When it comes to luxury real estate, a few names stand out like Abbas Sajwani, the visionary founder and CEO of AHS Properties. With a keen understanding of the ultra-luxury real estate market, Abbas has made significant strides since launching his company in 2021. Under his leadership, AHS Properties has quickly gained recognition for creating exquisite, bespoke living spaces tailored for ultra-high-net-worth individuals.
In this exclusive interview, Alexander Chetchikov, President of the World Luxury Chamber of Commerce, sits down with Abbas to explore the nuances of luxury today, the impact of digital transformation, and the future of high-end living. Together, they will delve into Abbas’s journey, his insights on the luxury real estate market, and the innovative spirit that drives AHS Properties forward in an ever-changing industry.
Alexander Chetchikov: In your perspective, how has the definition of luxury evolved in recent years, particularly in light of changing consumer expectations and societal values? What does “luxury” mean to you today?
Abbas Sajwani: The definition of luxury has shifted significantly in recent years, driven by changing consumer expectations and societal values. Traditionally, luxury was synonymous with opulence—grand estates, expensive materials, and exclusive brands. However, contemporary consumers, particularly millennials and Gen Z, prioritize experiences, sustainability, and authenticity over materialism. This is supported by research. A 2023 report by Bain & Company, has observed that the global luxury market is projected to reach €1.2 trillion by 2025, with a notable increase in demand for personalized experiences and eco-conscious products. Additionally, the rise of the “experience economy” has prompted luxury brands to rethink their offerings, focusing on meaningful interactions and exceptional service.
Today, luxury transcends traditional definitions. It embodies a unique blend of quality, craftsmanship, and exclusivity while being closely intertwined with emotional resonance and social responsibility. Luxury is about creating environments that provide comfort and beauty, tailored to the individual’s lifestyle and aspirations. It’s also about transparency in sourcing and production, reflecting a brand’s commitment to ethical practices. In short, luxury real estate, today translates to bespoke homes that are not only visually stunning but also sustainable and integrated into their surroundings, providing an enriching living experience.
AC: The luxury sector has seen significant shifts due to digital transformation. How do you believe technology has impacted the luxury experience for consumers, and what role do you see it playing in the future?
Abbas Sajwani: A 2023 study by the National Association of Realtors looked at how VR and AR are changing real estate marketing, particularly in the luxury segment. The study shows that such immersive technologies let future homebuyers have a wide variety of remote property walkthroughs with new levels of customization, previously unthinkable, hence making it much easier for them to imagine, and even dream, about living in a luxury home of their own, from afar.
With buyers getting savvy, and demanding an increasingly sophisticated and personalized experience, VR and AR tools have been introduced to the luxury real estate market. Many companies in the luxury real estate business, have embraced this change to stay ahead of their competitors.
Another report by the VR/AR Association in 2023 also pointed out that more than 40% of real estate professionals have already integrated VR or AR into property marketing, while the trends accelerate further in the wake of the pandemic, all of which accelerated movement toward remote engagements around the world. This will enable future clients to actively participate in the most realistic virtual property viewing, designed to meet their needs and expectations, thus encouraging further development of VR and AR in the Luxury Real Estate sector. This technology will make buying not only easier but also facilitate decision-making by buyers and sellers in the high-end market.
Data analytics also allows for the creation of experiences that permit stronger bonds between consumers and brands, by personalizing the offerings based on customer behaviors. And in the years to come, I see even more AI-powered customer service, and smart home technology in every field, making life a little bit easier for everyone and enhancing luxury in everyday living.
AC: As consumers become more environmentally conscious, how do you think luxury brands should adapt to incorporate sustainability into their offerings without compromising on exclusivity?
Abbas Sajwani: The rise of environmental consciousness means that luxury brands must authentically integrate sustainability, without compromising on exclusivity. This includes sourcing materials that are designed with the environment in mind and using best practices of green building, which means designing to reduce negative outcomes from energy depletion equipment, such as lights, and heating. Today, we find that more luxury consumers are open to spending extra on sustainable goods and homes. Developing homes that are given green certification (LEED, BREEAM), and offering experiences focused on nature, luxury developers can appeal to this growing demographic.
AC: What trends do you foresee shaping the future of luxury real estate in the coming years, especially in a dynamic market like Dubai? How can developers stay ahead of these trends?
Abbas Sajwani: In the next few years, a lot of these trends will have notable implications for luxury real estate, particularly in dynamic markets such as Dubai and the UAE overall. This includes the desire for wellness-driven living, with developments and properties crafted to promote overall well-being, both physically and mentally, including biophilic designs, such as spas and fitness centers. Moreover, the move towards working from home has driven demand for bigger homes with separate offices. I think luxury developments with flexible layouts and sophisticated tech amenities, will continue to be highly sought after in the future. It is also important to invest in smart home technologies and wellness features that will cater to lifestyle preferences as trends change. This will ensure developers stay ahead in the industry.
AC: You launched AHS Properties in 2021 with a clear focus on ultra-luxury real estate. What inspired you to establish this company, and what key principles guide its development strategy?
Abbas Sajwani: AHS Properties was established with a vision to create world-class architecture, fused with green practices and redefinition of ultra-luxury living. Our development blueprint is based on several key principles, which are quality, bespoke experiences, and community integration. We strongly hold the philosophy that true luxury is not only creating spaces that cater to our clients but adding it on as a layer of lifestyle for the betterment of society as well. Our designs are therefore expressions of the values, ambitions, and desires of our clients, as well as being sustainable and innovative by nature.
AC: As a leader in the luxury real estate sector, how would you describe your leadership style? What personal experiences have influenced your approach to building AHS Properties?
Abbas Sajwani: I strongly believe in creating a culture where creativity and inclusivity can flourish, and where every team member’s input is highly valued and considered. My personal experiences in navigating complex projects and diverse markets, have taught me the importance of adaptability and open communications. I prioritize building strong relationships with clients, stakeholders, and team members alike, all of which help cultivate a shared vision for each project. This collaborative spirit not only drives innovation but also ensures that our developments resonate deeply with the luxury market.
AC: AHS Properties is known for its bespoke mansions and villas. How do you ensure that each project not only meets but exceeds the expectations of your ultra-high-net-worth clients?
Abbas Sajwani: By taking an intensely client-focused approach from the outset of a project, through to its completion, we can ensure every detail meets and exceeds the expectations of our ultra-high-net-worth clients. We achieve this through a personalization process, starting with an in-depth understanding of their lifestyle preferences and aspirations, to designing homes that are reflective of who they really are and their unique identities. It is important for us, to have regular interactions during the development life cycle, wherein we update clients, take their approval, and act as per the feedback they give us. Working with hand-selected designers and top-tier architects who complement our long-standing desire for perfection, also means that every aspect has been crafted to go beyond the needs of our clients.
AC: Looking ahead, what is your vision for AHS Properties over the next decade? How do you plan to further innovate and elevate the luxury living experience for your clients?
Abbas Sajwani: Looking ahead, my vision for AHS Properties is to set new standards in luxury living by integrating cutting-edge technology, sustainability, and unparalleled design. We aim to expand our portfolio with more iconic projects that not only serve as residences but also foster a sense of community.
Over the next decade, we will continue to innovate by incorporating new technologies and best-building practices while exploring opportunities in emerging luxury markets. Our commitment to craftsmanship and client satisfaction will remain at the forefront, ensuring that we not only meet but anticipate the needs of our discerning clientele.
The dedication to quality and customer service that we are known for, will not waver–even within the exciting changes happening in our industry—it will continue to meet, and anticipate the needs of our discerning clientele.
Finally, I would like to conclude by saying that as we celebrate excellence in the luxury lifestyle, I encourage everyone to consider the evolving landscape of luxury and the importance of authenticity and sustainability in their choices. The future of luxury is not just about ownership, but also about creating meaningful experiences and connections.
With this dynamic market on our side, let us navigate it with innovation and responsibility, to ensure that luxury continues to play a positive role in inspiring and uplifting our communities.
With a firm belief in creating remarkable living experiences, Abbas is poised to further revolutionize the luxury market in Dubai and beyond. Looking ahead, it is clear that the dialogue on luxury will remain dynamic, and those who embrace change will continue to thrive in this competitive arena.
Explore AHS Properties and the projects here: https://www.ahs-properties.com/
