Alif Investments CEO, who brought some major Pakistani brands to Dubai, believes ‘homework’ is key to success in emirate

DUBAI: For the Pakistani diaspora living in Dubai, places that stoke memories and experiences from back home stand out. Perhaps, this is why certain companies that offer Pakistani food and clothes that offer ethnic wear have carved an identity for themselves as representatives of the colour green.

Among these is Alif Investments, a company that brought to Dubai Meat One, EmlyChilli and J. among other names that have dotted the streets of Pakistan.

It started in 2009 when Asif Jabbar, founder and CEO, conducted market research and found that even though there was a sizeable diaspora in Dubai, there were very few Pakistani products available in the market.

“There was not a single Pakistani clothing brand in the UAE, despite an obvious demand. Similarly, there were just about two famous food outlets that had been around for many years,” said Jabbar.

In order to fill that vacuum, Jabbar launched fast food outlet Emly Chilli and a restaurant B&B café and restaurant. In 2010, the company brought J. – then called Junaid Jamshed into the Dubai market, the first clothing brand formally launched in the UAE.

“When we opened restaurants, we realised that there was an issue in the supply chain of Pakistani meat, which is an essential ingredient in most Pakistani dishes. So, to resolve that issue, we signed a franchise with Meat One, and started importing meat from Pakistan. Eventually, the franchise ventured into providing Qurbani services to ease the process for Pakistan’s expats.”

Starting a new business in any country is a test of survival. But Jabbar believes that running a business in Dubai is far less challenging than in other places.

Over the years, Dubai has created an environment for businesses to thrive. Governed by laws and regulations, and on the back of steady efforts by the government, the ease of doing business in the emirate is smooth, since it offers lucrative opportunities, a diverse market and is based on the latest innovations.

But there are initial challenges. And this is the single most important advice that Jabbar gives to the people aspiring to set up their business in Dubai.

“First thing first, everything is transparent here.

“There’s no margin for error and everything must be done as per the rules and regulations because the laws are very strict. In fact, I would say that even before venturing into anything, one should read and understand the laws of running business here; this is not a trial-and-error situation where you can learn from your mistakes.”

Then comes research. This is a country where one must compete with businesspeople from over 180 countries, which means acquiring a thorough knowledge of the field. One must be ready to face stiff competition as well.

“At the end of the day, doing your homework properly can be a make-or-break factor,” reiterated Jabbar.

Dubai is also a market that has given rise to online retail.

Commenting on the growth of this market, Jabbar is of the opinion that while online shopping has bloomed, the importance of physical stores cannot be downplayed.

One of Alif Investments’ projects includes Alifbazaar.com that sells products ranging from food to clothing to perfume and electronics. However, Jabbar believes that in some areas, such as shopping for clothes, people still prefer the conventional way.

Having dabbled in real estate in his early days in Dubai, Jabbar decided to re-enter the market in 2015 with his company, Park View, of which he’s the Group CEO.

Developing projects across the UAE and Bosnia, he draws a comparison to what the market was like almost 20 years ago to what it is now, especially after the market crashed in 2008.

“It was like falling from 35,000 feet,” he recalled. “The real estate market in the UAE was booming when the crash happened, so you can imagine the impact. Fortunately, Dubai has revived considerably since then, but there are still many pockets in other emirates that haven’t fully recovered.

We are very grateful for the support of the rulers of Dubai, who have always regarded any crisis as a challenge and met it heads on. And as a result, today we’re seeing the realty market flourishing across the emirate.“

The business of real estate, Jabbar believes, runs on sentiments. At this point in time, Dubai’s realty is soaring high, with an increasing number of investors from other countries buying properties in Dubai.

In recent years, the emirate has seen investments from China, Europe, Russia, and now even Canada.

“One of the biggest reasons is that in many of these countries the real estate sentiment is currently negative. So they prefer to park their money in Dubai realty,” explained Jabbar.

“At this point in time, there are several interesting and impressive projects coming up across the emirate and We can look forward to some amazing development in the near future.

Dubai South, for instance, is seeing a lot of new projects coming up, especially around Al Maktoum International Airport, so this is a good time for Dubai real estate.“

Copyright Business Recorder, 2024