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50 Best Companies to Watch 2023

Banking on knowledge, Powerhouse Real Estate continues to be strong in the Dubai real estate market and eyes international expansion.

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As of March 2023, the company had 11 businesses.

Powerhouse Real Estate is a top-rated company serving clients in the cutthroat Dubai market. Thanks to its focus on individualized service, market knowledge, and cutting-edge technology, the company separates itself from its competitors. It solidifies its position as a trustworthy and respected real estate brand.

Whether buying, selling, renting, or investing, the company's team of experts leverages their market knowledge, industry experience, and innovative tools to deliver exceptional client results.

Powerhouse was founded in 2008.

The Silicon Review reached out to Mamad Kashani-Akhavan, CEO of Powerhouse Real Estate, and here's what he had to say.

Interview Highlights

Q. How did Powerhouse Real Estate maintain its adaptability over the years?

Firstly, the company invested in education and training for its agents, as evidenced by the Academy by Powerhouse. This would enable its agents to keep up with changes in the real estate industry and continue to provide excellent service to their clients.

Secondly, Powerhouse Real Estate diversified its offerings by expanding its businesses. As of March 2023, the company had 11 businesses. This diversification would enable the company to adapt to market changes and provide services to its clients.

Finally, Powerhouse Real Estate prioritizes fulfilling clients' needs, which is key to success. By focusing on its clients and their needs, the company can continue to adapt and evolve to meet changing demands in the real estate industry.

Q. Can you introduce us to your services? What are their key features?

Powerhouse Real Estate: Provides clients with a wide range of real estate options in Dubai, including buying, selling, and renting properties. Key features of this service include personalized service, market expertise, and a comprehensive database of properties.

Powerhouse Commercial: This service specializes in commercial real estate, including offices, retail spaces, and warehouses. Key features of this service include a deep understanding of the local market, expertise in negotiating complex commercial leases, and a comprehensive database of commercial properties.

Powerhouse Off Plan: Offers clients the opportunity to purchase properties still under construction, often at a discounted price. Key features of this service include access to exclusive off-plan properties, expert advice on the benefits and risks of off-plan investing, and assistance with financing options.

Powerhouse Mortgages: Helps clients secure financing for their real estate purchases. Key features of this service include access to multiple lenders, personalized advice on mortgage options, and assistance with the mortgage application process.

Fashionhouse Dubai: A joint venture with Fashion TV This service offers clients luxury properties, including high-end villas and penthouses. Key features of this service include personalized service, expertise in luxury real estate, and access to exclusive properties.

Property Management: This service assists clients with property management, including maintenance, housekeeping, tenant screening, and rent collection. Key features of this service include a dedicated property management team, 24/7 availability, and a commitment to exceptional service.

Bonyan Maten Interiors and Development: These services assist clients with interior design and property development. Key features of these services include personalized service and a commitment to quality and innovation.

Q. Can you provide us with one or two success stories describing your clients' challenges and how Powerhouse Real Estate helped them overcome them?

One of Powerhouse Real Estate's clients was looking to sell a luxury property in Dubai but had not found a buyer for several months. So Powerhouse Real Estate took over the listing and implemented a targeted marketing strategy, including showcasing the property in other countries and using digital marketing tools to reach potential buyers.Within a few weeks, Powerhouse Real Estate found a qualified buyer and closed the sale, achieving the client's desired price and timeframe.

Another client was looking to invest in a commercial property in Dubai but needed clarification about the market conditions and the risks involved in commercial real estate investing. Powerhouse Real Estate's Commercial division provided the client with a detailed analysis of the local market, including key trends and forecasts, and presented several viable investment options aligned with the client's budget and goals. The Commercial team also guided the legal and financial aspects of the transaction and negotiated favourable terms with the seller.The client made an informed investment decision and confidently closed the deal, thanks to Powerhouse Real Estate's expertise and support.

These success stories demonstrate Powerhouse Real Estate's commitment to providing personalized and comprehensive real estate services that help clients achieve their goals in Dubai's competitive market.

Q. What new endeavours is Powerhouse Real Estate currently undertaking?

As of March 2023, Powerhouse Real Estate constantly expands and explores new opportunities in Dubai's dynamic real estate market. Here are some of the new endeavours that the company is currently undertaking:

Powerhouse Mortgages: Powerhouse Real Estate recently launched its mortgage division, which offers clients am.

Expansion into new markets, including London: Powerhouse Real Estate is actively exploring opportunities to expand its real estate businesses into new markets locally and internationally. The company is looking to leverage its experience and expertise in Dubai's real estate market to enter new markets and offer its clients a more comprehensive range of real estate services.

Q. What is the one thing you want Powerhouse Real Estate to be known for?

Powerhouse Real Estate aims to be known as a place where we create leaders in Dubai's real estate industry, providing value-added services that meet its client's needs and exceed their expectations.

Tell us what's next for Powerhouse Real Estate.

Powerhouse Real Estate plans to establish Powerhouse International, a new business unit dedicated to expanding the company's real estate services in international markets. Powerhouse International will leverage the company's expertise and experience to offer its clients a wide range of real estate services, including brokerage, property management, and investment opportunities. By establishing a presence in new markets, Powerhouse Real Estate aims to offer its clients a truly global real estate service and position itself as a leading international real estate player.

Overall, Powerhouse Real Estate's vision for the future is to position itself as a leader in Dubai's real estate industry and continue to deliver exceptional real estate services to its clients locally and internationally.

Mamad Kashani-Akhavan | CEO

Mamad Kashani-Akhavan was born in 1963 into a successful entrepreneurial family in Iran. His father pioneered the first chain of department stores in the Middle East.

At 15, Mamad began studying in the UK. First, he furthered his education by studying Accountancy. Then, in 1981, aged 18 and still a full-time student, Mamad started a small real estate agency with just £100.

In 1984, he managed to sell a house in Knightsbridge (London) that had been on the market for two years. Mamad advertised the London property in the Middle East's leading newspapers and received a phenomenal response. Two months later, the house sold for a record £1 million.

These early successes gave Mamad the connections and confidence he needed to build a successful career in the property industry. Additionally, Mamad enjoyed the challenge of getting involved in other sectors. As a result, he developed and managed many hotels, including a 40-storey tower in Dubai and a 240-room hotel in Central London.

During his time as CEO of H.R. Owen, the whole group was successfully restructured. He introduced five new sites and started six new businesses. He also supports industries such as IDF, an oil service company, and a Middle Eastern bank with their expansion plans.

Mamad is also an accomplished writer. His unique style of open letter writing - mainly based on his 42 years of experience in the property industry - has many followers. He has published his letters in the Times, Financial Times, Estates Gazette, Property Week, Central Government, and Gulf News.

Mamad is also named Real Estate CEO of the Year UAE 2023 by world outlook business for his hard work and dedication to the industry.

Powerhouse's vision for the future is to become a leader in Dubai's real estate industry and continue to deliver exceptional real estate services to its clients locally and internationally.

“Powerhouse’s vision for the future is to maintain its position as a leader in Dubai’s real estate industry and continue to deliver exceptional real estate services to its clients locally and internationally.”