Some careers are built on luck, others on timing, and a few on the ability to read a city as it evolves. Atif Rahman’s story sits in the last category. After arriving in Dubai with a one-month escape plan, the founder of ORO24 Developments went on to build three real estate ventures shaped by the city’s pace, ambition and appetite for reinvention. Here, he shares his remarkable journey that complements Dubai’s own success story.

When you look back, what first brought you to the UAE, and what have been the defining chapters in that journey that shaped both the person and entrepreneur you are today?

I arrived in Dubai 22 years ago as a young newly married man, telling myself I would head home within a month if it didn’t feel right. Instead, the city pulled me in completely, and I can honestly say it has given me everything I have today. The rest is history and I won’t be wrong in saying that this city has given me everything I have today.

My journey in Dubai started as a founding member of a team building an exciting property development firm, Advance Construction Works. We saw the highest of highs until 2008 and then the global economic meltdown taught us the toughest lessons of delivering real estate projects during the toughest times. This journey lasted until end of 2013, and it taught me the resilience in navigating through unfavourable times.

Then in January 2014, as part of the core team, I helped lay the foundation of Danube Properties, under which I launched several successful projects across several locations of Dubai mastering the art of land acquisition, joint ventures, real estate sales, consumer financing, construction management, supply chain management and project delivery through some glorious years and some tough periods like Covid-19.

In Q4 2021, I parted ways and laid the foundation for ORO24 Developments, my third property development venture in the city of real estate. The idea behind my latest venture was to build disruptive real estate led by governance, risk mitigation and supported by technology. Today, ORO24 delivers community led real estate with forward integration as a turnkey solution to the consumer.

The defining moment for me has always been the visionary leadership of the city. Like I always say, Dubai is a unique city where the government sector is ahead of the private sector, always offering the direction for the future. I continue to learn and evolve in this great city which continues to transform.

You have seen Dubai navigate multiple economic cycles, from the 2008 financial crisis to Covid-19 and beyond. Having lived and built through those moments, why do you remain confident in its ability to emerge strongly from periods of uncertainty?

Let me share my observations of few critical events which created a firm global sentiment and then what followed after:

• In the year 1999-2000, the Y2K problem or the lack of understanding of technology led many in the world to believe that tech stocks will be the worst performing and to never consider investing. Cut to 2025, the better part of the year drove investments to tech stocks including the Mag Seven, AI etc.

• When 9/11 happened, the whole world started talking about high-rise buildings and how dangerous they were. Go to New York City today and you will witness even taller skyscrapers built after the episode including the site at which WTC towers once stood.

• The unfortunate incident of 2011 in Japan which led to nuclear accident after the Tsunami caused the power grid failure created huge concerns about the nuclear energy. Moving forward the world only became more resilient including the economy of Japan and it continues to expand this method of energy production.

• During lockdown of Covid-19, I was speaking at a webinar hosting experts from global real estate industry. The general belief was that the way in which real estate is built will change forever, you will need to redesign work from home facilities, people will choose suburbs over the cities etc. Come 2026, we are again engaging in talks of density of population in major cities, traffic congestion, etc and people returning to offices instead of working from home.

• In 2008, some media stories conveyed that Dubai real estate will never recover and the investment would struggle to yield good returns. Cut to 2021, people started buying real estate in Dubai from every corner of the planet as if there is no other city better than Dubai.

The common thing you will notice is that the reality and facts are stronger and deeper than the panic created by news headlines or impulsive observations.

There are many things that have built this city and with contribution of many individuals and companies. However, for me, two things that powerfully navigate the city to growth are the “resilience” and “vision”. The former creates the unparalleled strength to bounce back, and the later ensures that the direction is only enhanced.

There is one aspect of Dubai’s “success”, which should not be misunderstood that we are free from challenges, risk, failures or economic impact. What it means is that in favourable or adverse situation, ultimately the city will curate the success. The city is growing and so is the economy and with it comes bigger challenges and exposures but also bigger opportunities and greater success.

In the immediate threat of global correction, it’s a tangible city with world class infrastructure so at max you will experience variable correction in which good asset class shall retain reasonable value. Overleveraged debt will come under stress. One of the outcomes of an exponential growth in real estate is that it causes deficit of delivery infrastructure which in turn generates the construction risk. These are natural growth pains and gets fixed organically.

At a moment like this, what is your message to entrepreneurs, executives and investors across the UAE who may be feeling cautious right now? What does resilience really look like in practice?

The UAE as a country has welcomed people from all races and religions, offering opportunities of growth. The country has been the gateway and torchbearer for regional growth. If I look around the world, I struggle to find a country equivalent to the UAE in terms of ease of doing business or living a comfortable life. May be Antarctica would be the only other place without challenges but neither I can do business nor live a comfortable life.

The government of any country offers platform and infrastructure to do business, and the private sector is expected to convert that into an economy through disciplined approach and ethical practice. The UAE offers one of the finest infrastructures with protection from external threats so that we can focus on building the economy, that’s what I would advise every business and individual to do.

The UAE is an advanced economy and will continue to prosper. The economy continues to diversify and grow in trade, logistics, renewable energy, technology, financial services, tourism, production etc making it more resilient.

I must emphasise that since 2008, the global economy has not experienced an economic correction. It got further postponed due to Covid-19 and cash surplus it created due to reduced spendings. In the recent term, the global economy will feel some stress due to the trade deficit and supply chain backlog which in my opinion will ease out after some time but not before leaving some impact. There is an imminent reset which the global economy is expected to experience in the short term.

Eventually, the global wealth will undeniably move towards strong and agile economy; on that count, not many nations offer the abovementioned attractions as does the UAE.

For many people, Dubai has been a place of reinvention. In your case, what did this country make possible for you that may not have happened elsewhere, and how central has Dubai been to the way you think about ambition, risk and scale?

For me, Dubai is an inspirational university and not just a metropolis. I have learned so much doing business here for the last 22 years. The city has taught me to dream, aspire, think big and achieve it. The city has always promoted doing something unique and different.

To experience the legacy, you need to look at the history of Dubai, and you will know what I mean. Let me share some examples; Jebel Ali port was built in the year 1979, the famous Burj Al Arab was built in 1999, World Trade Centre was inaugurated in 1979, Dubai Internet City was built in 1999, Emirates airlines was launched in early 80s, DIFC founding legislation was passed in 2002, Palm Jumeirah was built in 2006, Burj Khalifa was announced in 2004.

Now, none of them are new and between 20-50 years old but so much in line with today’s market, that’s Vision. By now, I have not even mentioned Dubai Frame, Dubai Safari, Dubai Parks, Museum of the Future, several other islands, malls, hotels and iconic buildings which are countless. Name one city in the whole world which has all of these.

I am in business of property development and no matter how much I innovate and build quality asset, ultimately the value is appreciated by the vision and infrastructure of the city. I can confidently say that if I relocate any of my projects to other major cities in the world, it will change in value.

The city offers me that platform to build disruptive real estate which will attract appreciated value. The government puts the roads, schools, hospitals, utilities, gas stations and attractions which further act as catalyst for the real estate. No one does it better than Dubai.

Read the cover article in the latest Gulf Business April 2026 edition:

Hundreds of cargo vessels remain stranded in the Gulf as disruption in the Strait of Hormuz continues, with analysts warning it could take weeks to clear the backlog — even if the waterway fully reopens.

According to the latest available Lloyd’s List Intelligence briefing (April 9), over 600 ships above 10,000 deadweight tonnage (dwt) are effectively trapped in the region, including 325 tankers, many of them laden.

The scale of the congestion underscores the lingering impact of weeks of conflict and restricted access through one of the world’s most critical shipping routes.

Analysts say that even in a best-case scenario, where transit conditions normalise, clearing the accumulated backlog will take several weeks, pointing to a prolonged knock-on effect for global trade and energy markets.

Limited movement despite ceasefire

Despite the announcement of a US-Iran ceasefire earlier this week, vessel movement through the Strait remains heavily constrained.

Traffic is still running at roughly 90 per cent below normal levels, based on the most recent available data, with only a modest pickup in transits recorded in recent days.

While Lloyd’s List says 75 transits were recorded in the week to April 5 — the highest since the conflict began — volumes remain far below pre-crisis norms, and early daily figures suggest that activity remains uneven.

Access through the waterway is also far from normal. Vessels are being required to follow prescribed routes and coordinate passage via locations such as Iran’s Larak Island, reflecting ongoing security concerns and operational controls in the Strait.

Read more: Iran’s $2m ‘toll gate’: How tiny Larak Island became a Hormuz chokepoint

Trump ramps up pressure

The slow recovery comes as US President Donald Trump intensifies pressure for the Strait to be fully reopened.

In a post on Truth Social on Friday morning, Trump said: “Iran is doing a very poor job, dishonorable some would say, of allowing Oil to go through the Strait of Hormuz. That is not the agreement we have!”

The remarks highlight growing frustration in Washington over the limited flow of vessels through the chokepoint, despite the ceasefire framework being linked to restoring free navigation.

At the same time, maritime authorities are raising concerns about the broader implications of restricted passage.

The International Maritime Organization (IMO) has warned that any attempt to impose conditions or tolls on transit through the Strait could undermine international law.

IMO secretary-general Arsenio Dominguez said: “There is no international agreement where tolls can be introduced in international straits. Imposing such a toll would set a dangerous precedent.”

The developments underline the geopolitical and economic stakes surrounding the Strait of Hormuz, which typically handles around a fifth of global oil consumption.

No quick return to normal

Delegations from the US and Iran have begun arriving in Islamabad, Pakistan to start peace talks, amid a fragile two-week ceasefire.

Commentators have already raised concerns that Israel’s attacks on Lebanon on Thursday, in which 250 people were reportedly killed, could derail the agreement.

This could have further implications for the reopening of the Strait of Hormuz, which is likely to be one of the key issues on the negotiating table.

In the meantime, calls across the region for the Strait to reopen have been growing.

On Thursday, Dr Sultan Al Jaber, managing director and group CEO of ADNOC, called for the immediate and unconditional reopening of the Strait of Hormuz in a LinkedIn post.

“The Strait must be open — fully, unconditionally and without restriction. Energy security and global economic stability depend on it.”

Read more: Sultan Al Jaber calls for unconditional reopening of Hormuz

Al Habtoor Group said on Thursday it will invest more than Dhs5bn in a new real estate project in Dubai, marking one of its largest commitments in recent years and signalling continued confidence in the emirate’s economy.

The investment will fund the development of a new commercial tower in Al Habtoor City, the mixed-use development on Sheikh Zayed Road that includes residential towers, hotels, entertainment offerings and retail space.

The group said the tower will be built to international standards and will add a new landmark to Dubai’s skyline.

The announcement is the first in a series of developments Al Habtoor Group plans to roll out across Dubai and Abu Dhabi as part of its broader expansion strategy.

UAE offers an environment for businesses to grow: Khalaf Ahmad Al Habtoor

Founding chairman Khalaf Ahmad Al Habtoor, speaking in a recorded announcement, said the decision reflects the company’s confidence in the UAE’s stability, economic strength and investment climate. He added that the country continues to offer an environment where businesses can grow, and long-term investments can thrive.

The investment comes as Dubai continues to post strong economic indicators, supported by infrastructure upgrades, sustained investor interest and policies aimed at maintaining competitiveness.

Al Habtoor Group said the new project aligns with its long-term role in supporting the UAE’s development. For more than five decades, the conglomerate has been active across sectors, including real estate, hospitality, automotive, education, insurance and publishing, with operations in the UAE and several international markets.

The group said the new tower will be built on its portfolio of major developments and reinforce its commitment to contributing to Dubai’s growth.

The UAE has reviewed progress on its Fourth Federal Corridor project this week, reaffirming plans to build a major new highway linking Dubai, Sharjah and Ajman as part of a broader national push to ease congestion and improve transport efficiency.

The infrastructure initiative, discussed on April 6 at the first meeting of the UAE Infrastructure and Housing Council for 2026, chaired by Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, is designed to strengthen connectivity between the emirates and support rapid urban and economic growth.

Officials reviewing technical plans said the corridor will be a federal road roughly 68 kilometres long, with six to eight lanes in each direction, 10 major intersections and four flyovers, at an estimated cost of Dhs6bn ($1.63bn).

“The next phase requires accelerating the implementation of high-impact projects that enhance the efficiency of the transport system,” Al Mazrouei said, emphasising that the work is integral to keeping pace with population growth and supporting sustainable mobility.

New Federal Corridor will be the fourth major inter-emirate road in the UAE

The Fourth Federal Corridor will be the fourth major inter-emirate route, complementing existing motorways such as the E11 (Al Ittihad/Sheikh Zayed Road), E311 (Sheikh Mohamed bin Zayed Road) and E611 (Emirates Road).

Planners said it is expected to ease congestion, improve traffic flow and boost movement of people and goods across the country.

Public transport study to address traffic

The council also reviewed a comprehensive public transport study aiming to address heavy daily commuting demand between Dubai, Sharjah and Ajman.

The plan includes a proposed network of 10 routes featuring Bus Rapid Transit (BRT) systems and dedicated lanes, with direct connections to metro stations and city centres.

Officials said the project forms part of an integrated government approach to national infrastructure readiness, supporting objectives in the ‘We the UAE 2031’ vision to address traffic congestion, improve mobility and elevate the overall transport experience.

The council also evaluated ongoing federal efforts to increase the capacity of other federal roads connecting the emirates, and looked at linking Ajman to both the Third and Fourth Federal Corridors to provide alternative traffic routes and ease pressure on existing networks.

Beyond road construction, discussions touched on mechanisms used to maintain traffic continuity and safety during recent weather events, underlining a broader commitment to resilient and integrated transport planning.

Al Mazrouei described infrastructure development as a “fundamental pillar” of the UAE’s competitiveness and quality of life, noting that advancing public transport and integrated mobility remains a strategic priority.

EY Academy has launched an AI-enabled Future-Ready Project Delivery Accelerator aimed at strengthening project execution capabilities across GCC organisations, as demand rises for managing large-scale, complex transformation programmes.

The applied learning programme is designed to equip project leaders with the skills needed to deliver high-stakes initiatives, combining structured training with real-world application, coaching and measurable performance outcomes. It is already being deployed with clients in Saudi Arabia, highlighting immediate regional demand.

Fazeela Gopalani, EY MENA academy leader, said: “Across the GCC, organisations are delivering transformation initiatives at unprecedented scale and complexity. Future-ready project leaders must go beyond traditional delivery methods. They need strategic judgement, digital fluency and the ability to harness emerging technologies such as artificial intelligence (AI) responsibly while navigating complex stakeholder environments. This accelerator is designed to build those capabilities while supporting national transformation priorities.”

Addressing delivery gaps in transformation programmes

The launch comes as organisations across the GCC, particularly in Saudi Arabia, manage increasingly complex project portfolios aligned with national transformation agendas such as Saudi Vision 2030.

These programmes are characterised by compressed timelines, multi-layered stakeholder environments, vendor-heavy delivery models and rising expectations for transparency and execution certainty. EY said this has created a widening gap between strategic ambition and implementation capability.

The accelerator is structured to address these challenges through experience-led learning focused on real organisational initiatives rather than theoretical training.

A key component of the programme is preparing participants to operate in AI-enabled delivery environments. This includes the use of automation, data-driven decision-making and digital tools to enhance productivity and improve delivery outcomes.

Participants are trained to apply AI selectively across planning, reporting and risk management, while operating within governance frameworks that include data sensitivity protocols, approvals and human oversight.

The programme also incorporates AI-enabled role-play and practice labs, allowing participants to simulate real project scenarios, refine decision-making and improve communication in controlled environments.

Building national capability and productivity

The initiative is positioned as supporting broader regional goals around workforce development and economic transformation. It aims to help organisations:

• Strengthen governance, transparency and delivery discipline
• Improve execution of giga-projects and transformation programmes
• Support talent localisation through capability building
• Enhance productivity and accountability in strategic initiatives

Participants complete applied projects linked to live organisational programmes, ensuring immediate business impact and measurable improvement in delivery performance.

EY said the programme’s “applied-by-design” approach enables participants to integrate learning directly into ongoing projects through structured feedback sessions and delivery clinics.

Organisations are expected to benefit from improved delivery predictability, stronger decision-making processes and enhanced reporting quality, supported by pre- and post-programme capability assessments.

The launch reinforces EY Academy’s positioning as a partner for developing project delivery capability across the region, particularly as organisations prepare for increasingly digital and AI-driven operating environments.