In this episode of Peace & Good Wealth, Loy Carlos sits down with Mungi Adlan- Chairman of Castilion Estates and Managing Partner of Global Wealth Office Dubai- to explore how the region’s vision, diversification, and relentless drive to be “number one” are redefining real estate, wealth migration, and the architecture of legacy.
From off-market developments that never touch the public eye to AI-powered infrastructure and trillion-dollar masterplans, this is a rare look at how the Gulf is positioning itself as the capital of capital- and why serious investors are moving now.
Whether you’re building a generational portfolio, seeking geopolitical advantage, or simply curious about the future of global wealth, this conversation offers an insider’s map to the most ambitious frontier in the world today.
Credits:
Loy Carlos (Host)
Kenneth J. Moore (Executive Producer)
Colin Meagley (Producer)
Perry Law (Producer)
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_02 (00:06):
Broadcasting from Park Avenue in New York City.
Brought to you by Global WealthOffice at Nest Seekers
International and ClassiqueModern.
This is Peace and Good Wealth.
Welcome back to Peace and GoodWealth, a podcast at the
(00:26):
intersection of culture,capital, and consciousness.
I am your host, Loy Carlos, andtoday I'm joined by someone I
deeply respect, not just as apartner in business, but as
fellow architect of legacy.
Mungi Adlan is a chairman ofCastilian Estates, a powerhouse
in golfist real estate.
and now the managing partner ofGlobal Wealth Office Dubai,
(00:48):
where together we are redefininghow global capital engages with
the Middle East.
Our partnership was never simplyabout launching a Dubai office.
It was about building aplatform, one that understands
the nuance of discretion, thegravity of generational
planning, and the power of realestate as influence in a region
undergoing unprecedentedtransformation from skyscrapers
(01:10):
of Dubai and Abu Dhabi to theambitious visions of Saudi
Arabia.
Today, we'll discuss why theGulf has become the new frontier
for serious wealth strategy andwhy now is the moment to act.
Welcome, Munji.
SPEAKER_00 (01:25):
Thank you, Carlos.
It's great to see you today.
And, you know, it looks verybright over there.
It's almost the evening outhere, 7 p.m.
in Dubai.
But, you know, we're alwayshappy to engage and add value to
our audience and the Let's go.
SPEAKER_02 (01:44):
Right.
So let's start from thebeginning because I think most
of...
Let's work our way backwards.
Dubai has been leading in thebuilding and development in the
Middle East.
I think everybody knows that.
It has been transforming...
that part of the Emirates eversince the early 2000s, bringing
(02:10):
in more tourism.
But now it's not just tourismthat it offers, right?
It is now becoming a powerhousein other industries and
technologies as well andattracting people from all over
the world.
How diversified, before in theearly 2000s, there's very few
people that came in as investorsin Dubai, and they're usually
(02:31):
the Western people who had somebusiness there.
But it's very diversified now.
We've got people coming in fromEurope, coming in from Asia.
How has that transformationchanged the way Dubai's market
is?
SPEAKER_00 (02:47):
Well, that's a great question, Lloyd, because we
always go back and look athistory and how far this nation
has transformed.
the global landscape.
Today, fast forward today, 2025,Dubai is a brand.
It cannot be considered as justa city.
(03:10):
It's a global brand that sellsitself.
And, you know, I've beentraveling around the world and
whoever I meet and they ask me,where do you live?
And I say, I live in Dubai.
Oh, wow.
It's become the wow factor that,to every regular person that
I've met.
(03:31):
Not yet talking about the elitesor the ultra wealthy because
they know the weight of Dubaiand what it offers.
But if we historically, thisnation before 1971, which is the
union of the seven Emirates,Dubai, Sharjah, et cetera, They
(03:55):
were, you know, they weretraders.
And they dive in the ArabianGulf.
For pearls.
Yeah, for pearls, right?
And then fast forward 1971,Sheikh Zayed bin Sultan, the
founder of the United ArabEmirates, he went to all these
(04:18):
seven tribes.
So seven emirates, every emiratewas run by a separate tribe.
So he went to the leaders ofthose tribes and he told them,
alone, we are weak.
But if we unite, that's howUnited Arab Emirates was formed,
we become very, very strong.
And that was the time when theydiscovered oil.
(04:42):
Entire structure of thiscountry, after they discovered
oil, they heavily invested inthemselves.
And And believe it or not,Sheikh Zayed bin Sultan Al
Nahyan, which is, well, hepassed away now, may God bless
his soul.
He was genius and he wasilliterate.
(05:05):
He was not able to read andwrite.
But he had a vision to puteverybody together and he did
it.
And he invested heavily ininfrastructure and education.
So all the income that theygenerated from oil he managed to
send UAE nationals abroad tostudy in the global top
(05:30):
universities so they can bringthat power, the knowledge they
gave down to the country.
And he kept investing ininfrastructure.
And every Emirates, until theyhave their own rules and
regulations and how the Emiratesis run, Abu Dhabi is the capital
today and it's recently lastyear it got the name of capital
(05:56):
of capital.
Abu Dhabi is the wealthiest cityin the globe today.
Dubai has always emerged fasterthan any other Emirates because
their vision was we need tocreate a place where everyone
from anywhere in the worldshould come and work and live
(06:21):
here.
And the ruler of Dubai, which isSheikh Mohammed bin Rashid Al
Maktoum, the current ruler, healways had the vision of
becoming number one.
I remember I've seen aninterview for him in the early
80s, and he was interviewed by aBritish TV, and he was asked,
(06:46):
what do you wanna become?
And he said, I want to becomenumber one.
Number one in education, numberone in healthcare, number one in
lifestyle.
And he said, how are you goingto do that?
Why?
Why do you want to become numberone?
And his answer was very simple.
Why not?
SPEAKER_02 (07:01):
Right.
Well, what's interesting is, youknow, I think we had this
conversation before where when Iwas trying to make a decision on
where I would like to be andwhere I want my business to be,
The question that I askedeverybody who tried to pitch me
to go and work and partner withthem was, well, where's the road
(07:23):
to number one?
And I think people are thinkingthat that's a bad thing.
It's overly ambitious to try tobe number one.
But the reality is, is thatwithout the vision to be number
one, you won't see theobstacles.
You won't see the opportunitiesbecause all you're doing is sort
of like plodding along.
(07:43):
But when you have a direction,then it makes a big difference.
I also...
I'm blanking out on its name,but one of the heads of the
banks in Dubai also brought up avery good point about turning
from trade-based industry intomanufacturing industry and
(08:06):
beyond.
It had to do with the Pearl.
And they're saying that whenthey...
they were digging, when theywere diving for pearls, it was a
great business.
But then the Japanese came, Andartificial pearls now were being
produced, and then the value ofpearl went down.
(08:27):
And that technology reallybrought down their industry.
Now, when they discoveredpetroleum, and it's become the
industry of the GCC region, onething they've never forgotten is
how industry...
had brought down, if you rely ononly one thing, you are
(08:52):
vulnerable.
And therefore the first thingthat they wanted to do the
moment the petroleum industryexploded is to try to diversify,
knowing full well that thingsmay change and therefore you
have to be everywhere and on topof everything and not just one
thing and not reliant on onething.
(09:13):
And they've been doing, I thinkwe've seen the last, because
they have a 10-year goal, we'reseeing the acceleration of it.
But what I think a lot of peoplein the world don't know is that
they've been trying to do thisfrom the, beginning of the
discovery of petroleum, etcetera.
(09:33):
Now, in terms of real estate,how has the landscape of real
estate changed?
I know that in the last 20years, Dubai has rapidly changed
in terms of real estate, havingsort of like toured the
different areas.
Dubai is divided into how manydifferent neighborhoods at the
(09:54):
moment?
Or what are the neighborhoodsthat people...
There's Business Bay, right?
And there's De Palme.
Where is development in Dubaireally concentrated at the
moment?
SPEAKER_00 (10:08):
Great question, Loy.
So real estate has reshaped theexistence of Dubai.
And I'll tap into that later inour conversation.
But everything was based on theagility of the leaders and how
fast they can really...
reform the policy and make it awelcoming place to international
(10:33):
investors.
To answer your question, Dubaiis divided into four zones.
So we have the waterfront zones,the waterfront area, and that's
Palm Jumeirah, Amhar Beachfront,Jumeirah Bay, and so on across
the coastal line.
(10:55):
The second zone is the downtownof Dubai, where the Burj
Khalifa, the tallest tower inthe world, and the Dubai Mall,
the largest mall in the world.
And then you've got the DIFC,Dubai International Financial
Center.
This is also considered onezone.
And you have the desert living,and where we call it today Dubai
(11:19):
Land, where most of the...
Mega development is happening.
So currently there are citiesbeing built in Dubai land.
Massive development wheredevelopers are building villas
and townhomes and apartmentbuildings.
(11:41):
And then we have the fourthzone, which is the Dubai South.
And Dubai South is divided intotwo.
You have the new airport area,which is currently under
construction.
It's going to be the largestairport in the world with the
current investment of over$40billion.
(12:01):
The airport will consist of over400 terminals to accommodate
more than 300 million travelersannually.
And you have the Dubai ExpoCity.
It's also considered part ofDubai South.
The Expo City was the home ofDubai Expo 2020, which happened
(12:23):
in 2021 due to the pandemic.
It was a very successful expo.
And that itself is a globalcity.
It's going to host the largesttrade center in the world as
well.
And down the road from DubaiExpo City, we have Dubai
Industrial Zone.
(12:43):
Mm-hmm.
where it's going to be a homefor the largest and the most
sophisticated industries aroundthe world.
So the city is emerging super,super fast with mega development
across the city.
I think there will be enoughbusiness for contractors and
(13:04):
builders for the next 30 years.
So
SPEAKER_02 (13:08):
what's striking, I think what you were saying is,
Of the zones that you talkedabout, only one of them seems to
be simply tourism-based.
I would assume that obviouslythe coastal communities are
prime for tourism, hospitality,etc.
(13:29):
But if there are technology andindustrial cities that are being
built, you know, then it alsomeans that they are anticipating
other industries coming in.
And the Crown Prince has been aleader, I think, in transforming
the thinking of trying to bringin artificial intelligence and
(13:54):
science and technology,environmental conservation into
Dubai.
And, you know, with the...
with the intent of being aleader in those industries, are
we seeing...
industries from different placesin Europe and Asia beginning to
sprout and not just a financial,because finance is easy,
(14:18):
wherever the money is, that'swhere they sprout, right?
But actually manufacturingindustries, schools, education
and all of that stuff, when theybegin in a region, then it
becomes a full-blown part ofculture in the country.
Is that where we're headed inDubai,
SPEAKER_00 (14:41):
you think?
I think Dubai is probably 10million years ahead of everybody
globally.
We've seen the sound of theartificial intelligence coming
up recently in the past probablyone and a half year, where the
(15:02):
global market has understoodthat there is a technology
called artificial intelligenceand it could be utilized into
businesses.
Believe it or not, in 2016,Dubai has established the first
ministry of artificialintelligence before everybody
(15:25):
was looking into artificial
SPEAKER_01 (15:26):
intelligence.
SPEAKER_00 (15:28):
And they were far ahead of everybody else of
trying to understand how toregulate AI.
and what sort of industries theycould really tap into utilizing
the power of AI.
And they were one of the firstcountries, or I would say the
first country to implementartificial intelligence in
(15:51):
predictive maintenance intelecom companies.
So they use the data of why theBTC towers fails And they use
artificial intelligence topredict if a similar symptoms
are happening.
So they would go on and maintainthe tower before it goes totally
(16:13):
offline.
And that has saved the telecomindustry here billions of
dollars because you don't runout of business or your service
doesn't cut out because of afailure in a tower or two.
and utilize that industry aswell to understand the customer
charm.
Why would a customer of aspecific telecom provider would
(16:34):
decide to leave that providerand go to the other competitor?
And they've implemented that andthe AI works competitively to
understand certain patterns andthen advise the marketing and
the sales and the retention teamof what offers they need to
provide to their clients.
SPEAKER_02 (16:56):
So why do you think the vision, one would think that
the leaders, the Western world,specifically the United States,
do we have that?
I mean, I would assume that wehave some sort of a function of
that now, but I think the UAE,Dubai in particular, are much
(17:19):
more nimble in getting to it,getting to the bottom of things.
Is it capital?
Or is it the less bureaucracy ora combination of both?
SPEAKER_00 (17:34):
Believe it or not, Dubai is not reliant on capital.
Capital comes anyway.
Capital is invited here.
And now capitalists understandthat their growth rate is much
faster being in Dubai thananywhere in the world.
But just to give you a bit ofunderstanding, the rulers are
(17:59):
royals.
So this country is run by aroyal system.
That means the decision is donein the house by the royal house.
So less bureaucracy, that's100%.
And part of the initiative thatthe Royal Office is continuously
and proactively developing isreduce government bureaucracies.
(18:24):
In Dubai, we don't really needto visit the government office.
Everything is digital.
We have an app for everything.
You want to give someone powerof attorney, you would do it
over Zoom.
And within 30 minutes, you havethe power of attorney in your
email.
You don't have to visit anylawyer.
You don't have to go to anypublic notary office.
Everything comes to you.
The government, the vision was,look, it's very easy to become
(18:49):
number one.
And probably this is quitecommon for us and has become
normal.
The biggest building in theworld, the tallest residential
tower in the world, the longestdriver, less metro in the world.
So the vision behind that is itwas very easy to become number
one.
but the toughest part is toremain number
SPEAKER_02 (19:10):
one.
Number one, yeah, always.
Because there's only onedirection, which is down, right?
When you're at the top, there'sonly one direction.
So maintaining that number onestatus is the most difficult
part.
But when we talk about Dubai, Idon't want to discount the other
Emirates as well, Abu Dhabi inparticular.
But to me, it's sort of akin towhen you go out of the US and
(19:38):
somebody asks you where you'refrom, You don't say America, you
say New York, you sayCalifornia, et cetera.
And Dubai is that for the UAE.
I think most people can namemaybe two or three of the
Emirates, Sharjah in Abu Dhabiand Dubai, and then sort of like
(20:00):
trail off with the rest.
But people also who have notbeen to Dubai should understand
that the culture is very rich.
in the UAE.
And it's very well preserved.
The things that we see on TikTokand Instagram is only a snippet
of what the UAE really offers.
(20:21):
Yes, they offer five-starhospitality.
They offer five-star restaurantservices, first-class services.
support for businesses andindustries but it's also a
country very rich in culture anddriving and Abu Dhabi for
(20:43):
instance is significantly incontext and texture different
from what Dubai is.
And for a reason, they wouldlike to maintain the integrity
of the different Emirates,right?
So talk to us a little bit aboutAbu Dhabi.
What's happening in Abu Dhabithese days?
SPEAKER_00 (21:03):
Abu Dhabi is the capital of the United Arab
Emirates, just like WashingtonDC in America.
That's where the federaldecisions are being taken for
the benefit of the nations andthe benefit of the business.
and the growth of the country.
But Abu Dhabi is positioningitself as completely different
(21:23):
than Dubai.
I'll give you some of theculture that Abu Dhabi is
representing.
First, today, Abu Dhabi is thecapital of capital due to the
largest investment they makeglobally and also the largest
(21:44):
investment hub where foreigninvestors move their family
offices, their hedge funds toAbu Dhabi.
They created a free zone calledAbu Dhabi Global Market, where
most of the largest hedge fundsaround the world opened an
office there.
And some of the largest familyoffices moved to Abu Dhabi due
(22:08):
to the resilience of policy andsome other benefits such as zero
income tax.
So individuals in the UAE enjoyzero income tax when they
establish their residency or taxresidency in the UAE.
And it's unmatchedinfrastructure and safety, state
(22:28):
of art healthcare and governanceand ultra modern transport and
low crime levels.
Abu Dhabi is also positioningitself as a cultural hub So you
have Guggenheim Museum iscurrently being built in Abu
Dhabi.
You have the Sheikh ZayedMuseum, the first university of
artificial intelligence is inAbu Dhabi.
(22:50):
You have currently Disneyannounced an investment in Abu
Dhabi, but before Disney, youhave Warner Brothers, they
established a large cultural hubin the UAE.
You have multiple otherinvestments that's positioning
(23:13):
Abu Dhabi as a super capital inthe world.
And believe it or not, theUnited Nations has recorded
globally over about 196 nations.
In the UAE, there are over 200and seven nationalities living
(23:34):
in Dubai or in the UAE.
So they have beaten what theUnited Nations have recorded
internationally.
SPEAKER_02 (23:43):
I think this is going to be a twofold question.
One is that there are obviouslymultiple opportunities to live
in and invest and work in theUAE.
Why is it important to work withpeople like us?
(24:07):
Not to pat ourselves on theshoulder, but we perform a
particular service.
Why can't somebody just, well,I'm going to go to Dubai and I'm
going to shop for villas andmansions, et cetera.
What is the benefit of the typeof wealth advisory and asset
(24:28):
advisory and acquisition andstructuring that we offer to
someone who is coming into Dubaiwho presumably doesn't have any
other ties to it until thatmoment?
SPEAKER_00 (24:44):
I think the most important element to family
offices or ultra high net worthindividuals is privacy.
And when you talk aboutbillionaires' migrations, there
is a report from United Bank ofSwitzerland about billionaire
(25:05):
migrations globally.
UAE last year welcomed over6,700 millionaires.
And this year, we are welcomingover 9,800 millionaires.
And some of the key figuresglobally, they started moving to
Dubai.
I'll give you a few names, thewell-known names.
(25:25):
In the world, you have JohnFredrickson, a Norwegian
shipping oil magnate with anestimated net worth of about 17
billion.
He recently relocated to Dubaifrom London.
He moved his business.
He sold his estate in the UK for380 million pounds and moved
(25:49):
everything, moved his family,his business, everything moved
to Dubai.
And all that wealth came about.
You have Michael Pat, Britain'srichest hedge fund manager, Blue
Crest Capital, with around 18.8billion in net worth.
He moved to Dubai.
You have Sharvin Bharti Mittal.
(26:12):
He runs the Bharti businessempire and his personal net
worth of about 13.8 billion, andhis family net worth is about
27.2 billion.
They moved to Dubai.
So those type of names, whenthey want to make that move,
they like discretion.
They don't buy things that areavailable in the market.
(26:35):
They like things that aremarket.
They have a certain lifestyle.
They have certain structure thatthey prefer, and they don't want
the rest of the world to knowabout it.
Not simply go online or theywouldn't go online themselves,
but their assistants or theirmanagers go online and shop for
(26:57):
assets for them.
Everything comes throughreferrals, through a trusted
network.
And this is where we come in.
This is where we come in.
We offer totally off markets,super luxury assets.
(27:17):
We know how to structure thoseassets.
Obviously, no billionaire holdsany asset under their name
directly.
So they have structure.
You have a foundation, you havea trust, you have a holding
company.
And when they are moving toDubai, which is a new
jurisdiction for them, differentlaws, different ecosystem, they
(27:37):
would still want to protecttheir names, their legacy, and
they would not want to work witha regular broker.
They want someone to understandtheir needs and exactly what
they want.
SPEAKER_02 (27:53):
They don't have time.
Yeah, and also I think they wantto work with people who have
proven, not only just provenbusiness and success, but also
proven discretion in which wetalk about it.
These are not...
These types of people are notthe ones where, you know, I wag
my hands on Instagram and thenall of a sudden they're buying
(28:14):
this particular.
But I think what most peopledon't understand, especially in
the Middle East, especiallythese types of people all over
the world, is that the valuethat they place in something
that's exclusive and nobody elseknows about is paramount to
them.
That the more people see or haveaccess to certain properties,
(28:36):
the less likely they'll beintrigued or more interested in
them.
And that we also get them notjust in talking about real
estate, but talking about salesof yachts, of fine art, of all
of this, being in front of themwherever they are in the world.
And this is where theseconversations happen, where
(29:00):
somebody will tell us, I amselling my estate for$300
million if you have somebody.
And it's not like we would gotake pictures of them, do a
video and put it on theinternet.
It's not that kind of service.
It's a very exclusive eliteservice.
And you can only do that whenyou have the proven reputation
(29:21):
for doing so.
And you have the proven globaloutreach, you know, not some
affiliate or franchise ornetwork of networks, et cetera,
where you're referring it tosomebody you don't know.
These direct, I think,relationships, like between us,
you know, in Dubai, you know,Global World Dubai, Global
Maritima, Global World St.
Moritz, this is where thesepeople are.
(29:45):
And it's important to know thesensibilities, to know their
predisposition, to know theirlevel of discretion that they
command.
And also, Time is always theirs.
You know, it's not like youcan't hurry them up in making a
(30:07):
decision.
And when they decide they wantit now, you know, so it's a
very, you know, so their idea ofdecision-making and the process
of decision-making is not anormal person's idea.
But also we talked about,because I asked you why there's
like a development like Damak,do a you know like a this is
(30:32):
venice type this is milan typethis is rome this is paris etc
right when and the question iasked you was like when people
can just go to venice if theywanted to go see venice or milan
or and you told me somethingvery interesting which is that
we forget that not everybody inthe world can go to places like
(30:52):
that it's not as easy for themAnd so coming to something close
like that in the Middle East, inDubai, in the region where they
are, or closer to where theyare, is just as good.
So living in a Venetian typevilla versus living in Venice,
(31:15):
they're two different things.
Right?
Yeah.
And, and, and, you know, it's,it's almost like, you know, all
of these different cultures fromaround the world finding, um,
because I think in thebeginning, I think prior to
Dubai, you know, doing thisdevelopment, um, you know, you
know, the, and Qatar doingdevelopments and Saudi doing
(31:35):
developments, the, the, the mostof the world probably thought
about living in the Middle Eastas a function of, um, either
living in the, in, in the regionfor, petroleum or
petroleum-based industries ordevelopment as an overseas
worker.
Or the other one is the peoplewho want to be near Jeddah or in
(32:01):
Saudi Arabia to do somepilgrimages, right?
The other parts like tourism andliving there as a part of a
lifestyle, is a game changer forthe Middle East.
Now, everybody's competing to bethe next Monaco of the Middle
East.
Now, what's going on with Saudi?
Just briefly, it's a much, much,much larger market that's going
(32:29):
to explode.
And they also have...
What should we...
What should we be looking at asSaudi continues its growth and
development as well?
SPEAKER_00 (32:46):
Saudi, interestingly, has been reformed
recently since the Crown Princeof Saudi Arabia, His Highness
Sheikh Mohammed bin Salman, cameto run the country.
And he had one vision.
We have to transform.
We have to catch up.
And what he has introduced,first thing he introduced, he
(33:11):
allowed women to drive.
Women were not allowed to drivebefore that.
So he has launched a culturalrevolution change.
He is trying to reform themindset first by accepting
certain things are the fullrights of human beings, And then
(33:34):
they moved into investment.
Saudi Arabia today is one of thelargest country that is super,
super developing mega projectsin the region or in the world as
well.
And they have launched anentertainment events so they can
welcome people from the globe tocome and visit Saudi, explore
(33:58):
Saudi, right?
And they were also veryconsistent and careful about in
opening up everything.
Because Saudi Arabia is the homefor the most holy place for
Muslims, which is Mecca and theKaaba.
And that religious connection isnot as easy as it looks like to
(34:25):
open up to the globe and docertain things differently.
Recently, just two weeks ago,the real estate regulations in
Saudi Arabia has changed, wherethey allow non-Saudis or foreign
nationals to own piece of realestate across certain zones.
(34:49):
And that it could be the capitalof Riyadh or Jeddah.
Mecca is a holy place, so it'sonly for Saudi for now.
I don't think that will changeat all.
But the rest of Saudi Arabia isreforming.
Branded residents, they are bigin Saudi Arabia.
So we have the Trump Tower beingbuilt in Jeddah.
(35:12):
The Four Seasons and otherglobal brands are positioning
themselves in Saudi Arabia.
They are doing their best tobecome a global hub as well.
But The road is still a bitlong, but that's also an
opportunity because this is anemerging market.
(35:34):
So for investments as well,Saudi Arabia would be one of the
most attractive destinations toinvest in if you're looking to
invest in the Middle East after,obviously, the United Arab
Emirates and Dubai.
SPEAKER_02 (35:48):
I think that's the GCC region, I think, What is the
most impressive to me is thelonger you get to know them, the
longer you get to know twothings about them.
One is that there is a genuinedesire to be positive about the
(36:13):
future and to create a legacyfor the future.
because of the history, becauseof where they've come from,
there is a commitment and adedication to ensure that from
generations, future generations,have something to inherit, a
rich history and culture andcountry to inherit.
(36:37):
I think that's one thing.
The second thing is that trustis something that you earn,
right?
You know, it's not a given.
But once you've earned thetrust, the positive things, you
know, can come out of that, youknow, that relationship.
Now, to cap everything off, Ijust wanted, you know, because
(37:01):
when you come here in New York,we're going to do like a
personal, you know, podcast backin the CEO, in the office, but
now in person.
Now, but where, tell us, To wrapit up, where does global wealth
Dubai powered by Castilianestates?
What should we look forward to?
(37:21):
What is the next step for us?
We wanted to do a roadshow andit's a lot of it is education.
But how do people get to us?
How do people get to you ifthey're in Dubai, etc.?
UNKNOWN (00:00):
?
SPEAKER_00 (37:39):
Great.
Global Wealth Dubai, I thinkit's positioned perfectly where
the global capital is moving tothe UAE.
And when such plans happen, theyneed people on the ground to
execute before the arrival ofthose elite.
(38:02):
And global wealth is positionedtoday globally, not only in the
US or or in the UAE to servicespecific people with a specific
need.
I think the global network ofGlobal Wealth Office itself,
it's a gateway to help thattransition happen seamlessly.
(38:26):
Global Wealth Office Dubai todayhas access to ultra, ultra
luxury real estate that are notin the market, are not even
being marketed by the developer.
We have few assets that arealready built.
We have few assets that arecurrently under construction and
(38:49):
it's not in the internet.
You can't find it in theinternet.
You need an invitation.
It's literally by invitation,although you have to submit the
buyer's profile and that profilehas to be approved, then you are
welcome to see what thesedevelopment has to
SPEAKER_01 (39:06):
offer.
SPEAKER_00 (39:08):
And we provide that service seamlessly because we
hold great relationship withthose top developers that are
completely silent and off marketand they don't market to anyone.
And most of our clients today,they come through referrals,
they come through law firms,they come through wealth
(39:28):
managers.
We play in the same domain, wejust provide a different service
to those clientele.
And we are also planning aroadshow in New York in
September, where we are going toeducate a lot of people about
how they can access Dubaidirectly from New York, from
(39:50):
Global Office New York City.
without the need to travel toDubai.
We could provide that seamlesstransaction and you don't need a
lawyer in Dubai to buy aproperty.
Everything is supervised andgoverned by the government of
Dubai and the Dubai LandDepartment.
(40:12):
that you don't need an attorneyto pay them thousands and
thousands of dollars to draftthe contract or to manage your
escrow or transfer your funds.
Everything is done through thelegal challenge, through the
legal channels, which is thesupervisory of the transaction
is the Dubai government itself.
You don't need a guarantee thanthat.
(40:35):
And that's why global wealth isable to, to service those people
seamlessly without even tostress out how I'm going to
transfer my money, how I'm goingto open a bank account down
there, how I'm going to buy thatproperty, or how I'm going to
move my assets down there.
We provide that service from Ato Z from where they live
(40:56):
currently.
SPEAKER_02 (40:57):
Right.
SPEAKER_00 (40:58):
And
SPEAKER_02 (40:59):
it's also important, I think, for them to know that
we...
we have multiple professionalswho speak multiple different
languages.
whether it's, you know, Mandarinor, you know, Russian or, you
know, or Arabic, you know, orHebrew or whatever, you know, or
Spanish or whatever.
(41:20):
We have people.
So if it's more comfortable forthem to speak to somebody in
their native language, we couldprovide that.
And that the Global WealthOffice, our goal, and you and I
talked about it, is that you cancall us at any point in the day,
wherever you are, andsomebody...
will be able to help you, right?
(41:40):
The idea is that we are oneworld, we are one market, and
our focus is not on everybodybecause it's impossible to
provide services to everybody.
But specifically for the peoplewho desire a level of service
that's very discrete in thehighest quality of products and
(42:05):
in the most efficient wayprocess as possible.
We are not just, you know, we'renot salespeople.
We're trustworthy advisors.
And our relationships go notjust...
years, but decades andgenerations of people who have
(42:25):
used, you know, provided thatservice.
And on that note, thank you somuch, Moonji, you know, for
spending this time with me.
And on behalf of Colin Migleyand Kenneth Moore and Perry Law,
this is Loy Carlos wishing youpeace and good wealth.
Broadcasting from Park Avenue in New York City.
Brought to you by Global WealthOffice at Nest Seekers
International and ClassiqueModern.
This is Peace and Good Wealth.
Welcome back to Peace and GoodWealth, a podcast at the
(00:26):
intersection of culture,capital, and consciousness.
I am your host, Loy Carlos, andtoday I'm joined by someone I
deeply respect, not just as apartner in business, but as
fellow architect of legacy.
Mungi Adlan is a chairman ofCastilian Estates, a powerhouse
in golfist real estate.
and now the managing partner ofGlobal Wealth Office Dubai,
(00:48):
where together we are redefininghow global capital engages with
the Middle East.
Our partnership was never simplyabout launching a Dubai office.
It was about building aplatform, one that understands
the nuance of discretion, thegravity of generational
planning, and the power of realestate as influence in a region
undergoing unprecedentedtransformation from skyscrapers
(01:10):
of Dubai and Abu Dhabi to theambitious visions of Saudi
Arabia.
Today, we'll discuss why theGulf has become the new frontier
for serious wealth strategy andwhy now is the moment to act.
Welcome, Munji.
SPEAKER_00 (01:25):
Thank you, Carlos.
It's great to see you today.
And, you know, it looks verybright over there.
It's almost the evening outhere, 7 p.m.
in Dubai.
But, you know, we're alwayshappy to engage and add value to
our audience and the Let's go.
SPEAKER_02 (01:44):
Right.
So let's start from thebeginning because I think most
of...
Let's work our way backwards.
Dubai has been leading in thebuilding and development in the
Middle East.
I think everybody knows that.
It has been transforming...
that part of the Emirates eversince the early 2000s, bringing
(02:10):
in more tourism.
But now it's not just tourismthat it offers, right?
It is now becoming a powerhousein other industries and
technologies as well andattracting people from all over
the world.
How diversified, before in theearly 2000s, there's very few
people that came in as investorsin Dubai, and they're usually
(02:31):
the Western people who had somebusiness there.
But it's very diversified now.
We've got people coming in fromEurope, coming in from Asia.
How has that transformationchanged the way Dubai's market
is?
SPEAKER_00 (02:47):
Well, that's a great question, Lloyd, because we
always go back and look athistory and how far this nation
has transformed.
the global landscape.
Today, fast forward today, 2025,Dubai is a brand.
It cannot be considered as justa city.
(03:10):
It's a global brand that sellsitself.
And, you know, I've beentraveling around the world and
whoever I meet and they ask me,where do you live?
And I say, I live in Dubai.
Oh, wow.
It's become the wow factor that,to every regular person that
I've met.
(03:31):
Not yet talking about the elitesor the ultra wealthy because
they know the weight of Dubaiand what it offers.
But if we historically, thisnation before 1971, which is the
union of the seven Emirates,Dubai, Sharjah, et cetera, They
(03:55):
were, you know, they weretraders.
And they dive in the ArabianGulf.
For pearls.
Yeah, for pearls, right?
And then fast forward 1971,Sheikh Zayed bin Sultan, the
founder of the United ArabEmirates, he went to all these
(04:18):
seven tribes.
So seven emirates, every emiratewas run by a separate tribe.
So he went to the leaders ofthose tribes and he told them,
alone, we are weak.
But if we unite, that's howUnited Arab Emirates was formed,
we become very, very strong.
And that was the time when theydiscovered oil.
(04:42):
Entire structure of thiscountry, after they discovered
oil, they heavily invested inthemselves.
And And believe it or not,Sheikh Zayed bin Sultan Al
Nahyan, which is, well, hepassed away now, may God bless
his soul.
He was genius and he wasilliterate.
(05:05):
He was not able to read andwrite.
But he had a vision to puteverybody together and he did
it.
And he invested heavily ininfrastructure and education.
So all the income that theygenerated from oil he managed to
send UAE nationals abroad tostudy in the global top
(05:30):
universities so they can bringthat power, the knowledge they
gave down to the country.
And he kept investing ininfrastructure.
And every Emirates, until theyhave their own rules and
regulations and how the Emiratesis run, Abu Dhabi is the capital
today and it's recently lastyear it got the name of capital
(05:56):
of capital.
Abu Dhabi is the wealthiest cityin the globe today.
Dubai has always emerged fasterthan any other Emirates because
their vision was we need tocreate a place where everyone
from anywhere in the worldshould come and work and live
(06:21):
here.
And the ruler of Dubai, which isSheikh Mohammed bin Rashid Al
Maktoum, the current ruler, healways had the vision of
becoming number one.
I remember I've seen aninterview for him in the early
80s, and he was interviewed by aBritish TV, and he was asked,
(06:46):
what do you wanna become?
And he said, I want to becomenumber one.
Number one in education, numberone in healthcare, number one in
lifestyle.
And he said, how are you goingto do that?
Why?
Why do you want to become numberone?
And his answer was very simple.
Why not?
SPEAKER_02 (07:01):
Right.
Well, what's interesting is, youknow, I think we had this
conversation before where when Iwas trying to make a decision on
where I would like to be andwhere I want my business to be,
The question that I askedeverybody who tried to pitch me
to go and work and partner withthem was, well, where's the road
(07:23):
to number one?
And I think people are thinkingthat that's a bad thing.
It's overly ambitious to try tobe number one.
But the reality is, is thatwithout the vision to be number
one, you won't see theobstacles.
You won't see the opportunitiesbecause all you're doing is sort
of like plodding along.
(07:43):
But when you have a direction,then it makes a big difference.
I also...
I'm blanking out on its name,but one of the heads of the
banks in Dubai also brought up avery good point about turning
from trade-based industry intomanufacturing industry and
(08:06):
beyond.
It had to do with the Pearl.
And they're saying that whenthey...
they were digging, when theywere diving for pearls, it was a
great business.
But then the Japanese came, Andartificial pearls now were being
produced, and then the value ofpearl went down.
(08:27):
And that technology reallybrought down their industry.
Now, when they discoveredpetroleum, and it's become the
industry of the GCC region, onething they've never forgotten is
how industry...
had brought down, if you rely ononly one thing, you are
(08:52):
vulnerable.
And therefore the first thingthat they wanted to do the
moment the petroleum industryexploded is to try to diversify,
knowing full well that thingsmay change and therefore you
have to be everywhere and on topof everything and not just one
thing and not reliant on onething.
(09:13):
And they've been doing, I thinkwe've seen the last, because
they have a 10-year goal, we'reseeing the acceleration of it.
But what I think a lot of peoplein the world don't know is that
they've been trying to do thisfrom the, beginning of the
discovery of petroleum, etcetera.
(09:33):
Now, in terms of real estate,how has the landscape of real
estate changed?
I know that in the last 20years, Dubai has rapidly changed
in terms of real estate, havingsort of like toured the
different areas.
Dubai is divided into how manydifferent neighborhoods at the
(09:54):
moment?
Or what are the neighborhoodsthat people...
There's Business Bay, right?
And there's De Palme.
Where is development in Dubaireally concentrated at the
moment?
SPEAKER_00 (10:08):
Great question, Loy.
So real estate has reshaped theexistence of Dubai.
And I'll tap into that later inour conversation.
But everything was based on theagility of the leaders and how
fast they can really...
reform the policy and make it awelcoming place to international
(10:33):
investors.
To answer your question, Dubaiis divided into four zones.
So we have the waterfront zones,the waterfront area, and that's
Palm Jumeirah, Amhar Beachfront,Jumeirah Bay, and so on across
the coastal line.
(10:55):
The second zone is the downtownof Dubai, where the Burj
Khalifa, the tallest tower inthe world, and the Dubai Mall,
the largest mall in the world.
And then you've got the DIFC,Dubai International Financial
Center.
This is also considered onezone.
And you have the desert living,and where we call it today Dubai
(11:19):
Land, where most of the...
Mega development is happening.
So currently there are citiesbeing built in Dubai land.
Massive development wheredevelopers are building villas
and townhomes and apartmentbuildings.
(11:41):
And then we have the fourthzone, which is the Dubai South.
And Dubai South is divided intotwo.
You have the new airport area,which is currently under
construction.
It's going to be the largestairport in the world with the
current investment of over$40billion.
(12:01):
The airport will consist of over400 terminals to accommodate
more than 300 million travelersannually.
And you have the Dubai ExpoCity.
It's also considered part ofDubai South.
The Expo City was the home ofDubai Expo 2020, which happened
(12:23):
in 2021 due to the pandemic.
It was a very successful expo.
And that itself is a globalcity.
It's going to host the largesttrade center in the world as
well.
And down the road from DubaiExpo City, we have Dubai
Industrial Zone.
(12:43):
Mm-hmm.
where it's going to be a homefor the largest and the most
sophisticated industries aroundthe world.
So the city is emerging super,super fast with mega development
across the city.
I think there will be enoughbusiness for contractors and
(13:04):
builders for the next 30 years.
So
SPEAKER_02 (13:08):
what's striking, I think what you were saying is,
Of the zones that you talkedabout, only one of them seems to
be simply tourism-based.
I would assume that obviouslythe coastal communities are
prime for tourism, hospitality,etc.
(13:29):
But if there are technology andindustrial cities that are being
built, you know, then it alsomeans that they are anticipating
other industries coming in.
And the Crown Prince has been aleader, I think, in transforming
the thinking of trying to bringin artificial intelligence and
(13:54):
science and technology,environmental conservation into
Dubai.
And, you know, with the...
with the intent of being aleader in those industries, are
we seeing...
industries from different placesin Europe and Asia beginning to
sprout and not just a financial,because finance is easy,
(14:18):
wherever the money is, that'swhere they sprout, right?
But actually manufacturingindustries, schools, education
and all of that stuff, when theybegin in a region, then it
becomes a full-blown part ofculture in the country.
Is that where we're headed inDubai,
SPEAKER_00 (14:41):
you think?
I think Dubai is probably 10million years ahead of everybody
globally.
We've seen the sound of theartificial intelligence coming
up recently in the past probablyone and a half year, where the
(15:02):
global market has understoodthat there is a technology
called artificial intelligenceand it could be utilized into
businesses.
Believe it or not, in 2016,Dubai has established the first
ministry of artificialintelligence before everybody
(15:25):
was looking into artificial
SPEAKER_01 (15:26):
intelligence.
SPEAKER_00 (15:28):
And they were far ahead of everybody else of
trying to understand how toregulate AI.
and what sort of industries theycould really tap into utilizing
the power of AI.
And they were one of the firstcountries, or I would say the
first country to implementartificial intelligence in
(15:51):
predictive maintenance intelecom companies.
So they use the data of why theBTC towers fails And they use
artificial intelligence topredict if a similar symptoms
are happening.
So they would go on and maintainthe tower before it goes totally
(16:13):
offline.
And that has saved the telecomindustry here billions of
dollars because you don't runout of business or your service
doesn't cut out because of afailure in a tower or two.
and utilize that industry aswell to understand the customer
charm.
Why would a customer of aspecific telecom provider would
(16:34):
decide to leave that providerand go to the other competitor?
And they've implemented that andthe AI works competitively to
understand certain patterns andthen advise the marketing and
the sales and the retention teamof what offers they need to
provide to their clients.
SPEAKER_02 (16:56):
So why do you think the vision, one would think that
the leaders, the Western world,specifically the United States,
do we have that?
I mean, I would assume that wehave some sort of a function of
that now, but I think the UAE,Dubai in particular, are much
(17:19):
more nimble in getting to it,getting to the bottom of things.
Is it capital?
Or is it the less bureaucracy ora combination of both?
SPEAKER_00 (17:34):
Believe it or not, Dubai is not reliant on capital.
Capital comes anyway.
Capital is invited here.
And now capitalists understandthat their growth rate is much
faster being in Dubai thananywhere in the world.
But just to give you a bit ofunderstanding, the rulers are
(17:59):
royals.
So this country is run by aroyal system.
That means the decision is donein the house by the royal house.
So less bureaucracy, that's100%.
And part of the initiative thatthe Royal Office is continuously
and proactively developing isreduce government bureaucracies.
(18:24):
In Dubai, we don't really needto visit the government office.
Everything is digital.
We have an app for everything.
You want to give someone powerof attorney, you would do it
over Zoom.
And within 30 minutes, you havethe power of attorney in your
email.
You don't have to visit anylawyer.
You don't have to go to anypublic notary office.
Everything comes to you.
The government, the vision was,look, it's very easy to become
(18:49):
number one.
And probably this is quitecommon for us and has become
normal.
The biggest building in theworld, the tallest residential
tower in the world, the longestdriver, less metro in the world.
So the vision behind that is itwas very easy to become number
one.
but the toughest part is toremain number
SPEAKER_02 (19:10):
one.
Number one, yeah, always.
Because there's only onedirection, which is down, right?
When you're at the top, there'sonly one direction.
So maintaining that number onestatus is the most difficult
part.
But when we talk about Dubai, Idon't want to discount the other
Emirates as well, Abu Dhabi inparticular.
But to me, it's sort of akin towhen you go out of the US and
(19:38):
somebody asks you where you'refrom, You don't say America, you
say New York, you sayCalifornia, et cetera.
And Dubai is that for the UAE.
I think most people can namemaybe two or three of the
Emirates, Sharjah in Abu Dhabiand Dubai, and then sort of like
(20:00):
trail off with the rest.
But people also who have notbeen to Dubai should understand
that the culture is very rich.
in the UAE.
And it's very well preserved.
The things that we see on TikTokand Instagram is only a snippet
of what the UAE really offers.
(20:21):
Yes, they offer five-starhospitality.
They offer five-star restaurantservices, first-class services.
support for businesses andindustries but it's also a
country very rich in culture anddriving and Abu Dhabi for
(20:43):
instance is significantly incontext and texture different
from what Dubai is.
And for a reason, they wouldlike to maintain the integrity
of the different Emirates,right?
So talk to us a little bit aboutAbu Dhabi.
What's happening in Abu Dhabithese days?
SPEAKER_00 (21:03):
Abu Dhabi is the capital of the United Arab
Emirates, just like WashingtonDC in America.
That's where the federaldecisions are being taken for
the benefit of the nations andthe benefit of the business.
and the growth of the country.
But Abu Dhabi is positioningitself as completely different
(21:23):
than Dubai.
I'll give you some of theculture that Abu Dhabi is
representing.
First, today, Abu Dhabi is thecapital of capital due to the
largest investment they makeglobally and also the largest
(21:44):
investment hub where foreigninvestors move their family
offices, their hedge funds toAbu Dhabi.
They created a free zone calledAbu Dhabi Global Market, where
most of the largest hedge fundsaround the world opened an
office there.
And some of the largest familyoffices moved to Abu Dhabi due
(22:08):
to the resilience of policy andsome other benefits such as zero
income tax.
So individuals in the UAE enjoyzero income tax when they
establish their residency or taxresidency in the UAE.
And it's unmatchedinfrastructure and safety, state
(22:28):
of art healthcare and governanceand ultra modern transport and
low crime levels.
Abu Dhabi is also positioningitself as a cultural hub So you
have Guggenheim Museum iscurrently being built in Abu
Dhabi.
You have the Sheikh ZayedMuseum, the first university of
artificial intelligence is inAbu Dhabi.
(22:50):
You have currently Disneyannounced an investment in Abu
Dhabi, but before Disney, youhave Warner Brothers, they
established a large cultural hubin the UAE.
You have multiple otherinvestments that's positioning
(23:13):
Abu Dhabi as a super capital inthe world.
And believe it or not, theUnited Nations has recorded
globally over about 196 nations.
In the UAE, there are over 200and seven nationalities living
(23:34):
in Dubai or in the UAE.
So they have beaten what theUnited Nations have recorded
internationally.
SPEAKER_02 (23:43):
I think this is going to be a twofold question.
One is that there are obviouslymultiple opportunities to live
in and invest and work in theUAE.
Why is it important to work withpeople like us?
(24:07):
Not to pat ourselves on theshoulder, but we perform a
particular service.
Why can't somebody just, well,I'm going to go to Dubai and I'm
going to shop for villas andmansions, et cetera.
What is the benefit of the typeof wealth advisory and asset
(24:28):
advisory and acquisition andstructuring that we offer to
someone who is coming into Dubaiwho presumably doesn't have any
other ties to it until thatmoment?
SPEAKER_00 (24:44):
I think the most important element to family
offices or ultra high net worthindividuals is privacy.
And when you talk aboutbillionaires' migrations, there
is a report from United Bank ofSwitzerland about billionaire
(25:05):
migrations globally.
UAE last year welcomed over6,700 millionaires.
And this year, we are welcomingover 9,800 millionaires.
And some of the key figuresglobally, they started moving to
Dubai.
I'll give you a few names, thewell-known names.
(25:25):
In the world, you have JohnFredrickson, a Norwegian
shipping oil magnate with anestimated net worth of about 17
billion.
He recently relocated to Dubaifrom London.
He moved his business.
He sold his estate in the UK for380 million pounds and moved
(25:49):
everything, moved his family,his business, everything moved
to Dubai.
And all that wealth came about.
You have Michael Pat, Britain'srichest hedge fund manager, Blue
Crest Capital, with around 18.8billion in net worth.
He moved to Dubai.
You have Sharvin Bharti Mittal.
(26:12):
He runs the Bharti businessempire and his personal net
worth of about 13.8 billion, andhis family net worth is about
27.2 billion.
They moved to Dubai.
So those type of names, whenthey want to make that move,
they like discretion.
They don't buy things that areavailable in the market.
(26:35):
They like things that aremarket.
They have a certain lifestyle.
They have certain structure thatthey prefer, and they don't want
the rest of the world to knowabout it.
Not simply go online or theywouldn't go online themselves,
but their assistants or theirmanagers go online and shop for
(26:57):
assets for them.
Everything comes throughreferrals, through a trusted
network.
And this is where we come in.
This is where we come in.
We offer totally off markets,super luxury assets.
(27:17):
We know how to structure thoseassets.
Obviously, no billionaire holdsany asset under their name
directly.
So they have structure.
You have a foundation, you havea trust, you have a holding
company.
And when they are moving toDubai, which is a new
jurisdiction for them, differentlaws, different ecosystem, they
(27:37):
would still want to protecttheir names, their legacy, and
they would not want to work witha regular broker.
They want someone to understandtheir needs and exactly what
they want.
SPEAKER_02 (27:53):
They don't have time.
Yeah, and also I think they wantto work with people who have
proven, not only just provenbusiness and success, but also
proven discretion in which wetalk about it.
These are not...
These types of people are notthe ones where, you know, I wag
my hands on Instagram and thenall of a sudden they're buying
(28:14):
this particular.
But I think what most peopledon't understand, especially in
the Middle East, especiallythese types of people all over
the world, is that the valuethat they place in something
that's exclusive and nobody elseknows about is paramount to
them.
That the more people see or haveaccess to certain properties,
(28:36):
the less likely they'll beintrigued or more interested in
them.
And that we also get them notjust in talking about real
estate, but talking about salesof yachts, of fine art, of all
of this, being in front of themwherever they are in the world.
And this is where theseconversations happen, where
(29:00):
somebody will tell us, I amselling my estate for$300
million if you have somebody.
And it's not like we would gotake pictures of them, do a
video and put it on theinternet.
It's not that kind of service.
It's a very exclusive eliteservice.
And you can only do that whenyou have the proven reputation
(29:21):
for doing so.
And you have the proven globaloutreach, you know, not some
affiliate or franchise ornetwork of networks, et cetera,
where you're referring it tosomebody you don't know.
These direct, I think,relationships, like between us,
you know, in Dubai, you know,Global World Dubai, Global
Maritima, Global World St.
Moritz, this is where thesepeople are.
(29:45):
And it's important to know thesensibilities, to know their
predisposition, to know theirlevel of discretion that they
command.
And also, Time is always theirs.
You know, it's not like youcan't hurry them up in making a
(30:07):
decision.
And when they decide they wantit now, you know, so it's a
very, you know, so their idea ofdecision-making and the process
of decision-making is not anormal person's idea.
But also we talked about,because I asked you why there's
like a development like Damak,do a you know like a this is
(30:32):
venice type this is milan typethis is rome this is paris etc
right when and the question iasked you was like when people
can just go to venice if theywanted to go see venice or milan
or and you told me somethingvery interesting which is that
we forget that not everybody inthe world can go to places like
(30:52):
that it's not as easy for themAnd so coming to something close
like that in the Middle East, inDubai, in the region where they
are, or closer to where theyare, is just as good.
So living in a Venetian typevilla versus living in Venice,
(31:15):
they're two different things.
Right?
Yeah.
And, and, and, you know, it's,it's almost like, you know, all
of these different cultures fromaround the world finding, um,
because I think in thebeginning, I think prior to
Dubai, you know, doing thisdevelopment, um, you know, you
know, the, and Qatar doingdevelopments and Saudi doing
(31:35):
developments, the, the, the mostof the world probably thought
about living in the Middle Eastas a function of, um, either
living in the, in, in the regionfor, petroleum or
petroleum-based industries ordevelopment as an overseas
worker.
Or the other one is the peoplewho want to be near Jeddah or in
(32:01):
Saudi Arabia to do somepilgrimages, right?
The other parts like tourism andliving there as a part of a
lifestyle, is a game changer forthe Middle East.
Now, everybody's competing to bethe next Monaco of the Middle
East.
Now, what's going on with Saudi?
Just briefly, it's a much, much,much larger market that's going
(32:29):
to explode.
And they also have...
What should we...
What should we be looking at asSaudi continues its growth and
development as well?
SPEAKER_00 (32:46):
Saudi, interestingly, has been reformed
recently since the Crown Princeof Saudi Arabia, His Highness
Sheikh Mohammed bin Salman, cameto run the country.
And he had one vision.
We have to transform.
We have to catch up.
And what he has introduced,first thing he introduced, he
(33:11):
allowed women to drive.
Women were not allowed to drivebefore that.
So he has launched a culturalrevolution change.
He is trying to reform themindset first by accepting
certain things are the fullrights of human beings, And then
(33:34):
they moved into investment.
Saudi Arabia today is one of thelargest country that is super,
super developing mega projectsin the region or in the world as
well.
And they have launched anentertainment events so they can
welcome people from the globe tocome and visit Saudi, explore
(33:58):
Saudi, right?
And they were also veryconsistent and careful about in
opening up everything.
Because Saudi Arabia is the homefor the most holy place for
Muslims, which is Mecca and theKaaba.
And that religious connection isnot as easy as it looks like to
(34:25):
open up to the globe and docertain things differently.
Recently, just two weeks ago,the real estate regulations in
Saudi Arabia has changed, wherethey allow non-Saudis or foreign
nationals to own piece of realestate across certain zones.
(34:49):
And that it could be the capitalof Riyadh or Jeddah.
Mecca is a holy place, so it'sonly for Saudi for now.
I don't think that will changeat all.
But the rest of Saudi Arabia isreforming.
Branded residents, they are bigin Saudi Arabia.
So we have the Trump Tower beingbuilt in Jeddah.
(35:12):
The Four Seasons and otherglobal brands are positioning
themselves in Saudi Arabia.
They are doing their best tobecome a global hub as well.
But The road is still a bitlong, but that's also an
opportunity because this is anemerging market.
(35:34):
So for investments as well,Saudi Arabia would be one of the
most attractive destinations toinvest in if you're looking to
invest in the Middle East after,obviously, the United Arab
Emirates and Dubai.
SPEAKER_02 (35:48):
I think that's the GCC region, I think, What is the
most impressive to me is thelonger you get to know them, the
longer you get to know twothings about them.
One is that there is a genuinedesire to be positive about the
(36:13):
future and to create a legacyfor the future.
because of the history, becauseof where they've come from,
there is a commitment and adedication to ensure that from
generations, future generations,have something to inherit, a
rich history and culture andcountry to inherit.
(36:37):
I think that's one thing.
The second thing is that trustis something that you earn,
right?
You know, it's not a given.
But once you've earned thetrust, the positive things, you
know, can come out of that, youknow, that relationship.
Now, to cap everything off, Ijust wanted, you know, because
(37:01):
when you come here in New York,we're going to do like a
personal, you know, podcast backin the CEO, in the office, but
now in person.
Now, but where, tell us, To wrapit up, where does global wealth
Dubai powered by Castilianestates?
What should we look forward to?
(37:21):
What is the next step for us?
We wanted to do a roadshow andit's a lot of it is education.
But how do people get to us?
How do people get to you ifthey're in Dubai, etc.?
UNKNOWN (00:00):
?
SPEAKER_00 (37:39):
Great.
Global Wealth Dubai, I thinkit's positioned perfectly where
the global capital is moving tothe UAE.
And when such plans happen, theyneed people on the ground to
execute before the arrival ofthose elite.
(38:02):
And global wealth is positionedtoday globally, not only in the
US or or in the UAE to servicespecific people with a specific
need.
I think the global network ofGlobal Wealth Office itself,
it's a gateway to help thattransition happen seamlessly.
(38:26):
Global Wealth Office Dubai todayhas access to ultra, ultra
luxury real estate that are notin the market, are not even
being marketed by the developer.
We have few assets that arealready built.
We have few assets that arecurrently under construction and
(38:49):
it's not in the internet.
You can't find it in theinternet.
You need an invitation.
It's literally by invitation,although you have to submit the
buyer's profile and that profilehas to be approved, then you are
welcome to see what thesedevelopment has to
SPEAKER_01 (39:06):
offer.
SPEAKER_00 (39:08):
And we provide that service seamlessly because we
hold great relationship withthose top developers that are
completely silent and off marketand they don't market to anyone.
And most of our clients today,they come through referrals,
they come through law firms,they come through wealth
(39:28):
managers.
We play in the same domain, wejust provide a different service
to those clientele.
And we are also planning aroadshow in New York in
September, where we are going toeducate a lot of people about
how they can access Dubaidirectly from New York, from
(39:50):
Global Office New York City.
without the need to travel toDubai.
We could provide that seamlesstransaction and you don't need a
lawyer in Dubai to buy aproperty.
Everything is supervised andgoverned by the government of
Dubai and the Dubai LandDepartment.
(40:12):
that you don't need an attorneyto pay them thousands and
thousands of dollars to draftthe contract or to manage your
escrow or transfer your funds.
Everything is done through thelegal challenge, through the
legal channels, which is thesupervisory of the transaction
is the Dubai government itself.
You don't need a guarantee thanthat.
(40:35):
And that's why global wealth isable to, to service those people
seamlessly without even tostress out how I'm going to
transfer my money, how I'm goingto open a bank account down
there, how I'm going to buy thatproperty, or how I'm going to
move my assets down there.
We provide that service from Ato Z from where they live
(40:56):
currently.
SPEAKER_02 (40:57):
Right.
SPEAKER_00 (40:58):
And
SPEAKER_02 (40:59):
it's also important, I think, for them to know that
we...
we have multiple professionalswho speak multiple different
languages.
whether it's, you know, Mandarinor, you know, Russian or, you
know, or Arabic, you know, orHebrew or whatever, you know, or
Spanish or whatever.
(41:20):
We have people.
So if it's more comfortable forthem to speak to somebody in
their native language, we couldprovide that.
And that the Global WealthOffice, our goal, and you and I
talked about it, is that you cancall us at any point in the day,
wherever you are, andsomebody...
will be able to help you, right?
(41:40):
The idea is that we are oneworld, we are one market, and
our focus is not on everybodybecause it's impossible to
provide services to everybody.
But specifically for the peoplewho desire a level of service
that's very discrete in thehighest quality of products and
(42:05):
in the most efficient wayprocess as possible.
We are not just, you know, we'renot salespeople.
We're trustworthy advisors.
And our relationships go notjust...
years, but decades andgenerations of people who have
(42:25):
used, you know, provided thatservice.
And on that note, thank you somuch, Moonji, you know, for
spending this time with me.
And on behalf of Colin Migleyand Kenneth Moore and Perry Law,
this is Loy Carlos wishing youpeace and good wealth.
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