{"id":694,"date":"2017-11-22T16:17:46","date_gmt":"2017-11-22T16:17:46","guid":{"rendered":"https:\/\/www.mortgagefinder.ae\/blog\/?p=694"},"modified":"2025-05-28T13:56:20","modified_gmt":"2025-05-28T13:56:20","slug":"interview-with-palma-holding-ceo-founder-kareem-derbas","status":"publish","type":"post","link":"https:\/\/www.mortgagefinder.ae\/blog\/interview-with-palma-holding-ceo-founder-kareem-derbas\/","title":{"rendered":"Interview with Palma Holding CEO &#038; founder Kareem Derbas"},"content":{"rendered":"<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-699 size-large\" src=\"https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/DSC_6242-550x800.jpg\" alt=\"\" width=\"550\" height=\"800\" \/><\/p>\n<h2>From a first investment in Dubai Marina back in 2002, to building a fully integrated real estate company, <a href=\"https:\/\/www.propertyfinder.ae\/en\/broker\/palma-real-estate-505?page=1&amp;agentPage=1\" target=\"_blank\" rel=\"noopener\">PALMA HOLDING\u00a0<\/a>and its CEO and founder Kareem Derbas, are known for iconic projects.<\/h2>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Those who have lived in the UAE for a decent amount of time will remember when Dubai Marina was still under construction \u2013 a glamorous new community waiting\u00a0to spring to life. In many ways, the marina marked\u00a0the beginning of the emirate\u2019s emergence into the\u00a0global consciousness as a hot new destination to watch. It was a definitive period for many people.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>It was around this time that one of the first private UAE developers to enter the freehold market, Palma Holding, chose Dubai Marina to begin building its brand. The first investment foray was a small waterfront residential plot; aiming to differentiate the firm decided to build some\u00a0of the largest apartments in the marina, with only three apartments per floor. It was an instant success, as the Founder &amp; CEO Kareem Derbas recalls with justifiable pride.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cWe were ninety percent sold out in the first month,\u201d he said. \u201cThis Dh120 million residential project \u2013 which we named La Residenica Del Mar \u2013 was the beginning of our journey to developing more than Dh5 billion worth of unique residential real estate in Dubai\u2019s prime districts.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>&nbsp;<\/p>\n<p>Derbas had an interesting route to founding Palma. After graduating from the American University of Beirut, he spent his first year working as an auditor at Arthur Andersen in Abu Dhabi, followed by two years as a management consultant with Ernst &amp; Young in London.<\/p>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>&nbsp;<\/p>\n<p>It was a foundation that served him well he said: \u201cThose three initial years working with such high calibre multinationals was a great foundation for my entrepreneurial career.\u201d\u00a0When he did find his way to Dubai in 2002\u00a0\u2013 along with many others with an ambition to create a new enterprise \u2013 he knew passion\u00a0and tenacity were going to make the difference.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-717 size-full\" src=\"https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/image.png\" alt=\"\" width=\"640\" height=\"433\" srcset=\"https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/image.png 640w, https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/image-400x271.png 400w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.propertyfinder.ae\/en\/broker\/palma-real-estate-505?page=1&amp;agentPage=1\" target=\"_blank\" rel=\"noopener\">The Jewels Tower Dubai Marina<\/a><\/p>\n<p>&nbsp;<\/p>\n<blockquote>\n<h2><em><strong>Be passionate, be diligent, be inspired if you live by these principles, you will have no limitations.<\/strong><\/em><\/h2>\n<\/blockquote>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cIf I had to sum up my personal philosophy it would be: pursue excellence, be committed, and have fun,\u201d he said. \u201cI truly believe that every human being should strive for excellence in whatever they are doing. Be passionate, be diligent, be inspired \u2013 if you live by these principles, you will have no limitations.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cOne of my favourite quotes is that of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai \u2013 \u2018in the race to excellence, there is no finish line\u2019\u00a0\u2013 this is one of the quotes I remind myself of every day.\u201d\u00a0Derbas added: \u201cTo build a successful\u00a0company over the long term, I believe in remaining committed to your customers, your employees and your partners. Staying true to your commitments will ultimately garner loyalty and brand value beyond expectation.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cAnd you must have fun. We spend seventy percent of our lives at work. You better be having fun with your career choice.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>Staying upbeat probably helped Palma Holding keep going during the tough economic years of 2008 to 2012. Indeed, during that challenging time they managed to deliver all their real estate projects in excess of Dh3.6 billion, including two of their most iconic projects, Silverene Twin Towers, and the Infinity-Cayan Tower, both in Dubai Marina.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-719 size-full\" src=\"https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/image-2.png\" alt=\"\" width=\"668\" height=\"452\" srcset=\"https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/image-2.png 668w, https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/image-2-400x271.png 400w\" sizes=\"(max-width: 668px) 100vw, 668px\" \/><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.propertyfinder.ae\/en\/broker\/palma-real-estate-505?page=1&amp;agentPage=1\" target=\"_blank\" rel=\"noopener\">Cayan Tower Dubai Marina<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>Derbas believes maintaining your focus and holding on to your vision is the secret of success in Dubai, and in business in general.<\/p>\n<p>&nbsp;<\/p>\n<blockquote>\n<h2><em><strong>\u201cThis is one of the most exciting and fast-paced real estate markets in the world,\u201d he said. \u201cWith that comes huge benefits, together with complexity and competitiveness, so one of the most important elements of being a private developer is defining yourself with the utmost clarity and conviction.<\/strong><\/em><\/h2>\n<\/blockquote>\n<\/div>\n<p>&nbsp;<\/p>\n<div class=\"column\">\n<p>&nbsp;<\/p>\n<p>\u201cYou need to have a crystal-clear vision, you need to define your target market, you need to focus on one sector, and then aim to be a world-class player in that niche. Palma has been able to find a niche in high-quality, prime residential developments that offer its residents an exceptional lifestyle coupled with long-term investment value.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>He says one of the key highlights is that the company has maintained its record of delivering all of its projects.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cYes, we have only developed nine projects, but we have delivered and all of the projects stand out as unique developments in their own way. I would rather be known for being a boutique developer with a perfect reputation for delivery, than being known as a big developer with a poor track record.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>He is positive about Dubai\u2019s ongoing potential and has no doubt about the city\u2019s readiness for Expo 2020.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-720 size-full\" src=\"https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/image-3.png\" alt=\"\" width=\"695\" height=\"420\" srcset=\"https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/image-3.png 695w, https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/image-3-400x242.png 400w\" sizes=\"(max-width: 695px) 100vw, 695px\" \/><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.propertyfinder.ae\/en\/broker\/palma-real-estate-505?page=1&amp;agentPage=1\" target=\"_blank\" rel=\"noopener\">Silverene Dubai Marina<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>\u201cDubai is always two steps ahead of\u00a0the game,\u201d he said. \u201cThe emirate has continuously demonstrated that it delivers on its commitments and most of the time over exceeds our expectations. I have no doubt that it will be ready for the expo and will demonstrate a new definition of world class event hosting.\u201d Optimistic, but still a realist, Derbas says the real estate market he works in hasn\u2019t yet found a perfect footing.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<blockquote>\n<h2><em><strong>\u201cAs the market continues to mature, I would like to see it being regulated from\u00a0a supply side. Although there are merits to both sides, open markets, and regulated markets, I would be a proponent of seeing some light regulations on the supply side to ensure the supply and demand metrics remain in a state of harmonious balance.\u201d<\/strong><\/em><\/h2>\n<\/blockquote>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>When it comes to finding his own harmonious balance outside of the working sphere there is really only one activity that counts \u2013 fishing.<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<div class=\"column\">\n<p>&nbsp;<\/p>\n<p>\u201cI fish almost every weekend, together with my lovely children that have been indoctrinated with the sport,\u201d he said. \u201cI travel to remote places around the world to explore new fishing destinations and learn new techniques. I have also twice qualified with my team for the Fishing Offshore World Championships.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cThis year I participated together with my son, brother and two of my best friends in the 2017 World Championship in Costa Rica, where we were placed fifteenth in the world, and more importantly had a ton of fun.\u201d\u00a0As someone so obsessed with sea life, his favourite escape destination comes as no surprise. \u201cHands down, it is the beautiful Maldives, which I have been visiting almost every year since 2005. It\u2019s a place that allows the whole family to reconnect with nature in a breathtaking setting \u2013 no cars, no pollution and for most of the holiday, no electronics.\u201d<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<div class=\"column\">\n<p>&nbsp;<\/p>\n<p>It seems water is never far from the Palma CEO, whether it\u2019s business or leisure. In 2018, the company will deliver the exclusive beachfront Serenia Residences on the Palm Jumeirah.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<blockquote>\n<h2><strong>\u201cWe have spent an immense amount of time tirelessly going into every detail of this unique beachfront project to ensure it eclipses all our previous projects and lives up to our reputation for delivering world class residential developments,\u201d Derbas explained.<\/strong><\/h2>\n<\/blockquote>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-772 size-large\" src=\"https:\/\/www.mortgagefinder.ae\/blog\/wp-content\/uploads\/2017\/11\/Screen-Shot-2017-11-23-at-6.27.28-PM-800x481.png\" alt=\"\" width=\"800\" height=\"481\" \/><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.propertyfinder.ae\/en\/search?l=1211&amp;q=&amp;c=1&amp;t=20&amp;pf=&amp;pt=&amp;bf=&amp;bt=&amp;af=&amp;at=&amp;kw=\" target=\"_blank\" rel=\"noopener\">Serenia &#8211; Palm Jumeriah<\/a><\/p>\n<div class=\"column\">\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Next year promises to be a landmark one for the company as they will endeavour to bring to the market yet another\u00a0new residential project \u2013 soon to be announced \u2013 that Derbas says promises to be one of Dubai\u2019s most vibrant suburban communities and aimed at active lifestyles and contemporary living.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p>_______________________________________________________________________________________________<\/p>\n<p>&nbsp;<\/p>\n<p>This article appeared in<a href=\"http:\/\/www.prestige-magazine.ae\/wp-content\/uploads\/issues\/31\/index.html\" target=\"_blank\" rel=\"noopener\">\u00a0Prestige Magazine November\/ December 2017 issue<\/a>.<\/p>\n<p>_______________________________________________________________________________________________<\/p>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<h3><\/h3>\n<h3><\/h3>\n<h3>TALK TO US<\/h3>\n<p><a href=\"https:\/\/www.mortgagefinder.ae\/?gclid=EAIaIQobChMIo_Dw7tPs1QIVybobCh0SPAuZEAAYASAAEgJr_fD_BwE\" target=\"_blank\" rel=\"noopener\">mortgagefinder.ae<\/a> is part of the <a href=\"https:\/\/www.propertyfinder.com\/\" target=\"_blank\" rel=\"noopener\">Propertyfinder Group of companies<\/a> and is the single most successful mortgage consultancy and introducer in the UAE. Our advisors are professionally trained and accredited, each with several years of local mortgage experience. Each year, we help hundreds of families buy their dream home in the UAE. Most of them referred to us by other satisfied clients. We are here to help!<\/p>\n<p><a href=\"https:\/\/www.mortgagefinder.ae\/en\/calculator\" target=\"_blank\" rel=\"noopener\">Get pre-approved now &gt;\u00a0<\/a><\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"page\" title=\"Page 1\">\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"grammarly-disable-indicator\"><\/div>\n<div class=\"grammarly-disable-indicator\"><\/div>\n<div class=\"grammarly-disable-indicator\"><\/div>\n<div class=\"grammarly-disable-indicator\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; From a first investment in Dubai Marina back in 2002, to building a fully integrated real estate company, PALMA HOLDING\u00a0and its CEO and founder Kareem Derbas, are known for iconic projects. &nbsp; &nbsp; Those who have lived in the UAE for a decent amount of time will remember when Dubai Marina was still under [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Interview with Palma Holding CEO &amp; founder Kareem Derbas<\/title>\n<meta name=\"description\" content=\"From a first investment in Dubai Marina back in 2002, to building a fully integrated real estate company, PALMA HOLDING are known for iconic projects.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mortgagefinder.ae\/blog\/interview-with-palma-holding-ceo-founder-kareem-derbas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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