In this episode of Situation Today with Gulf Business, GB editor Neesha Salian sits down with Samer Ambar, co-founder and CEO of Reef Luxury Developments, to discuss how a young real estate company is carving out space in Dubai’s competitive market through patented innovation and calculated risk-taking.
With a background spanning 11 years at Citigroup in risk and operations, followed by experience in brokerage, Ambar explains how his financial grounding shaped Reef’s strategy.
Rather than launching another conventional development firm, he and his co-founder set out to solve a specific problem in the UAE market: underutilised outdoor space.
In a climate where balconies and gardens often go unused for much of the year, Reef invested heavily in R&D to create and patent an outdoor cooling solution that transforms open areas into what Ambar describes as a “virtual room”, comfortable even during peak summer heat.
The conversation explores Reef’s additional innovations, including its Sunken Balconies and Winter Garden concepts, and how the company aims to blend experiential luxury with tangible economic value. Ambar argues that true luxury lies not just in materials, but in usable, year-round living space that enhances both lifestyle and return on investment.
He details how Reef’s land acquisition strategy focuses on undervalued but high-potential areas, positioning buyers for faster appreciation and stronger yields.
Looking at the broader market, Ambar remains optimistic about Dubai’s real estate trajectory, citing population growth, regulatory maturity, and national initiatives such as the D33 economic agenda as key drivers of sustained demand. He also reflects on entrepreneurship in the UAE, encouraging aspiring founders to think boldly, invest in knowledge, and leverage the country’s pro-business ecosystem.