an innate disdain for dormancy and laziness.<\/p>\n\n\n\n

There is a beautiful parable I was once told. A man prays for God to save him from a flood. He refuses help from a boat and a helicopter, saying \u201cGod will save me,\u201d then dies\u2014and in heaven, God says, \u201cI sent the boat and helicopter.\u201d I believe in faith, but even if your path is already written, you must still act to move forward on it.<\/p>\n\n\n\n

Yawar Abbas: What is the one development project of which you are most proud?<\/strong><\/strong><\/p>\n\n\n\n

Farhad Azizi: <\/strong>I take pride in all our projects; each one is very carefully planned to reflect the different needs and wants of the market. I am especially confident that Burj Azizi, set to be the world\u2019s second tallest tower at 725m, with its many world record-breaking features, will become an iconic landmark with lasting significance. It is the only project built as fully freehold on Dubai\u2019s Sheikh Zayed Road, opposite to the Dubai World Trade Center. There are a total of 1,038 homes, of which 128 are truly awe-inspiring ultra-luxury penthouses, as well as an all-suite seven-star hotel inspired by seven cultural themes, and a vertical retail center with high-end brands spread over seven floors. Burj Azizi will feature the highest hotel lobby in the world on level 11, the highest nightclub on level 126, the highest observation deck on level 130, the highest restaurant in Dubai on Level 122, and the highest hotel room in Dubai on level 118. This is our pride and joy, our legacy.<\/p>\n\n\n\n

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Azizi Venice, our venetian-inspired luxury waterfront lifestyle community set entirely within a swimmable crystal-blue water lagoon in the rapidly growing Dubai South, excites me as well. With over 36,000 apartments and 109 ultra-luxury Monaco Mansions that comprise 6-8 bedrooms, their own private beach accesss, multiple pools, a cinema, a spa and much more, and an AED 2.5 billion Cultural District featuring a stunning opera, reviewed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, this is truly a master planned community project to behold.<\/p>\n\n\n\n

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And then we have our most recent launch, Azizi Milan. Guided by the principles of sustainability, nature, and the cultured refinement of Italian fashion, this 81,200-home community is set to bring the timeless Milanese charm to Dubai. At a total value exceeding AED 75 billion, it is slated to cover 40,000,000 sq. ft. in GFA making it one of the largest mixed-use communities in the entire UAE. The master plan will be home to a population of 144,000, with 800 hotel keys to be created. The first building that was released for sales had sold within just an hour of it being launched!<\/p>\n\n\n\n

I am passionate about each and every single one of our projects \u2013 they all have their individual merits. We currently have around 150,000 units under construction and have already delivered more than 40,000 homes!<\/p>\n\n\n\n

Yawar Abbas: What is your message to consumers in Canada that are looking to buy property in Dubai?<\/strong><\/p>\n\n\n\n

Farhad Azizi: <\/strong>Dubai\u2019s property sector will continue to thrive. This is driven primarily by the city\u2019s many merits, with it being the best place to visit, live and work in. Its world-renowned safety, its outstanding legal and regulatory framework, its welcoming, tax-free, opportunity-rich and highly business-and investment-conducive environment, and its status as the world\u2019s most popular tourist destination, all contribute to the surging population (expected to hit 5.8 million by 2040) and visitors, and as such, to the exponentially growing popularity of real estate here. <\/p>\n\n\n\n

With all this in mind, the \u2018product\u2019 that Dubai is, is far superior in its offerings than other major metropolitan cities across the globe \u2013 cities that have far fewer advantages, yet where square foot prices far surpass those here. As such, properties in Dubai are truthfully worth significantly more than what are currently being sold for, especially when compared to the price points of other major mature markets, and that will have to balance itself out over the coming years. <\/p>\n\n\n\n

As a result, prices must continue to increase. For a comparison, In Dubai’s primary market, the average purchase price ofresidential properties <\/a>reached AED 1,558 per square foot in Q3 2024, less than half of the prices in any Germany city, London, and various other cities across the globe that have much less to offer. As is expected in any healthy market, minor price corrections are likely to occur here and there, perhaps even in 2025, but most likely at a later stage, and will be overshadowed massively by the mid- to long-term surge in prices. As such, my outlook remains decidedly positive.<\/p>\n\n\n\n

Yawar Abbas: What\u2019s the one quality which differentiates Azizi Developments from Emaar and Damac?<\/strong><\/strong><\/p>\n\n\n\n

Farhad Azizi: <\/strong>Much like the visionary, forward-thinking leadership of Dubai, we strive to plan ahead for future generations. While projecting 50 years into the future has its limitations\u2014we don\u2019t claim to have a crystal ball\u2014we do have an ambitious, yet carefully structured vision. We take inspiration from Japanese companies renowned for long-term strategic thinking, such as Panasonic, which has developed a 100-year management plan, and SoftBank, which has articulated a 300-year vision focused on AI and global investment. We aim to adopt a similar approach\u2014ambitious in scope, yet flexible enough to adapt to the fast-evolving global landscape. It\u2019s not survival of the fittest\u2014 it\u2019s survival of the most adaptable. We must continuously expand our knowledge and stay attuned to the shifting needs of Dubai\u2019s growing population and beyond. Only by understanding what people desire today and anticipating what they will need tomorrow can we remain relevant and impactful.<\/p>\n\n\n\n

Our mission remains steadfast: to enrich lives for generations to come. We will continue to fulfill this mission not only through the development of sustainable, lifestyle-enhancing communities in Dubai but also internationally. We are currently establishing our footprint in high-growth markets<\/p>\n\n\n\n

including Europe, the United States, and Australia. While Dubai will always be home and the heart of our operations, we are taking proactive steps to introduce Azizi as a global, Dubai-born brand\u2014 with many exciting international projects to be announced in due course.<\/p>\n\n\n\n

Beyond real estate, we are making major investments in other sectors. In hospitality, we\u2019re investing AED 60 billion over the next five years to develop and operate 50 high-end hotels under our newly launched hospitality brand. We are also advancing initiatives in banking, energy, and several other strategic industries to diversify and strengthen our portfolio.<\/p>\n\n\n\n

Our philanthropic efforts will always be a cornerstone of our identity. Our CSR activities span both the UAE and global communities, with a strong focus on sustainability, equality, healthcare, education, and sports. This year, we\u2019ve donated AED 3 billion\u2014the largest private contribution in UAE history\u2014to the Fathers\u2019 Endowment campaign by the Mohammed bin Rashid Al Maktoum Global Initiatives. We also contributed AED 600 million to the Mother\u2019s Endowment campaign and AED 100 million to the 1 Billion Meals initiative, helping to combat global hunger and malnutrition. <\/p>\n\n\n\n

Our commitment also extends to supporting inclusion and care for people of determination. We\u2019ve partnered with the Rashid Centre for the Determined Ones for seven consecutive years and supported institutions such as the Dubai Autism Center and the Special Needs Future Development Center. Our sizable contributions to AWQAF initiatives also support sustainable causes across healthcare, education, and support for orphans and underserved communities. We\u2019re proud to be the pillar partner of the Dubai World Cup, a position we\u2019ve held for eight years and counting.<\/p>\n\n\n\n

As we look to the next 50 years, our path is clear: we will continue to build world-class developments, expand into new markets, lead across industries, and give back to communities\u2014 anchored by our enduring mission and values.<\/p>\n\n\n\n

Yawar Abbas: What\u2019s your one piece of advice for aspiring real estate developers?<\/strong><\/p>\n\n\n\n

Farhad Azizi: <\/strong>If you’re looking to succeed in real estate development, start by genuinely understanding your customers. This industry isn\u2019t just about buildings\u2014it\u2019s about creating spaces where people feel at home, secure, and fulfilled.<\/p>\n\n\n\n

Always put the client first and stay adaptable as market conditions evolve. That flexibility, paired with a commitment to quality and trust, will set you apart. Choose top-tier materials and reliable partners\u2014cutting corners might save money in the short term, but it will cost you long-term in reputation and durability. Pay close attention to your procurement process, and above all, stay transparent. Transparency earns trust, and trust builds lasting relationships. In a competitive market, the difference between a good developer and a great one lies in how well you listen, how much you care, and how consistently you deliver quality.<\/p>\n\n\n\n

But before all of that, I always remind people: real estate is the biggest industry on the planet. Roughly 80% of all debt globally is collateralized against real estate. It\u2019s not just about physical assets\u2014homes, offices, malls, infrastructure\u2014it\u2019s about what powers the broader economy. Real estate is the backbone that supports nearly every other industry, from manufacturing and logistics to technology and finance. Being part of this mother of all industries is something to take pride in. Aspiring developers need to appreciate its scale and influence, and just as importantly, identify where they can truly excel within it. Don\u2019t try to do everything. Be a designer of outcomes.<\/p>\n\n\n\n

Yawar Abbas: How do you define good design?<\/strong><\/strong><\/p>\n\n\n\n

Farhad Azizi: <\/strong>Good design is multi-dimensional, but at its core, it starts with functionality. In all our developments\u2014particularly in our latest master-planned communities like Azizi Venice and Azizi Milan\u2014functionality is paramount. We focus on intelligent space utilization, logical layout and flow, accessibility, flexibility, ample storage, natural lighting and ventilation, ergonomic comfort, privacy, technological integration, and strict adherence to safety and compliance standards. But functionality alone is not enough. Good design must also be emotionally engaging. A home should resonate in its aesthetics, on a sensory and psychological level. Visual appeal, tactile surfaces, acoustics, and even olfactory senses contribute to how a space feels. Emotional impact is deeply personal, influenced by an individual\u2019s experiences and preferences\u2014what feels like home to one person might not to another. <\/p>\n\n\n\n

Our mission is to enrich lives. That means treating every design element with intention. Each decision is backed by extensive market research, expert input, internal committee reviews, and thorough approval processes. We create spaces that are both practical and beautiful\u2014designed to enhance daily life in real, tangible ways.<\/p>\n\n\n\n

Today, luxury is no longer about excess\u2014it\u2019s about purpose. Buyers are increasingly drawn to design that offers advanced functionality rather than ornamental excess. Where emotion and logic once conflicted\u2014decorative features pleasing the eye but offering little utility\u2014that gap has now closed. Functionality itself has become emotionally satisfying. Minimalism and purposeful design have accelerated this shift, and we are proud to be at the forefront of that evolution.<\/p>\n\n\n\n

Yawar Abbas: What is the psychology of design according to you?<\/strong><\/p>\n\n\n\n

Farhad Azizi: <\/strong>The psychology of design is fundamentally about understanding how design influences human perception, behavior, and emotion. It’s not just about aesthetics\u2014it’s about creating spaces that feel intuitive, comfortable, and emotionally engaging. Good design anticipates how people think, feel, and act. It aligns with the way our minds process information and respond to our surroundings,  shaping  environments  that  support  well-being,  clarity,  and  ease  of  use.<\/p>\n\n\n\n

One core principle, for example, is cognitive load. When spaces are simple and logically structured, they reduce mental effort and make navigation and decision-making easier. Visual hierarchy also plays a critical role\u2014by using size, contrast, color, and positioning effectively, we can guide attention to what matters most. Gestalt principles help shape perception by leveraging the human tendency to recognize patterns; concepts like proximity, similarity, continuity, and closure influence how people interpret forms and group elements within a space. <\/p>\n\n\n\n

Color psychology is another powerful tool. Colors evoke emotional responses\u2014blue can instill a sense of calm and trust, while red may create a feeling of urgency or excitement. Emotional design goes beyond function, aiming to create a deep, positive emotional connection between the space and its user. Affordances and signifiers\u2014visual cues that suggest how something is used\u2014are essential for intuitive interaction; for instance, a door handle should clearly indicate whether to push or pull. <\/p>\n\n\n\n

Familiarity and consistency across design elements reduce confusion, helping users feel at ease. Additionally, offering feedback and a sense of control within the environment\u2014 whether through smart home technology or responsive layouts\u2014empowers residents and builds trust in the space.<\/p>\n\n\n\n

Moreover, our design philosophy is centered on building a sense of home and belonging. We want our residents to feel that the space understands and supports them. Our spaces are crafted to promote social interaction and active lifestyles, while spacious interiors and natural lighting create a warm, uplifting atmosphere. <\/p>\n\n\n\n

Every element\u2014from the layout to the material choices\u2014is designed to make residents feel at ease and in harmony with their surroundings. Ultimately, thoughtful design is about making life better in meaningful, often subtle ways. By deeply understanding the psychology behind how people experience and interact with space, we\u2019re able to design homes that don\u2019t just look beautiful\u2014they feel right.<\/p>\n\n\n\n

Yawar Abbas: What\u2019s your favourite dish to eat in Iranian cuisine?<\/strong><\/strong><\/p>\n\n\n\n

Farhad Azizi: <\/strong>Even though I\u2019ve grown up in Dubai, my entire extended family resides here, and I\u2019m raising my kids here, my roots are originally in Laghman, Afghanistan. Many dishes are shared between Iranian and Afghan cuisines due to geographic, cultural, and historical overlap. I don\u2019t know where to start with the countless flavorful, nutrient-dense dishes originating from that part of the world.<\/p>\n\n\n\n

That said, Kabuli Palao stands out above all. It\u2019s the national dish of Afghanistan but one that\u2019s deeply appreciated across the region, including in Iran. Fragrant basmati rice, tender slow-cooked lamb, sweet carrots, and raisins\u2014all layered together with subtle spices\u2014make it incredibly rich and balanced. It\u2019s a dish that represents hospitality, celebration, and heritage. The complexity in flavor and texture is unmatched, and it\u2019s something I always look forward to eating with family.<\/p>\n\n\n\n

Of course, Iranian cuisine also has its gems\u2014Zereshk Polo with its tart barberries and saffron rice, or Kashk-e Bademjan, the creamy eggplant dip with garlic and mint\u2014but for me, Kabuli Palao captures the heart of where I come from.<\/p>\n\n\n\n

Yawar Abbas: How can people contact you?<\/strong><\/p>\n\n\n\n

Farhad Azizi:<\/strong> Maintaining an open-door policy is key to sustained growth. I used to share my personal mobile number publicly, but that led to a flood of irrelevant sales pitches. Now, I provide my email\u2014 Farhad@azizidevelopments.com<\/strong>. My team filters messages, and anything that requires my attention and action will reach me.<\/p>\n","protected":false},"excerpt":{"rendered":"

Longtrepreneur continues to bring the best-in-class tech and business leaders to get their take on long-term thinking in the<\/p>\n","protected":false},"author":2,"featured_media":360,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,3],"tags":[20,171,175,170,172,166,23,176,9,19,169,174,167,168,173],"class_list":["post-358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-take-the-l","tag-apple","tag-azizi","tag-building","tag-burj","tag-development","tag-dubai","tag-investing","tag-legacy","tag-long-term","tag-meta","tag-milan","tag-tallest","tag-uae","tag-venice","tag-villa"],"_links":{"self":[{"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/posts\/358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/comments?post=358"}],"version-history":[{"count":2,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/posts\/358\/revisions"}],"predecessor-version":[{"id":365,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/posts\/358\/revisions\/365"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/media\/360"}],"wp:attachment":[{"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/media?parent=358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/categories?post=358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/tags?post=358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}