In the ever-evolving world of luxury, 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 an 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. They delve into Abbas’s journey, insights on the luxury real estate market, and the innovative spirit that drives AHS Properties forward in an ever-changing industry.
Alexander Chetchikov (AC): 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. A 2023 report by Bain & Company observed that the global luxury market is projected to reach EUR 1.2 trillion by 2025, with a notable increase in demand for personalized experiences and eco-conscious products. 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. Luxury real estate, therefore, 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 examined how VR and AR are changing real estate marketing, especially in the luxury segment. The study revealed that these immersive technologies enable future homebuyers to experience remote property walkthroughs like never before, enhancing their ability to visualize living in a luxury home from afar.
As buyers become savvier and demand increasingly personalized experiences, VR and AR tools have entered the luxury real estate market. A 2023 report by the VR/AR Association showed that over 40 percent of real estate professionals have integrated VR or AR into property marketing, a trend that has accelerated in the wake of the pandemic. This movement towards remote engagements is likely to continue, allowing clients to engage in the most realistic virtual property viewings tailored to their preferences.
Data analytics are also enabling stronger bonds between consumers and brands by personalizing offerings based on customer behaviors. In the coming years, I foresee even more AI-driven customer service and smart home technology enhancing luxury living and making it more convenient and enjoyable.
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 luxury brands must authentically integrate sustainability without compromising exclusivity. This includes sourcing materials that prioritize environmental considerations and employing green building practices, designed to minimize negative impacts from energy-consuming equipment like lighting and heating. Today’s luxury consumers are increasingly willing to invest in sustainable products and homes. Therefore, developing houses with green certifications (like LEED and BREEAM) and offering nature-focused experiences 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, several trends will significantly impact luxury real estate, particularly in dynamic markets like Dubai and the broader UAE. One of the most notable is the growing focus on wellness-driven living, with developments designed to enhance well-being both physically and mentally, incorporating features like spas and fitness centers. Additionally, the shift to remote work has created demand for larger homes with dedicated office spaces. Luxury developments with flexible layouts and advanced technological amenities will continue to be highly desirable.
To keep pace with these trends, developers must invest in smart home technologies and wellness features that cater to evolving lifestyle preferences. This proactive approach will ensure they remain competitive in the marketplace.
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 born from a vision to create world-class architecture fused with green practices, redefining ultra-luxury living. Our development strategy is anchored in key principles: quality, bespoke experiences, and community integration. We adhere to the belief that true luxury is not just about creating spaces for our clients but also about enhancing lifestyle for society. Our designs reflect the values, ambitions, and desires of our clients while being sustainable and innovative.
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 believe in fostering a culture that promotes creativity and inclusivity. Every team member’s input is highly valued and integral to our success. My personal journey navigating complex projects and diverse markets has instilled in me the importance of adaptability and open communication. I prioritize building strong relationships with clients, stakeholders, and team members, cultivating a shared vision for every project. This collaborative spirit not only inspires innovation but ensures our developments resonate deeply within 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: We adopt an intensely client-focused approach right from the onset of each project through to its completion. This process begins with understanding our clients’ lifestyle preferences and aspirations, allowing us to design homes that reflect their unique identities. Regular interactions during the development cycle, where we update clients and incorporate their feedback, are crucial. Working with hand-selected designers and top-tier architects ensures that every element is crafted to exceed our clients’ needs.
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: My vision for AHS Properties is to set new benchmarks in luxury living through the integration of cutting-edge technology, sustainability, and exceptional design. We aim to broaden our portfolio with iconic projects that not only serve as residences but also cultivate a sense of community.
Our future innovations will focus on leveraging new technologies and best building practices while venturing into emerging luxury markets. Our commitment to craftsmanship and customer satisfaction will remain paramount, ensuring we meet and exceed the evolving needs of our discerning clientele. The dedication to quality and service we’re known for will continue to be strong, even amidst the exciting changes taking place in our industry.
As we celebrate excellence in luxury lifestyles, I encourage a thoughtful consideration of how authenticity and sustainability shape our choices moving forward. The future of luxury will be not just defined by ownership but also the creation of meaningful experiences and connections.
Explore AHS Properties and the projects here: https://www.ahs-properties.com/
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