Eduen Mobayed Practice Group Leader, Dubai
Real Estate Services
The global Real Estate industry is in flux. In recent years, large amounts of investment capital flowed into the industry on the basis of optimistic higher growth projections and − more recently − as a safer asset class for investment. Since 2008 the investment climate for both residential and commercial real estate has experienced a dramatic change in response to the financial crisis which affected highly leveraged markets in particular. Again more recently, we have witnessed some level of recovery and activity in certain growth markets specifically in retail/commercial and to some extent in select residential offerings.
Real Estate is still mainly a very local business and sector. However, we are starting to see key players adopting a regional focus across borders, trying to apply development processes in this dynamic and challenging industry. As a result, these global and regional players are seeking leaders with the competence and skills to successfully operate in and cope with such a demanding, competitive and at times crowded environment.
What skills are needed now?
To thrive in this new environment, executives will need an exceptional understanding and knowledge of the Real Estate market (fundamentals, influencers, dependency and dynamics), combined with: a regional/international/cross-cultural leadership mindset, robust risk management skills and contingency planning know-how. Strong organizational and stakeholder leadership combined with a fast-paced and forward-thinking perspective on development and scenario planning will allow Real Estate leaders to structure unique deals that will maintain viability and profitability in dynamic, fluid markets.
How can Egon Zehnder support the Real Estate industry?
Egon Zehnder’s global Real Estate Practice has in-depth experience in the key segments of the Real Estate value chain – be it from an asset investment or real estate development angle. Our expertise and track-record enable us to support clients across the whole spectrum of Real Estate activities, including: property developers, real estate advisors and managers, asset management firms/institutional real estate investors or private equity funds/REITS, hedge funds/real estate fund of funds, investment/corporate banks, infrastructure developers and investors, and property-intensive companies such as retailers or resort and hospitality developers. We focus on supporting clients in their the identification, assessment, recruitment and development of talented leaders with an exceptional knowledge of the Real Estate sector.
How we operate
Over the past five years, we have completed over 550 searches, working with clients on senior leadership roles (C-suite, Head of Asset Management, etc.) in development, planning, design, construction, projects/program management, infrastructure, property investment, Real Estate financing, and fund/asset management. Additionally, working closely with our clients, we have assessed over 1,500 executives and managers in their organizations in respect of leadership development. Our client base is international and our searches have an increasingly strong cross-border element. The worldwide experience assembled within our global Real Estate Practice, with consultants who are experts in Real Estate across their respective markets, enables us to easily assemble international teams as we offer our clients tailored partnering solutions.