Royal Development, SAAS Properties sell out phase 1 of major branded residence project
This rapid sell-out reflects the growing investor and buyer confidence in Abu Dhabi's premium residential market and the rising demand for globally branded, experience-led living.
Royal Development Holding and SAAS Properties and are now accepting expressions of interest for its second phase, which is expected to attract similarly strong demand.
Tariq Nazzal, general manager of Royal Development Holding said: 'Seamont Residences introduces a new benchmark in premium waterfront living. Embodying the authentic and unique character of Autograph Collection properties, every element within the project demonstrates our mission of evolving spaces and elevating lives. Boasting open-sea views, world-class amenities and direct access to the capital's cultural and commercial hubs, the exceptional sales performance of Phase 1 illustrates Seamont's premium positioning and undeniable appeal.'
Ahmed Al Qassimi, CEO of SAAS Properties, added: 'Seamont is a testament to our commitment to thoughtful design, innovation, and community-centric living. It stands out as a distinctive destination that merges elegance, comfort, and a curated lifestyle experience that redefines branded residences in the capital.'
The Dh1.6 billion project will be Abu Dhabi's first Autograph Collection branded residences, marking a milestone in the city's luxury residential landscape and offering residents the curated hospitality and lifestyle experience synonymous with Marriott.
Strategically located near Downtown Reem Island, Maryah Island, Louvre Abu Dhabi, Saadiyat Beach Club and Abu Dhabi International Airport, the development offers unparalleled connectivity and urban convenience. Overlooking the canal, Seamont features 497 units, including 1-to-3-bedroom apartments, 4-bedroom townhouses and signature penthouses offering panoramic views of the Arabian Gulf and Saadiyat Island's cultural district.
Residents will benefit from concierge and 24/7 housekeeping services, as well as access to a thoughtfully curated suite of wellness and lifestyle amenities, including pools, a kids' club, a cinema, a games room, a residents' lounge, fully-equipped gyms, spa facilities and outdoor zones for yoga, meditation, family recreation and leisure. Seamont homeowners will also enjoy enhanced benefits through the Marriott Bonvoy Loyalty Program, including automatic Gold Elite status and exclusive lifestyle privileges.
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Gulf Business
11 minutes ago
- Gulf Business
Sterling Perfumes' Dr Ali Asgar Fakhruddin on turning a family-run firm into a global brand
Images: Supplied Step into the sleek, fragrance-dotted offices of As chairman and CEO, Dr Fakhruddin isn't merely following trends; he believes in meticulously setting them – in exquisitely designed glass bottles, in lingering scent trails, and in immersive experiences that resonate deeply with consumers long after the first spritz. 'If your ambition isn't audacious, you're playing it too safe,' he shares – a statement delivered with the quiet, assured confidence of someone who has guided a UAE-born beauty and lifestyle brand into a powerhouse with presence in over 132 countries – and whose sights are still set on expanding those horizons even further. 'My father, Fakhruddin Ebrahimiji, came to the UAE with just five rupees in his pocket,' Dr Fakhruddin shares, his voice carrying a soft conviction that distills decades of persistence and purpose. 'That legacy drives every decision we make.' This foundational philosophy instilled by his father – that 'success should create value across the board – for our suppliers, employees, partners, and consumers' – remains the guiding star. 'That's what my father believed. That's how I lead,' he affirms, clarifying how this core principle has been instrumental in transforming the business – as part of the larger Sterling Group – into a regional powerhouse. A legacy built on scent and scale What began with a modest daily production of just 250 units has since scaled dramatically to over 250,000 units daily, a testament to the company's manufacturing capabilities and strategic growth. This growth mirrors the global demand for fragrances. Dr Fakhruddin also keenly observes the evolving consumer relationship with fragrance. 'Fragrance is no longer a silent luxury,' he states. 'It's a mood, a memory, an identity. People want to belong to something.' This profound understanding has been a driving force behind Sterling's sustained success. The company's product portfolio has meticulously evolved to mirror this philosophy: ARMAF embodies bold, expressive confidence; Hamidi pays homage to rich Middle Eastern perfumery; Cosmo offers accessible, trend-forward personal care essentials; and Armaf Beauté brings inclusive, high-performance colour cosmetics to the forefront. 'Each product is designed to reflect identity, celebrate individuality, and provide aspirational quality without the luxury price tag,' he explains, highlighting Sterling's commitment to quality and accessibility. Recent launches, such as Odyssey Dubai Chocolat and Eter Desert Breeze, serve as prime examples of how Sterling transforms scent into compelling narratives of the past meeting the present and preparing for the future. Blending heritage with innovation Dr Fakhruddin says, 'We've always believed that innovation and heritage can coexist. One doesn't cancel the other. Our job is to honour the past while creating the future of fragrance,' he asserts, outlining the dual pillars of Sterling's approach. This progressive ethos has positioned Sterling as a compelling case study in intelligent, sustainable growth. The company makes significant investments in consumer insights, comprehensive digital transformation, and the creation of immersive brand experiences that resonate deeply with modern audiences. 'Dubai Chocolat, for example, didn't just launch as a perfume,' he reiterates, 'It became a moment. A story told in scent, design, emotion. That's what people remember.' Sterling's retail strategy is equally innovative, featuring multi-sensory pop-ups and product drops meticulously supported by story-rich campaigns specifically designed to spark connection, particularly across social platforms. Influencer-hosted masterclasses, virtual try-ons, and behind-the-scenes content are now considered as vital to the brand's engagement as the fragrance itself. Dr Fakhruddin emphasises the strategic imperative behind every launch: 'Everything we launch has to deliver an impact – emotionally and commercially. If it doesn't feel right to the consumer, we go back to the drawing board.' This commitment to consumer resonance ensures that every product serves a purpose beyond mere scent. Scaling with cultural storytelling Sterling's marketing strategy is a direct reflection of its core values: storytelling, transparency, and authenticity. Collaborations with regional influencers are meticulously built on fostering long-term relationships, moving beyond mere one-off campaigns. 'Creators are co-authors of our story,' Dr Fakhruddin states. 'They bring our brands to life in ways that feel real.' This collaborative approach ensures that the brand narrative is not just delivered but co-created with voices that resonate authentically with diverse audiences. 'Our strategy is rooted in building real relationships; long-term partnerships with creators who align with our values and bring our stories to life with authenticity,' Dr Fakhruddin asserts. The company has proactively supported creators globally, assisting them in expanding their platforms while integrating them into significant brand launches, ranging from live events to virtual rollouts. Through these initiatives, Sterling has successfully cultivated a vibrant and engaged community that bridges Eastern and Western cultural sensibilities. 'This cross-cultural ecosystem has become one of Sterling's most powerful brand assets,' Dr Fakhruddin adds. 'People today don't just want to buy. They want to connect. Our brands are built to start conversations,' he adds, highlighting Sterling's commitment to fostering community and engagement through its products. Sterling also operates on a global scale while meticulously maintaining profound cultural relevance alongside a consistent brand identity. 'At Sterling, our DNA is defined by timeless values: quality, trust, creativity, and emotional storytelling. These remain consistent across every touchpoint,' Dr Fakhruddin explains. 'But we also understand that culture is not monolithic. What resonates in Riyadh may not connect in Paris or Los Angeles. That's why we lead with global consistency and local resonance.' This strategic balance involves empowering regional teams and distributor networks to meticulously tailor messaging, spotlight varying fragrance notes, and adapt campaign narratives to suit their specific markets. 'This global-local balance helps us remain deeply rooted in our origins while celebrating the diverse sensibilities of our audiences,' he notes. The company employs a multi-layered approach to integrate regional trends into its global product roadmap. 'But we also listen on a deeper level: what are people longing for? What emotional gaps can fragrance fill in a specific culture?' Dr Fakhruddin states, emphasising the qualitative aspect of their research. Regions like Saudi Arabia continue to serve as a significant and rich source of inspiration, particularly with their deep-rooted traditions and highly distinctive scent rituals. Markets such as India offer a compelling and vibrant fusion of wellness concepts, profound cultural heritage, and modern, expressive forms of self-expression. Meanwhile, the US and Latin American markets provide crucial insights into lifestyle-driven marketing strategies and pioneering innovations in digital-first discovery methods. When a regional trend demonstrates clear alignment with Sterling's core values and exhibits a strong potential for broader, global appeal, the company strategically and carefully cultivates it into its mainstream offerings, says the chairman. Reinventing fragrance retail With contemporary retail fundamentally transcending its traditional function as a mere transactional space, evolving dynamically into a vibrant platform for active engagement and deeply immersive experiences. Sterling is at the forefront of this evolution, meticulously reinventing fragrance retail by seamlessly blending compelling physical storytelling with cutting-edge digital innovation. 'Retail today is not just a space for transactions. It is a platform for engagement and immersion,' Dr Fakhruddin explains, articulating this transformative vision. From its renowned 'Perfume Wall' installations – which it unveiled to celebrate its 25th anniversary two years ago – to its multi-sensory pop-ups, the overarching objective is to meticulously transform every retail encounter into a truly unforgettable experience. Travel retail has also emerged as a particularly successful and strategic channel for Sterling, offering exclusive campaigns and limited-edition product formats meticulously curated to cater to the discerning tastes and unique needs of global travellers. Sterling is also strategically investing in advanced, technology-enabled retail environments, meticulously designed to empower consumers to interactively explore collections, seamlessly access digital content via scanning, and personalise their fragrance discovery journey. experience. Digital transformation for agility The focus on digital transformation has also complemented the company's operations. For Dr Fakhruddin, 'Digital agility isn't about tools; it's a mindset.' He details how his teams are meticulously structured into agile, cross-functional pods, designed to accelerate product development and optimise marketing efforts. Powered by advanced SAP systems and sophisticated analytics, the company possesses the capability to adapt swiftly to evolving market trends and nuances in consumer behavior in real-time. A cornerstone of this agile approach is the decentralised, people-first culture. 'Our junior team members often lead digital ideas. Everyone has a voice,' he explains, fostering an environment where fresh perspectives are not just welcomed but actively sought. This empowers the company to innovate with remarkable speed and a distinct soul, where formal titles are less significant than individual initiative, and leadership is fundamentally about nurturing talent rather than merely directing tasks. 'We're not a top-down company,' he states emphatically. 'We share failures. We celebrate wins together. That's how you build long-term loyalty.' This transparent and collaborative culture builds robust internal bonds and encourages continuous improvement. Sustainability: An embedded responsibility When it comes to sustainability – a key consideration for the fragrance and beauty industry, it transcends a mere marketing theme for Sterling, the chairman says. 'For us, sustainability is not a marketing theme, and we actively want to avoid green washing. It's a responsibility embedded in how we create,' Dr Fakhruddin states, articulating the core principle. The strategic advantage of in-house manufacturing provides the company direct and comprehensive control over every aspect of product development, from the initial meticulous sourcing of ingredients to the final packaging decisions. Sterling maintains exclusive partnerships with long-term, meticulously vetted suppliers who unequivocally prioritise ethical sourcing, comprehensive ingredient traceability, and rigorous environmental responsibility. The company is progressively incorporating clean formulations and strategically introducing refillable, eco-conscious packaging solutions across its major product lines. As Sterling strategically expands its presence into wellness and beauty categories, its robust sustainability framework adapts accordingly, ensuring consistent responsible practices across new ventures. Every product is consciously designed with responsibility in mind, without compromising performance or the desired sensory delight. 'Our ambition is to build products that last – in impact, purpose, and trust,' Dr Fakhruddin articulates, outlining a vision of enduring value. The expansion playbook Sterling is not merely expanding its geographical footprint; it is strategically redefining its very categories. Through Armaf Beauté, the group has successfully launched a range of high-performance, inclusive cosmetics, directly responding to market demands for diverse and clean beauty solutions. Concurrently, Cosmo, another key brand, effectively competes with global giants by offering clean, affordable personal care essentials, demonstrating Sterling's ability to deliver value across different market segments. 'We're building a full-sensory lifestyle brand,' Dr Fakhruddin confirms, outlining an ambitious diversification strategy. This includes extending the brand's presence into home ambiance with sophisticated room sprays, evocative incense, and elegant aromatic diffusers, alongside body mists and a growing array of cosmetics. 'Fragrance isn't just something you wear. It's how you live,' he states, capturing the essence of this holistic vision. This strategic diversification is not opportunistic. Rather, each new product must pass a critical test: does it deliver an emotional connection to the consumer? 'If it doesn't,' he asserts with unwavering resolve, 'it doesn't ship.' The company is also actively exploring strategic partnerships with various lifestyle and fashion brands, aiming to further extend its market reach and enhance its brand presence across complementary sectors. 'This is just the beginning. We want Sterling to be creating experiences that are personal, purposeful, and immersive,' Dr Fakhruddin concludes, encapsulating the future trajectory. For the leader, the definition of success for Sterling over the next five years is measured fundamentally by its relevance and resonance within the global market. 'Success, for us, is measured in relevance and resonance,' he states, emphasising the qualitative aspects of their future achievements. The goal is for Sterling to be recognised worldwide not solely as a perfume manufacturing company, but as a lifestyle curator that empowers individuals to express themselves more vibrantly, live more beautifully, and engage with their surroundings more mindfully. This vision entails Sterling products seamlessly integrating into daily rituals, whether found in a dressing room in Paris, a living room in Riyadh, or a handbag in Mumbai. Achieving this ambitious goal necessitates thoughtful and purposeful market expansion, strategic entry into new geographies, and a continuous commitment to leadership in quality, innovation, and inclusivity. On a deeply personal level, Dr Fakhruddin hopes to establish a lasting legacy that unequivocally proves how a dream, originating from a humble five rupees, can evolve into a world-class enterprise – provided one leads with genuine sincerity, empowers their teams, and remains steadfastly rooted in a core purpose. 'Sterling will always be a tribute to that belief,' he affirms, encapsulating the profound essence of the brand's remarkable and ongoing journey. ————————————————————————————————————————— Brief notes: Dr Ali Asgar Fakhruddin on leadership, innovation and success On legacy and purpose: 'My father came to the Arab world with just five rupees in his pocket. That legacy drives every decision we make.' On his leadership style: 'My leadership style is deeply influenced by my father's ethos: leadership is not about power or control; it's about empowerment, trust, and growing people. I lead with transparency, empathy, and a deep sense of responsibility toward our teams.' On innovation: 'We've always believed that innovation and heritage can coexist. One doesn't cancel the other.' On scaling globally: 'From the beginning, I wanted to build a brand the world could respect — but that never forgot where it came from.' On product development: 'Each product must deliver an emotional connection. If it doesn't, it doesn't ship.' On culture: 'Our culture is built around freedom to work, decision-making at all levels, and the belief that innovation thrives where people feel seen, valued, and trusted. Digital agility isn't about tools; it's a mindset. Our junior team members often lead digital ideas. Everyone has a voice.' On success: 'Success should create value across the board — for our suppliers, employees, partners, and consumers.' On sustainability: 'We don't greenwash. We build to last — in impact and in trust.' On purpose-driven branding: 'People today don't just want to buy. They want to connect.' On generational thinking: 'We see sustainability not as an obligation, but as a responsibility to future generations.' On global impact: 'When I see someone using one of our products in another country — someone I've never met — I feel a quiet pride. That's impact.'
Khaleej Times
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UAE set to attract 50,000 millionaires over five years, says Wealthbrix Capital CEO
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Khaleej Times
2 hours ago
- Khaleej Times
Indian universities in UAE: IIMA Dubai's Dh294,000 fee for MBA covers visa, insurance costs
India's top-ranked business school, the Indian Institute of Management Ahmedabad (IIMA), will open its first international campus in Dubai in September 2025, with the cost of its flagship one-year MBA pegged at $80,000 (Dh294,000) — an all-inclusive fee that covers tuition, visa, insurance, and campus facilities. In an exclusive interview with Khaleej Times, Professor Bharat Bhasker, Director of IIM Ahmedabad, said: 'The programme fee for the one-year MBA at IIMA Dubai is $80,000 (including tuition fees, books, course material, visa fees, medical insurance and use of other facilities like library, network, and campus infrastructure). We offer entry and exit scholarships based on merit to all students.' IIMA is currently ranked 27th in the QS Global MBA Rankings, and its inaugural cohort at the international branch campus will consist of 40 to 50 students, with plans to scale up to 900 students over the next decade. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Strategic location, local focus The new campus will be housed at Dubai International Academic City (DIAC) in its initial phase, offering a multicultural academic hub. A permanent campus is set to open by 2029, on land allocated as part of the collaboration between the UAE and India. The announcement followed a high-profile visit in April by a UAE delegation led by Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. During the visit, an MoU was signed between Bhasker and Helal Saeed Almarri, Director General of Dubai's Department of Economy and Tourism, marking a milestone in bilateral education cooperation. Research centres to align with D33 agenda IIMA plans to launch two key research centres in the first year of its Dubai operations. 'In the first year of the Dubai Campus, we plan to establish two dedicated research centres — one will focus on case writing and development, and the other will be on start-up incubation,' said Bhasker. 'As the campus grows, we aim to expand our offerings to include a wider range of programmes, including Open Enrolment and Customised Executive Education Programmes.' Long-term, the institute plans to align research with Dubai's D33 economic agenda, with specialised centres in fintech, AI, retail, and supply chain. IIMA is also exploring partnerships with local technology labs working on Artificial Intelligence and robotics. Admissions close soon Applications for the full-time, one-year MBA in Dubai are open until July 31. The admission process is highly selective, following a two-stage evaluation based on valid GMAT or GRE scores taken within the past five years. 'The candidates will require a minimum of four years of full-time work experience after graduation,' Bhasker added. Academic model mirrors India's programme The Dubai MBA will closely resemble IIMA's globally respected MBA for Executives (PGPX) in India, which has been running for two decades and was recently ranked #1 in Career Progress by the Financial Times Global MBA Ranking 2025. 'The programme will be similar to the MBA-PGPX in India, which has been successfully running for two decades and has achieved global recognition. Furthermore, IIM Ahmedabad faculty will teach the first batch in Dubai. Over time, full-time faculty will also be recruited at the Dubai Campus,' said Bhasker. Students will follow a five-term structure, undertake an independent research project, and have the option for international immersion, all designed to provide hands-on exposure to management in different global contexts. 'Our first full-time one-year MBA programme for the Dubai campus is designed to cater to the advanced management learning and upskilling needs of global working professionals and entrepreneurs,' added the Director of IIM Ahmedabad. 'This immersive programme, with IIMA's acclaimed case method pedagogy, aims to equip ambitious professionals with cutting-edge business insights to navigate global market challenges and prepare them for C-suite leadership while aligning with the UAE's vision for innovation, entrepreneurship, and economic growth.' Building regional relevance through case studies Notably, IIMA already has a portfolio of nearly 5,000 case studies, but the Dubai campus will bring a regional lens to its pedagogical approach. 'Our case method pedagogy is the cornerstone to bridge the gap between industry and academia,' said Bhasker. 'We are actively researching and writing cases on organisations in the UAE and GCC to help create pertinent exposure for our students.' Cross-border education also opens new opportunities for knowledge exchange, benefitting both IIMA's Indian and Dubai campuses. 'IIMA is an institute of global repute, which is recognised for excellence in management education, research, and leadership development,' he added. 'Over the past 60 years, our faculty members and alumni have contributed significantly to policy and practice globally, and many of them have also gone on to lead some of the largest organisations in the world.'
