Abu Dhabi, the economic superpower of the United Arab Emirates (UAE), is renowned as a prime location for real estate investments, offering diverse opportunities for both local and international investors1. Driven by its government’s efforts to diversify the economy beyond oil, the emerging new sectors have created more job opportunities, thus driving a surge in demand for residential and commercial properties. The real estate sector has continued to recover from the COVID-19 pandemic and saw massive growth with the value of transactions in the first quarter of 2023 increasing by 147 percent2, compared to the same period last year.
With more than a decade of experience in investment roles across private equity, real estate investment managers and developers globally, 38-year-old Khairul Abdullah decided to move to Abu Dhabi at the height of the pandemic to work for a leading real estate investor and developer, Aldar Properties.
Khairul shares his journey from how he started his career in the real estate industry to how he enjoys the current quality of life in Abu Dhabi with the Karyawan team.
Q: Could you tell us more about yourself and your family?
Khairul: I am an only child raised by a single mother, who worked odd jobs in hawker centres and school canteens to make ends meet. We did not have a place of our own, hence for the most part of my life, I was living in my late grandmother’s flat with several of my mother’s younger siblings. Growing up, I remember my aunts taking care of me when my mother went to work. These experiences have essentially shaped who I am today, as one who firmly believes that it takes a village to raise a child and will always have deep empathy for people from lower socio-economic backgrounds.
Real Estate Investing with Khairul Abdullah | Karyawan
I got married after completing both my master ’s and bachelor’s degrees from National University of Singapore (NUS). Today I am blessed with three children – Mikhail, 9, Mishal, 8, and Nusaybah, 5, who all go to school here in Abu Dhabi.
Q: What led you to carve a career in real estate?
Khairul: I went through the typical junior college (JC) route. So, like many of my peers, I was mathematically and scientifically inclined. Maths and Science were all we knew. In fact, till today, most of my JC peers are in the STEM field.
Luckily for me, I was exposed to the world of real estate and commerce during my National Service (NS) days when I got hooked on the TV series, The Apprentice. It was a famous reality TV show that featured contestants vying for a job with Donald Trump, a real estate mogul. That was when I decided to switch my NUS course from a STEM-related degree to real estate – a move that I definitely did not regret.
I was in NUS for six years where I did my bachelor’s degree with a specialisation in real estate finance for the first four years. Then in the next two years, I successfully completed my master’s degree in urban economics while working as a research assistant within the NUS Department of Real Estate.
Q: What does your job entail?
Khairul: I started as a real estate finance researcher at NUS, and I have since spent the next decade in investment roles across private equity, real estate investment managers and developers. My career has given me global exposure, travelling to various regions within Asia Pacific, the Middle East, Europe and the US. A lot of the work at the junior level was on investment analysis and recommending to senior leaders on the feasibility of various real estate deals. When I got to middle management, the work entailed mentoring junior colleagues and managing the transaction process. At a more senior level, a lot of the work is on originating transaction ideas, strategising and interacting with investors.
Today, as a Director, I oversee the overall group corporate finance function at Aldar. My job involves crafting policies and advising the CFO and CEO on capital allocation, strategic mergers, and acquisitions and investment appraisal. I also double-hat as a board member for one of our largest subsidiaries, Aldar Hospitality.
Khairul with his colleagues at Aldar Properties
Q: What has your experience been working for a leading real estate investor and developer in Abu Dhabi? Is it a competitive working environment?
Khairul: My past global experiences have definitely helped with the transition. Even though I have changed employers, I am still fundamentally in real estate, a sector that I have covered for years. Thus far, the Aldar experience has been nothing short of great. I have colleagues from multinational backgrounds, and we have a very collaborative environment here at Aldar.
Q: What challenges did you encounter when you moved to Abu Dhabi and how did you overcome them?
Khairul: Logistics will always be a challenge for anyone who is moving to a new place, especially overseas. In my case, there is the need to ship certain belongings, search for a new house to stay in, and of course, secure a school for my children, which is very competitive in Abu Dhabi. Luckily, Aldar helped a fair bit with the onboarding. You have to do your research on schools and areas to stay in before you leave Singapore. Connecting with fellow Singaporeans in Abu Dhabi also helps.
Q: What were you most worried about before you made the move to Abu Dhabi?
Khairul: I have done transactions in Abu Dhabi, and lived in Bahrain in the past, thus I am familiar with the overall environment. There is no real concern about the city. My only concern was my kids’ ability to adapt to the new school environment. Thankfully, we found a great school, they made new friends, and are adapting well.
Q: Was it easier for you and your family to adapt to the new environment since Abu Dhabi is a Muslim city?
Khairul:Alhamdullilah, it is a very easy city to integrate into for Muslims, as well as non-Muslims. Mosques and prayer spaces are everywhere even in the malls, and public toilets are usually very clean too.
Q: How different are the culture and lifestyle in Abu Dhabi compared to Singapore?
Khairul: There are some similarities and differences. One similarity is a big emphasis on family. It is quite common for local Emiratis to gather with their families on Fridays and have iftar together – something which is synonymous with our Malay/Muslim community in Singapore.
The big difference is the driving culture, and taking extended breaks during summer months, which is an opportune time for my family and I to return to Singapore for a break.
Q: Is there a big community of Singaporean Malays living in the UAE?
Khairul: If you include Dubai, then there is a fairly large community. Some of them have been staying in UAE for 20 years or so. But within Abu Dhabi, our community is smaller, and we have our own WhatsApp group to keep in contact.
Q: What have been the highlights of living and working overseas so far?
Khairul: The quality of life in Abu Dhabi is great; you essentially have access to any modern amenities in a Tier 1 city. Cars and petrol are affordable, and when you are eager for some excitement, Dubai is a mere hour’s drive away. It is also a very safe city like Singapore.
Q: Do you recommend Malay/Muslim youths to venture out of Singapore for work?
Khairul: It is essential for youths to gain overseas experience to the extent that is possible for them, for example, via school programmes. Having an international perspective is critical in order to have a wider view of the world. I would still recommend starting your work experience in Singapore given that we are a global hub, so you will receive better training if you work for the right employer. However, if the opportunity arises to work in other global hubs, such as New York or London, I highly encourage it as well.
About the Author
Nur Diyana Jalil is an Executive Officer of People and Culture at AMP Singapore.
