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00:03 Hello, everyone, and welcome to a new episode of CEO Talks.
00:13 Today we have with us Mr. Chris Roberts, Group CEO of Iltizam
00:17 Asset Management.
00:17 Mr. Chris, hello.
00:18 Thank you so much for being with us.
00:20 Pleasure to be here.
00:21 I would like to kick start this conversation
00:23 by talking about your journey with Iltizam
00:25 and how the business model of the company and the group
00:27 has evolved over the past years.
00:31 When we started the company originally back in 2009,
00:34 it was very much focused just on one aspect of real estate
00:37 management.
00:38 When I joined in 2014, we decided
00:40 to take a lot more holistic approach.
00:42 So we created different companies,
00:44 very much solely in their market industry.
00:46 So property management, own association management,
00:49 facilities management, for instance.
00:51 And as the company grew over the last nine years,
00:54 we've expanded more into technology, particularly
00:57 into AI, as well as development management and consultancy
01:00 of real estate as well.
01:02 So when we talk about the services that Iltizam provides,
01:05 can you walk us through these services?
01:07 And to what extent are they specifically
01:08 tailored for some clients?
01:10 We look at our clients, and one time
01:13 they want one particular model.
01:15 They want one service as in facilities or property
01:18 or own association.
01:20 And it's how we actually bring the other parties together.
01:22 It's much more efficient as an organisation
01:24 when we involve technology, when we're
01:26 looking at the whole assets, and how we manage,
01:29 how we maintain, and how we develop that asset going
01:31 forward.
01:32 So I think that's something that's very key, that it's not
01:35 just an individual part we're looking at.
01:37 We're looking at the whole lifecycle of an asset.
01:40 OK, so what kind of presence do we
01:43 have for Iltizam in the GCC region
01:45 and the Damina region overall?
01:47 Sure, so originally we were in Abu Dhabi.
01:49 That's where we started.
01:51 We've grown across the whole of the UAE,
01:54 also into Oman, Saudi Arabia, Qatar, Egypt,
01:59 and very shortly going into Kuwait as well.
02:02 So for us, it's very much the last nine years
02:04 about developing the whole model, expanding the model.
02:08 And we take individual companies to expand
02:10 in different countries.
02:11 And that's the way we sort of grow as an organisation.
02:14 Are you having any expansion plans during 2023?
02:18 We continue to have expansion plans, yes.
02:21 There's actually something very interesting probably
02:23 going to happen in the next couple of weeks.
02:26 I would estimate this is going to change the sort of industry
02:29 really on its side, particularly from a tech perspective,
02:34 but also how we grow into the future.
02:36 So yes, we look at our business regionally at the moment.
02:39 But I would suspect that within the next two to three years,
02:42 we're very much into Africa and also into Asia,
02:45 and then see that expansion quite aggressive then by 2028.
02:49 So properties and this sector has a lot of trouble and issues
02:55 when it comes to greenhouse emissions.
02:58 So with UAE ambition to get to net zero by 2050,
03:03 what is Iltisam doing when it comes to this target?
03:06 Well, we committed also to hit the same target.
03:09 As you know, I think real estate assets
03:12 are one of the big carbon distributors within the UAE,
03:18 how you design them, how you build them going forward.
03:20 So we just signed a joint venture with an AI company
03:24 solely to look initially at how we do the carbon monitoring
03:28 of each individual building.
03:29 That then drives out for us longer term perspective
03:32 about how we should be maintaining the assets,
03:34 what kind of assets should be inside a building
03:36 to make sure we drive out efficiency.
03:38 Therefore, then we can get to be the market leader
03:41 in regards to we can monitor all the buildings
03:44 from a carbon position and then going to working
03:47 with the regulatory authorities,
03:49 then to do carbon credit buying to get to a net zero.
03:52 Once you get to a net zero in a building,
03:54 then you open up much more doors in regards to
03:57 if you're going to take a mortgage, for instance,
03:59 you can have a net zero mortgage,
04:00 and that's a lot more cost competitive than a normal mortgage.
04:03 To what extent do you think that this sector
04:05 is very competitive in the UAE
04:07 and what's your competition strategy?
04:10 I think, listen, most of our competition is based
04:12 solely within an FM market or a PM market,
04:15 property management market, or within a consultancy market.
04:19 You tend not to get many companies
04:21 looking at the whole holistic approach
04:22 from design through to management,
04:26 through to maintenance, through to technology.
04:28 So that's one of our USPs as an organisation.
04:31 I think that'll probably change
04:33 probably in the next few weeks
04:34 that we're looking to go more so into,
04:36 a lot more into technology, particularly into AI,
04:39 and how we design buildings going forward into the future.
04:43 Rather than looking at, there's a tower,
04:46 we want to go and build a tower,
04:47 it's about how can we actually build a carbon neutral tower,
04:51 a sustainable tower?
04:53 How can we actually manage and maintain it
04:55 from a smart building perspective at the same time?
04:57 And the third part is actually looking at it
04:59 from a wellness perspective.
05:00 All these three things drive your community
05:05 within a building or within a villa community, for instance.
05:08 So do you have any collaboration with tech companies
05:11 when it comes to these technologies?
05:13 Yeah, so we created a company called DI1,
05:16 which is a new AI company.
05:18 We also have a company called PropEasy,
05:20 which is mainly for property
05:21 and own association management prop tech.
05:23 And we have another company called Easter,
05:25 which is the overarching element,
05:27 which is looking at automating assets.
05:30 So assets tell you when they want to be maintained,
05:32 not the other way around.
05:34 That drives up far more efficiency.
05:36 And also looking at the same time,
05:38 how we can drive AI into designer buildings
05:40 and looking at whole communities at the same time.
05:43 So rather than saying,
05:45 we're gonna go and just do a master plan of a building
05:49 or of a master community, for instance,
05:51 we actually start to work with AI
05:53 to get us to the most efficient route
05:54 that we can actually go and design.
05:56 What do you think of Dubai real estate ecosystem?
06:00 Listen, I think it's phenomenal what's been achieved,
06:05 absolutely phenomenal.
06:06 And it continues to surprise everybody as well.
06:10 I think there's a lot more work we can do
06:11 in regards to the whole carbon net zero perspective
06:15 of buildings, as well as the sustainable buildings,
06:19 wellness, happiness within those buildings
06:22 at the same time.
06:23 This is all very, very key for going forward into the future.
06:27 And I think once we all get our head around
06:28 how are we gonna design buildings in the future,
06:30 therefore, how are we gonna manage buildings,
06:32 how are we gonna maintain, excuse me,
06:34 how are we gonna maintain buildings,
06:36 this will have a tremendous impact
06:37 on future buildings coming in
06:39 because Dubai and Abu Dhabi are forward thinking,
06:42 100% the UAE is at the forefront of technology
06:45 and advancement of technology.
06:47 So we need to be at the same thing within our industry.
06:51 We need to be excelling that.
06:52 As the CEO of El Tizam Asset Management,
06:55 what's your vision for the group and for the company
06:58 for the decade to come?
07:00 Well, if I told you that,
07:01 I'll give away the biggest secret of the organization.
07:05 Listen, we created a company to encompass the real estate,
07:09 whether it's residential, commercial, industrial,
07:12 it doesn't really matter.
07:13 So our vision for the future
07:17 is very much looking about technology,
07:19 very much looking about the management,
07:21 the consultancy of businesses going forward
07:24 and how best we can apply technology
07:26 to drive our efficiencies.
07:29 At the same time,
07:29 to drive a much better customer experience
07:32 for our buildings.
07:34 Do you think that more services can emerge in the sector
07:39 as we go forward?
07:40 Do you think that new innovations
07:44 will actually mean that clients
07:46 will require different kinds of services
07:49 in the years to come?
07:50 I think technology has a massive aspect to play
07:55 within how we actually operate our business going forward.
07:58 With the advancements of AI,
07:59 with the advancements of things like chatGBT
08:03 and large language models in particular,
08:06 this is gonna have a significant root
08:09 of how we actually manage buildings,
08:10 design buildings and maintain buildings.
08:13 So anybody who's sort of in the FM ministry
08:16 or the property management industry now
08:17 who's not applying technology is gonna be left behind.
08:20 That's 100%.
08:21 I think within the next five to 10 years,
08:23 I think you're gonna be in a position
08:25 where technology is more than likely
08:27 gonna be doing around 80%, 90% of the current role
08:33 of what FM or what PM is gonna be doing.
08:35 And that in a transition of a piece of business
08:38 is significant.
08:40 And AI is driving us to go faster and faster and faster
08:45 and invest more to make it happen.
08:47 Do you think that the sector
08:49 require more consolidation in the UAE?
08:52 Yes.
08:53 I think that's something that we've been working on
08:56 the last couple of years.
08:58 Our competitors are starting to look at it at the same time.
09:01 And as I said, I think the next couple of weeks
09:03 are gonna see a much bigger rollout in the industry.
09:07 At the end of the day, it's too fragmented
09:11 between the different individual companies.
09:13 And we've got to start to bring it together
09:15 because technology is gonna take the lead.
09:17 And unless you're leading from a technology perspective,
09:20 you're not gonna be where we need to get to
09:22 in two years, five years and 10 years time.
09:25 I wanna thank you so much for being with us today.
09:28 I agree with you completely
09:30 that with the ambition of UAE to become net zero by 2050,
09:34 I think property asset management companies
09:36 have a role to play in this transition.
09:39 But the thing is it requires a lot of investment
09:42 as you just said.
09:43 Thank you so much for being with us, Mr. Chris Roberts.
09:46 We wish you the best of luck with everything that you do.
09:48 Thank you so much.
09:50 Thank you so much, ladies and gentlemen for watching.
09:52 This is the end of this episode of CEO Talks.
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