In business and in life, the real test comes when things get complicated. When the market is up and the sun is shining, anyone can play the hero. But true character, intelligence, and instinct only reveal themselves when the storm arrives. Recent events in Dubai have shown me an enormous amount. I witnessed outstanding crisis management on the part of a state — and a complete failure of character from people I would have least expected it from.
When your heart beats in Dubai from Europe
At the end of February, my partner, our two younger sons, and I returned from Dubai to Europe. Our eldest son stayed behind in Dubai to study. The plan was simple: we fly out, the backup guardian arrives. But reality doesn't respect our plans.
The caretaker couldn't fly out due to the situation in the region, and our underage son was left there alone for a few days.
It was incredibly difficult to exist in the safety of Europe knowing he was there alone without support. While the media started churning out reports about the conflict and many people were fleeing Dubai in panic, I did the exact opposite. I went back to Dubai to be with him and to bring him back to the rest of the family. As a father, I simply cannot imagine doing anything else.
UAE: A lesson in how it's done RIGHT
The United Arab Emirates are under enormous pressure right now. They are not only facing hostile shelling from Iran, but also a cynical American foreign policy which, under its current leadership, I consider reckless and purely profit-driven.
Despite all of this, the UAE government is — in my opinion — communicating and acting brilliantly. Their effort to ensure that residents feel no uncertainty is immense. My son was completely calm. He could sense that the system was working and that life, at least on the surface, was carrying on. What will the outcome be? In my view, the UAE will emerge from all of this even stronger and more attractive. They have demonstrated a kind of stability that no amount of money can buy — the kind that must be earned through character and courage.
Influencers and real estate theatre: How it's done WRONG
On the other side stands the information asymmetry on social media. It's disgusting to watch various personalities and influencers literally talking out of their backsides just to cover themselves. Envious people and haters spread nonsense and feed off fear. Social media in our part of the world is full of lies and hatred that bears no relation to reality.
A chapter of its own is the real estate agents. Many of them are doing it spectacularly badly. When the market was at its peak, everyone was a master of the universe. Now, when things get tough, they perform a sad little show in front of their clients and lie. Let's be honest about it: prices are going to go down. That's a fact, and clients are not stupid. Instead of communicating a sensible "what next" strategy, these so-called experts pretend nothing is happening. They know they have crowds of angry clients coming their way, and instead of having the courage and the sense to acknowledge reality, they just keep feeding their clients nonsense. I won't be linking to examples of bad practice here.
Fortunately, there are exceptions too. People and companies who understand that business is built on trust, not short-term deception.
Dubai is not a project. It is home.
I believe we are in Europe only for a short while. We are watching developments closely, our flights are booked, and we can already hardly wait to be back. The school year in Dubai resumes soon, and it's wonderful to see my son anxious about when he'll be able to return.
For me, this is the most powerful proof of all. It shows that Dubai has long since ceased to be something "invented" or just a temporary address for expats. It is a real, functioning place that the people who live there genuinely love.
At BizPartner Group, we don't play games. We believe that the most important commodity is truth. Doing things right is not just a phrase for us — it is the fundamental principle on which we build our relationships with clients and investors, as well as the foundation for our own families. I am personally convinced that it is the only approach worth passing on to the next generation.
Martin Fodor CEO
BizPartner Group