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BUILDING RESILIENCE IN DUBAI’S EVOLVING SHORT-TERM RENTAL MARKET

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Exclusive interview with Rohollah Rohparwar, Managing Director & Founder, First Class Property Management

As the Managing Director and Founder of First Class Property Management, how would you define your core role in shaping the company’s strategic direction?

    Luis Santos and I are equal business partners and co-founders of First Class. We have known each other since 2018, when we worked together at a leading management consultancy firm and collaborated on major transformation projects across the petrochemical, automotive, and hospitality industries.

    That background in engineering and industrial transformation is the blueprint for how we run First Class.

    We share a strong mutual respect and operate with complete parity. There is no fixed division of responsibilities; every key decision is discussed and evaluated together to ensure the best possible outcome. This collaborative approach has been fundamental to our success, enabling First Class to become the market leader in both quality and volume, as well as the most trusted partner for short-term lets in the UAE.

    We remain deeply hands-on in all areas of the business and are actively involved in its daily operations, 24/7. Our role is to ensure our ‘Operating System’ stays agile enough to handle a fast-growing portfolio while maintaining the highest review scores in the region.

    What inspired you to establish First Class Property Management, and what gap in the market were you aiming to address?

    My path to real estate was somewhat unconventional. I began my career as an aeronautical engineer at Airbus, working as an internal Lean consultant on the company’s long-range program, which included the A380, before moving to the UAE and entering management consultancy. When I looked at the Dubai property market, I didn’t see it through the lens of a traditional landlord. I saw it as a massive, complex system that lacked technical precision.

    The gap was clear: Most property management was reactive, relying on manual processes, vibes, and gut feel rather than data-led strategy. There was a lack of professional-grade operations capable of managing the entire value chain in-house. I wanted to bring in engineering logic, treating a property portfolio like a high-performance aircraft where every part of the system works in harmony, offering investors a level of stability and ROI that simply wasn’t available from fragmented, smaller operators. We moved away from being just a rental agency to becoming a vertically integrated ‘Operating System’ for real estate.

    As a long-standing player in the market, how have you seen investor expectations evolve over the past few years?

    When I moved from Germany to the UAE in 2014, my friends and family were shocked by my decision. Dubai and the UAE were still relatively unknown, especially compared to today, while Germany was considered the benchmark for a strong economy and stable political environment.

    Over the past decade, however, the situation has changed dramatically. The same circle that once questioned my move are now eager to relocate to the UAE as quickly as possible. Investors who previously lacked confidence in the UAE property market are now entering with full conviction. Everyone wants to be part of Dubai’s remarkable success story.

    Tourism-driven sectors often experience fluctuations tied to global events. How can property stakeholders build resilience against such volatility?

    Resilience in this market comes down to one thing: vertical integration. If you rely on third-party contractors for your cleaning, maintenance, and laundry, you are vulnerable to their price hikes and their timelines. When a global event disrupts the market, those external costs don’t disappear just because your occupancy has dropped.

    Stakeholders need to own the “shield” that protects their assets. At First Class, we internalized our entire supply chain. Because we own our laundry facilities and our maintenance teams, we were able to re-engineer our operational costs by 90% at the very start of the current regional situation. This allowed us to keep investor payouts on time and in full even when average daily rates were under pressure. For me, resilience means building a business structure that can pivot its cost base in 24 hours.

    Can you share how leveraging data and market insights helps property managers and investors make more informed decisions during periods of disruption?

    Data is the only way to separate reality from the headlines. During the disruptions of early 2026, the general sentiment was one of panic, but we focused on the methodology behind the numbers. For instance, while official registration data showed a 0.5% price increase in March, we knew that was a lagging indicator. Real-time valuation data, like the ValuStrat VPI, showed a 5.9% price correction.

    Understanding this “registration lag” is critical for investors. It allowed us to see that the market was re-pricing instantly, which actually created a floor for capital to return. By April, transaction volumes surged by 20% to AED 68.56 billion as investor conviction returned.

    On the operational side, our data identified the “Resident Migration” early on. While the tourist booking window collapsed to under three days, demand for stays of 29 nights or more skyrocketed, eventually making up over 90% of our bookings. By shifting inventory immediately to capture this resident demand, we were able to drive occupancy back up to 85% (and we are targeting 90% for May) while the wider market struggled at 20%. This level of market intelligence allows us to inform investors exactly where to put their capital, specifically in prime hubs like Downtown and Dubai Marina, which our 12-year dataset proves recover 30% faster than emerging areas, to ensure a safe landing regardless of the external noise.

    In your opinion, how does the role of adaptability and data-led decision-making in maintaining performance during uncertainty?

    Adaptability is often mistaken for guesswork, but true adaptability is actually a very disciplined process. In a volatile environment, a wait-and-see approach is often a strategy for failure. You have to be able to re-model your entire business in a single day.

    During this period, we rebounded to 85% occupancy while the wider market struggled at 20%. That didn’t happen by accident. It was the result of using data to bridge the gap between what the market used to be and what it is now. We introduced flexible packages with full refunds and weekly payment options because the data told us that guests were seeking liquidity above all else. When you combine that kind of flexibility with a vertically integrated operation, you create a system that can withstand a stress test. Uncertainty is always part of the market, but data provides the structural support to navigate it.

    What role will technology and AI play in shaping the future of real estate operations?

    AI has become the most critical focus in our operations. Recently, I attended two major industry exhibitions in London, where I had the opportunity to experience live demonstrations of the latest AI agents. I was genuinely impressed by their advanced capabilities.

    We are now actively implementing AI agents across all areas of our business. This strategic move allows us to efficiently manage our fast-growing portfolio without expanding our team. AI agents are helping us minimize errors, respond to guest and client requests within minutes, and significantly enhance customer satisfaction, which ultimately drives higher sales.

    Furthermore, back-office operations such as payroll, financial statements, insurance management, listing optimization, and many other tasks are now being handled by AI agents. It represents a true step change for both First Class and our sector as a whole.

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    Home Feature

    Why Digital Experience Is Becoming Real Estate’s New Quality Benchmark

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    By Mr. Francis Alfred, Managing Director of Sobha Realty

    For decades, quality in real estate was judged by what buyers could see and touch: prime locations, architecture, premium materials and craftsmanship. These fundamentals remain essential, but they are no longer enough on their own. Today, quality is also defined by the digital experience that surrounds the home, from the first enquiry to handover and long after residents move in.

    Customers now compare real estate with the standards set by banking, aviation and retail, where convenience, transparency and personalisation are expected. Buying a home is one of the most important financial and emotional decisions a person can make, so the digital journey must do more than simplify transactions. It must build trust.

    At Sobha Realty, we view digital experience as a core part of long-term value creation. A strong digital ecosystem gives customers greater visibility, faster access to information and more confidence throughout the purchase journey. Through the ONE Sobha App, customers can access real-time project updates, track construction progress, manage documentation, digitally sign agreements and complete transactions securely. The platform also uses artificial intelligence (AI) and optical character recognition to reduce manual intervention, improve accuracy and speed up communication.

    This transparency is changing the developer–customer relationship. What was once a differentiator is quickly becoming an expectation. Buyers want to understand how their property is progressing, receive timely responses and manage key interactions without friction. The more visible and connected the process becomes, the stronger the confidence.

    Digital experience also extends into the home itself. The ONE Sobha App integrates with multiple home automation systems, allowing residents to manage lighting, air conditioning, curtains and elevator access through a unified interface. Increasingly, customers expect digital convenience to continue beyond the sales journey and become part of everyday living. A home is no longer only intelligently designed; it must also be intuitively connected.

    However, a high-quality digital experience is not created through one app alone. Customers move between mobile platforms, contact centres, social media channels and physical service centres. Each interaction must feel connected, contextual and consistent. This is why omnichannel engagement has become increasingly important in real estate. By integrating communication channels and using AI, analytics and sentiment analysis, developers can better understand customer expectations, respond proactively and personalise service. At Sobha Realty, our AI-enabled unified contact centre supports this approach by improving continuity across every engagement channel.

    The impact of digital transformation also reaches far beyond customer-facing platforms. PropTech is reshaping the full real estate lifecycle, from design and construction to operations, community management and long-term asset performance. AI, predictive analytics, automation and intelligent infrastructure are helping developers improve coordination, optimise resources, reduce delays and deliver more consistent outcomes.

    These are not only operational improvements. They directly affect customer confidence. When digital tools improve construction visibility, delivery reliability and long-term building performance, they strengthen the promise behind the property. In an industry historically challenged by fragmentation, this level of integration is increasingly valuable.

    Digital experience is also measurable. Every customer interaction generates insight. Metrics such as Customer Satisfaction Scores and Net Promoter Scores allow developers to understand sentiment in real time and refine products, services and processes accordingly. At Sobha Realty, this discipline is reflected in a Customer Satisfaction Score of 88 per cent year-to-date across all channels. This creates a more responsive model, where customer feedback informs continuous improvement rather than being addressed only after handover.

    At the community level, smart home technologies, digitally enabled infrastructure and connected platforms are transforming how residents interact with their homes and neighbourhoods. Energy optimisation systems, predictive maintenance and integrated community services are becoming part of the new quality equation, ensuring that developments continue to evolve after completion.

    This shift is especially relevant in the UAE, where rapid urbanisation, economic diversification and a digitally native population are accelerating the adoption of advanced PropTech solutions. In this environment, digital experience has moved from a competitive advantage to a baseline expectation.

    For developers, the implications are clear. Future success will depend on the ability to combine physical excellence with digital capability. Investment must go beyond architecture and construction into data intelligence, connected ecosystems and continuous innovation.

    The definition of quality in real estate is expanding. It is no longer limited to what is built, but includes how developments are delivered, experienced and managed over time. At Sobha Realty, we believe the future will belong to developers who can combine craftsmanship with connectivity, and design excellence with digital intelligence.

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    Home Feature

    Global Design Perspectives 2026: What Really Matters in Tomorrow’s Spaces

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    By Farah Addada, Head of Workplace & Design UAE, Project & Development Services

    Real estate is evolving at an unprecedented pace, and planning spaces today requires designing for a future that remains fundamentally unpredictable. JLL’s latest Global Design Perspectives report, built on conversations with corporate real estate leaders and surveys of over 12,000 employees across more than 30 markets, reveals a critical insight: leading organizations are not attempting to predict the future. Instead, they are building spaces with inherent adaptability.

    Building for an Uncertain Future

    The era of planning office relocations or retail redesigns years in advance has ended. Hybrid work continues to evolve, artificial intelligence is reshaping entire job categories, and solutions effective last quarter may prove obsolete by next. Consequently, 88% of organizations now identify business agility as a critical priority, rising to 90% for retail portfolios.

    While flexible furniture and short-term leases represent an initial response, forward-thinking organizations are pursuing more comprehensive strategies. They are investing in modular partition systems, plug-and-play infrastructure, and spatial configurations capable of transformation across multiple timeframes: three months, three years, or thirty years. The focus has shifted from moveable elements to fundamentally reimaginable environments.

    The investment case is compelling: 93% of investors recognize that technology-enabled properties deliver stronger performance and returns. Most organizations across all sectors now willingly pay premium rates for technology-ready spaces. However, technology requirements are evolving as rapidly as other workplace dynamics, making flexible technology infrastructure a fundamental requirement rather than an enhancement.

    Progressive organizations are transforming their headquarters into experimentation hubs. They test new configurations, gather feedback, and apply insights across their entire portfolio. This iterative approach proves more effective than committing to a single design vision that may become outdated rapidly.

    The Value of Human Connection in a Digital Age

    As artificial intelligence transforms work processes, a countertrend is emerging: people increasingly seek genuine human connection and spaces that feel authentic, tactile, and grounding.

    The research reveals a compelling narrative. While 65% of people desire unique experiences and 62% seek connection to local culture, a more significant finding emerges: when selecting destinations, 58% prioritize fostering community and belonging compared to 54% who prioritize technology integration. As our environment becomes increasingly digital, authentic human connection has gained substantial value.

    This explains why 61% of consumers globally desire digital detox spaces in the places they visit. A new spatial typology is emerging: no-technology or low-technology zones deliberately integrated within otherwise technology-rich buildings. For workforces increasingly experiencing burnout, these spaces represent essential infrastructure rather than amenities.

    Design science is advancing as well. Neuro-design principles employ specific materials, acoustic treatments, and biophilic elements to enhance cognitive function. Sophisticated acoustic panels serve dual purposes, supporting both aesthetic objectives and environmental comfort while improving concentration. Circadian lighting systems adjust throughout the day, aligning with natural biological rhythms. Plants, natural patterns, and thoughtful material selections create environments with measurable benefits for stress reduction and cognitive performance.

    The most successful spaces will balance advanced technology with profoundly human experiences, creating environments where innovation and wellbeing coexist productively.

    Personalization Across Generational Divides

    Personalization has become ubiquitous across digital services, from streaming recommendations to customized shopping experiences. People now expect similar personalization from physical spaces. However, a significant challenge exists: different generations hold dramatically different expectations.

    Among those aged 25-34, 71% believe AI integration in entertainment venues will enhance their experience significantly. Among those over 64, only 26% share this perspective. Younger demographics seek technology-enhanced experiences, while older generations prefer welcoming atmospheres and hospitality-inspired design over advanced digital features.

    The solution involves designing experience journeys with embedded choice rather than creating demographically segregated spaces. Throughout an individual’s day, offering touchpoints where they can select technology enhancements, upgrade their experience, or access curated activities enables personalization without imposing a uniform vision.

    Retail environments are demonstrating this approach effectively. Stores are creating dedicated spaces for in-person events and personalized shopping experiences, balancing digital innovation with memorable physical interactions. Workplaces employ sensors to understand team behaviors while providing employees with AI-powered applications to customize daily preferences. The emphasis is on providing options rather than mandates.

    Measuring Outcomes Beyond Activities

    A notable contradiction merits attention: 92% of corporations prioritize workforce productivity, and 63% of employees report greater productivity in office environments. Yet a significant disconnect exists between stated priorities and workplace satisfaction.

    When employees describe their ideal workplace, “being able to recharge” and “working in an inspiring, creative environment” rank highest. However, satisfaction with these aspects in current workplaces remains substantially lower. Conversely, elements like “being productive” and “attending scheduled meetings,” which rank lower in ideal importance, score highest for current satisfaction. The industry is optimizing for activities rather than outcomes.

    The most successful spaces in 2026 will extend beyond providing desks and meeting rooms. They will function as connected systems supporting holistic outcomes: innovation capacity, social capital, team performance, and wellbeing. Organizations are increasingly recognizing the importance of “in-between spaces”—areas that are not traditional work zones but where essential interactions and knowledge-sharing occur.

    This approach requires evolved success metrics. Utilization rates and occupancy percentages fail to capture team performance or whether individuals feel inspired. Leading organizations are developing metrics that measure genuine business drivers: collaboration quality, innovation output, and employee experience.

    Strategic Implications for Real Estate Leadership

    These four perspectives represent interconnected shifts in how the industry conceptualizes space, value, and human experience. Whether planning corporate offices, designing retail environments, or managing mixed-use portfolios, the strategic imperative is clear: flexibility, human connection, personalization, and holistic outcomes have evolved from competitive differentiators to fundamental requirements.

    The critical question facing real estate leaders is not whether spaces will require adaptation—they will. The question is whether organizational design strategies possess sufficient sophistication to transform continuous change into sustained competitive advantage. Organizations embracing these perspectives today will create environments that do not merely respond to change but derive strength from it.

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    John Abraham Joins ARMAF as Global Brand Ambassador for Club De Nuit Intense Overdose

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    ARMAF, the global fragrance powerhouse behind one of the world’s most celebrated fragrance collections, proudly announces acclaimed actor, producer and entrepreneur John Abraham as the Global Brand Ambassador for Club De Nuit Intense Overdose. The partnership will make its worldwide debut through a cinematic television commercial (TVC), introducing the boldest chapter yet in the iconic Club De Nuit legacy.

    Inspired by the belief that the most unforgettable fragrances are never simply worn they become obsessions, Club De Nuit Intense Overdose comes to life through a high-octane cinematic heist. Blurring the boundaries between film and fragrance, the campaign is built around mystery, precision and presence, with John Abraham embodying the quiet confidence and unwavering resolve at the heart of the Overdose universe. More than a campaign, it is the beginning of a global story that will unfold across continents, inviting audiences into a world where the extraordinary is always worth the chase.

    Where Two Legacies Become One

    Some partnerships launch products.

    Others define an era. The collaboration between ARMAF and John Abraham brings together two global legacies that have earned admiration through consistency, authenticity and enduring impact. Over the years, ARMAF has transformed the global fragrance landscape, creating some of the world’s most loved fragrances and building an international presence across more than 140 countries. At the heart of this success is the Club De Nuit collection, a franchise that has become a global icon, celebrated for its craftsmanship, exceptional performance and timeless appeal.

    John Abraham’s journey reflects the same relentless pursuit of excellence. Across an illustrious career spanning cinema, entrepreneurship and sport, he has become one of India’s most respected personalities, admired for his discipline, authenticity and unmistakable presence. His influence extends far beyond the screen, inspiring millions through a life defined by conviction rather than convention.

    Together, ARMAF and John Abraham are united by a shared philosophy: true icons are never created overnight. They are built through purpose, consistency and an uncompromising commitment to excellence. More than a brand ambassador announcement, this partnership signals the beginning of a defining new chapter for Club De Nuit Intense Overdose, where two enduring legacies come together to create a global campaign designed to leave a lasting impression.

    John Abraham, Global Brand Ambassador for Club De Nuit Intense Overdose, said: “I’ve always believed that the strongest impression isn’t the one you force, it’s the one you leave behind. That’s what drew me to Club De Nuit Intense Overdose. It has character, confidence and a quiet intensity that stays with you. Partnering with ARMAF felt like a natural fit because we both believe that true impact comes from authenticity. I’m excited for the world to experience this journey with us.”

    At the heart of the campaign is ARMAF’s Sigma philosophy, a mindset of quiet confidence, individuality and self-assurance that naturally aligns with John Abraham’s persona. It also reflects the enduring spirit of the Club De Nuit legacy, a collection that has earned worldwide recognition through exceptional performance, timeless character and unwavering consumer loyalty.

    Club De Nuit Intense Overdose builds upon that legacy with a richer, more intense interpretation of the iconic fragrance. Vibrant notes of pineapple, bergamot and tangerine evolve into oakmoss, vanilla flower and plum before settling into an unforgettable base of patchouli, amber and tonka bean, creating a fragrance that commands attention long after the first encounter.

    The Timeless Heist Goes Global

    The launch of Club De Nuit Intense Overdose extends far beyond a traditional campaign. Following its global debut, ARMAF will roll out The Timeless Heist across key cities in Europe, the United States, Latin America, the GCC and Southeast Asia, transforming the launch into one of the brand’s most ambitious global experiences to date.

    Inspired by the idea that the world’s most coveted things are worth chasing, The Timeless Heist is a cinematic brand universe where obsession becomes the story. Across every market, media, creators, distributors, partners and fragrance enthusiasts will be invited into an immersive world of mystery, pursuit and discovery through spectacular launch events, experiential activations and unforgettable brand moments that blur the boundaries between entertainment and fragrance.

    Every city becomes another chapter of the heist.

    Every experience another clue. Every encounter another reminder that Club De Nuit Intense Overdose is more than a fragrance; it is a global obsession.

    As ARMAF continues to redefine accessible luxury through innovation, craftsmanship and bold creativity, the appointment of John Abraham as Global Brand Ambassador marks one of the most significant milestones in the brand’s international journey. Together, they introduce more than a new fragrance, they unveil a global movement that celebrates the meeting of two enduring legacies and sets a new benchmark for fragrance storytelling, cultural relevance and modern perfumery.

    Club De Nuit Intense Overdose. Hard To Get Over.

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