What projects are in Ominyat’s $1bn pipeline?
Omniyat Group, a Dubai-based developer is to announce a AED5 billion ($1.36 billion) project pipeline over 2017/18, increasing Omniyat’s already large Dubai portfolio. The current Dubai profile is made up of AED16 billion worth of schemes either completed, in construction or about to enter construction.
Its current portfolio includes the One Palm luxury residential scheme, currently under construction on Palm Jumeiah, and several existing schemes in the Dubai Water Canal/Business Bay area, such as the Opus mixed-use building.
The new projects are said to be announced from the first half of 2017, and are said to include an ultra-luxury hospitality scheme on the new Dubai Water Canal and a hotel-led scheme on the Business Bay section of the canal. The new scheme will also include residential apartments and food and beverage outlets. It is the largest canal-facing project to date, with over 220 metres of waterfront on the widest part of the canal.
Mehdi Amjad, executive chairman and founder of Omniyat, told Arabian Business: “We are preparing to announce an additional AED5 billion of projects that we will be launching in 2017-2018. We have a hospitality product that we will be announcing in the first half of 2017. This will be an extremely unique offering – one of our ultra-prime projects, which will be a mix of hospitality and a serviced residential component. We have not announced this yet, it will be formally launched in early 2017. It is a very lovely, beautiful project and one of our really top-end hospitality schemes.” The pipeline also contains projects targeting the midmarket segment in locations such as Dubailand and around Sheikh Zayed Road, Amjad revealed, although he said these were at an earlier stage. “We are looking to create the same premium offering for the mid-segment of the market and are examining opportunities here. That is more in the next 4-5-year horizon, though.”
5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly
Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.
Here, Business Chief talks to Janthana about her leadership style and skills.
What do you do, in a nutshell?
I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.
How would you describe your leadership style?
I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.
What’s the best leadership advice you’ve received?
Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.
How do you see leadership changing in a COVID world?
I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.
They say ‘from every crisis comes opportunity’, what opportunities do you see?
The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless.
What advice would you give to your younger self just starting out in the industry?
Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.