The Silicon Review
“Innovation is harder than copying what you already know. The lessons I have learned as a CEO reflect that unavoidable truth: the harder choice is usually the better choice.”
The real estate market is highly competitive, and to make an impact, you need to stand out from the rest of the crowd. Regardless of whether you’re a developer or an investor, there are a few crucial skills that you need to demonstrate to find success in the industry.
In light of the foregoing, we’re thrilled to present Prime Lands Investment Group — a real estate and development company.
It is headquartered in Doha, Qatar.
Fadi Kreiker, Prime Lands Group CEO, spoke exclusively to The Silicon Review. Below is an excerpt.
Q. You joined Prime Lands Investment Group a short time ago. This year you’ve picked up the best CEO in the Middle East in the real estate sector award, which is truly impressive. What were the main challenges that you — as the CEO — had to overcome during this time?
I am working in this field for 25 years. I have worked across Middle Eastern countries including Lebanon, Saudi Arabia, Oman, Dubai, etc. prior to joining Prime Lands Group in Qatar
The main challenges I have faced as CEO are managing the departure of the outgoing CEO, a lack of feedback, leading former peers and being less accessible to former reports, and establishing the right pace of change.
However, given the right culture in place at Prime Lands, things settled down after some time.
Q. What was the best lesson that you’ve learned along the way?
Innovation is harder than copying what you already know. The lessons I have learned as a CEO reflect that unavoidable truth: the harder choice is usually the better choice.
Q. Recently, at the Property Awards 2020, the Prime Lands Investment Group won an impressive number of significant awards — 5! What does it mean for the company to be recognized by the Arab Real Estate Awards?
Winning a real estate and property award at the ‘International Property Awards’ provides you with all the evidence that you need to prove you are better than the rest. Outdoing the competition remains our top priority so that we can continue winning these awards while gaining more market.
Q. The Prime Lands Investment Group certainly had its fair share of interesting, challenging projects. Which project was the most interesting one for you personally?
The most interesting project for me personally is Al Rayyan Village.
The village comprises 383 villas in a range of four different types in Qatar’s most desirable location near West Bay. As Doha’s newest luxury gated address, it offers sophisticated craftsmanship, high-end furnishings, advanced security, and an eco-friendly design.
Created to be a ‘home away from home’, Al Rayyan Village is a carefully master-planned environment. It harmoniously blends gardens, walkways, and water features with a sophisticated clubhouse, children’s playgrounds, and a host of leisure facilities within walking distance of every property. Cooling open spaces have also been encapsulated in the design of each villa via courtyards and terraces.
Q. When all things considered, real estate development and investment sphere is very dynamic and constantly changing. Yet, Prime Lands Investment Group always manages to stay on top of the game and is a market leader. What is the secret behind this?
Prime Lands introduced a unique approach to the market by adopting precast construction to high-end projects. This approach allowed the company to build its flagship project, Al-Rayyan Village (ARV), at an astounding speed of one high-end villa per working day. The company’s high-end precast techniques have been assessed and approved by the most demanding international experts. I believe this the secret behind our success.
Moreover, the ultimate mission of Prime Lands is to adapt its high-end residential, commercial, and industrial projects to the particular needs of its target market. As such, Prime Lands has become a trendsetter and a reference in the Qatari construction and real estate development sectors: Outstanding high-end finishing, state-of-the-art technology, modern equipment, scalable and flexible infrastructure, lightning speed execution, and customer-oriented approach. All of this is combined with a thorough and deeply rooted appreciation of local values, traditions, regulations, and the environment.
Q. In 2018, the Prime Lands Investment Group established a global division, and just a year later it witnessed a growth rate of over 200 percent. Did you expect such a big success in such a short period? What was the main strategy for going international?
Prime Lands offers a standardized product worldwide and has the goal to maximize efficiencies to reduce costs as much as possible. We are highly centralized and subsidiaries are often very dependent on the HQ. Their main role is to implement the parent company’s decisions and strategies.
Q. Could you explain more about the most important values that are implemented in the company and how this certain approach helps to achieve and maintain collaborations with clients?
In 2018, Prime Lands adopted a company culture called ‘Prime Lands Great Place to Work’.
The model is about embracing a collaborative and non-hierarchical working environment. All managers focus on coaching rather than commanding. According to all evidence we looked at, this approach best harnesses the creativity and innovative potential for our employees as well as ensuring greater employee and client satisfaction.
Let’s start with the management culture. We changed our operations and management structure to give staff more power and autonomy. Our managers should see themselves as coaches, motivating staff to improve, offering support, and rewarding staff on merit. Besides, our most important goal is ‘peripheral decisional autonomy’, which means that staff is actively encouraged to make decisions based on their informed judgment.
We also want employees to reach their personal goals, not just company goals. This approach is backed up by ensuring staff has access to high-level training at all times. Importantly, everyone in the organization needs to have and show respect for others, and everyone needs to take responsibility for decision-making.
Generally, I think employees are happier working in an environment that fosters respect, improvement, and career advancement. Passion is a motivating force for the company, and it is important for people to feel that they are making a difference.