Mahwussh Alam

founder of One Perfect Group

Compiled from 1 recorded interview. Every statement below is drawn from the passage cited beside it.

Mahwussh Alam is the founder of One Perfect Group. Born in Karachi, Alam studied computer science at FAST and worked at Millennium Software and IBM. She moved to Abu Dhabi in 2008, and she formed a company in 2016 after starting the work in late 2014.

Early life and background

Alam was born in Karachi as the youngest of three sisters. Her father came from Peshawar and left for Glasgow, Scotland, at age 18. [1]

The family moved to Islamabad because her father chose a city closer to Peshawar. She lived in Islamabad for four years before the family returned to Karachi. The family moved back when she was about ten or eleven. [1]

Her father died when she was nine. She was brought up by a single mother. She says her whole life was about pleasing her mother. [1]

Education

Alam attended DHA School Phase 4 and a Beaconhouse school that was close to her home. After class 10 she went to DHA College for Women. She took FSc and studied under the Sindh board. As a student she describes herself as extremely competitive. [1]

She was admitted to FAST and studied computer science. Before FAST she knew only the basics, such as Hello World in Pascal and C++. She felt constantly judged at FAST and says she was completely lost in the course at first. She completed three years of study at FAST instead of the four-year option. [1]

Career

While still a student, Alam worked as a tuition teacher. Her first job after graduating was a marketing role at a software house, Millennium Software. There she sold ERP software to banks, and she worked at the company for about a year. [1]

Her next role was an offshore arrangement for a Canadian-based company, which she held for almost two years. She says she would have her own team. She then joined IBM, where she worked in sales as a territory sales representative for three years or more. She also says she aced an interview. [1]

Move to Abu Dhabi

Alam resigned immediately when her husband got a job at a bank in Abu Dhabi. She moved to Abu Dhabi in 2008, as the Lehman Brothers collapse happened. [1]

She decided she would not go back to a corporate nine-to-five job. She felt her energy could not be contained by an MNC or a corporate job. She had interviews with Microsoft. She says she was really angry and set out to prove people wrong. [1]

Founding the company

Her husband was venturing into real estate and doing deals, and they were looking for an interior designer. The business began with a single unit. Alam uploaded a listing on Airbnb, and says they were doing everything themselves. In the early days she handled check-ins, check-outs and bookings herself. [1]

She says she is bad at negotiation and told the other party she would take whatever they offered. She was given a series of properties, reaching 12 and probably 15. She concluded the model was very bespoke and, although it might be profitable, could not scale. A person told her she was working like the investor's personal assistant. [1]

She formed the company in 2016, after starting the work in late 2014. The company hired its first accountant, a finance person and a guest relations officer. [1]

Real estate

Alam stayed away from real estate because she did not want to be associated with it. She says she missed out on a lot and left a lot of money on the table. She says property sells on good aesthetics, and she chose to work with selective clients who had premium addresses. She says this is the time to be in real estate and that one will not excel in it without owning property. [1]

She says her team handles off-plan deals and secondary deals, which are ready-to-move-in units passing from one landlord to another. She says the company has sold property to Americans, Chinese, Pakistanis and Indians. She says she sells only projects she believes in, and she could sell them to anyone. [1]

Views on Dubai and the Gulf property market

Alam says she is very bullish on Sharjah and Abu Dhabi. She says the Crown Prince of Sharjah initiated a new development there. She says Sharjah is building a corporate hub comparable to DIFC. She says there is no tax in Dubai. [1]

She does not foresee a Dubai property bubble, only possibly a correction. She says secondary Dubai property is already inflated and advises buying off-plan. She calls large developers such as Emaar and Aldar big, well-backed companies. She says Saadiyat homes start at about 8 million dirhams. [1]

Views on hospitality and funding

Alam says the alternate hospitality model needs a reboot. She says Sonder and Vacasa are struggling with the scale they have reached. She says they change the strategy and take more long-term guests. [1]

She says a healthy cash flow and positive P&L matter more than chasing investment. She says VCs usually want three to five times their initial return. She says she chose not to take funding, which she believes could have limited growth. [1]

She says a company based in Europe is on board in a strategic alliance that is not based on funding. She says that when she had a co-founder and a seed fund on board, the plan was to keep scaling to different geographies. She says she has been through two or three M&A rounds that fizzled out. She says ownership belongs to the landlord at the end of the day. [1]

Views on Pakistan

Alam says Pakistan's value will change completely within ten years. She says people in Pakistan should be accountable to themselves first. [1]

Personal life

Alam married young and finished her graduation after the wedding. Her son was born on 29 April. [1]

Timeline

2008
Moved to Abu Dhabi[1]
2014
Started the work that led to her company[1]
2016
Formed the company[1]

Appearances

DateTitleWhere
2023-10-06 The anger that built a Dubai hospitality business Thought Behind Things

Frequently asked questions

Who is Mahwussh Alam?

Mahwussh Alam is the founder of One Perfect Group. She was born in Karachi and studied computer science at FAST. She worked at Millennium Software and IBM before moving to Abu Dhabi in 2008.[1]

What company did Mahwussh Alam found?

Mahwussh Alam is the founder of One Perfect Group. She says she formed a company in 2016, after starting the work in late 2014.[1]

Where did Mahwussh Alam study?

Mahwussh Alam attended DHA School Phase 4 and DHA College for Women. She was admitted to FAST, where she studied computer science. She completed three years of study there instead of the four-year option.[1]

Where is Mahwussh Alam from?

Mahwussh Alam was born in Karachi as the youngest of three sisters. Her father came from Peshawar. She lived in Islamabad for four years before her family returned to Karachi.[1]

Where did Mahwussh Alam work before starting her company?

Mahwussh Alam's first job after graduating was a marketing role at Millennium Software, where she sold ERP software to banks. She later joined IBM, where she worked in sales as a territory sales representative.[1]

When did Mahwussh Alam move to Abu Dhabi?

Mahwussh Alam moved to Abu Dhabi in 2008, as the Lehman Brothers collapse happened. She resigned immediately when her husband got a job at a bank there.[1]

What does Mahwussh Alam think about the Dubai property market?

Mahwussh Alam does not foresee a Dubai property bubble, only possibly a correction. She says secondary Dubai property is already inflated and advises buying off-plan. She also says there is no tax in Dubai.[1]

References

  1. The anger that built a Dubai hospitality business . Thought Behind Things , 2023-10-06.
Show the source passages (79 statements)
  1. She was born in Karachi as the youngest of three sisters. I'm the youngest of the three sisters and I was born in Karachi
  2. Her father came from Peshawar. my father was, um, uh, he's he's he was a Pathan, uh, from Peshawar.
  3. Her father left for Glasgow, Scotland, at age 18. he left for, uh, Glasgow, Scotland when he was only 18.
  4. The family moved to Islamabad because her father chose a city closer to Peshawar. So he chose Islamabad because, you know, it's closer to Peshawar and and things like that.
  5. She lived in Islamabad for four years before the family returned to Karachi. Uh, chota sa woh stint tha Islamabad ka for four years and then came back to Karachi.
  6. The family moved back to Karachi when she was about ten or eleven. Uh, no, no. Uh, about 10, 10, 11 when we moved back.
  7. Her father died when she was nine. my father, uh, passed away only when I was nine.
  8. She was brought up by a single mother. I was brought up by a single mother
  9. She says her whole life was about pleasing her mother. my whole life was about pleasing the hero of my life who was my mother, right?
  10. She attended DHA School Phase 4. Padhai wahan pe start ki, uh, DHA, DHA School Phase 4 is where I was, uh, going to school.
  11. She attended a Beaconhouse school that was close to her home. Beaconhouse. Right. So I think hamare ghar ke, uh, peeche hi school hota tha.
  12. She went to DHA College for Women after class 10. class 10th ke baad college was DHA College for Women.
  13. She took FSc. Uh, FSc. FSc it was, yeah. But now that I look in, you know, retrospect, main kar sakti thi.
  14. She studied under the Sindh board. Sindh board mein kiya tha aur.
  15. As a student she describes herself as extremely competitive. I was an extremely competitive human being.
  16. She was admitted to FAST. And I got into FAST. Pehli baat toh yeh mujhe yakeen hi nahi aaya ke mera FAST mein ho gaya hai, right?
  17. She studied computer science. I did computer science.
  18. Before FAST she knew only the basics, such as Hello World in Pascal and C++. Hello world, Pascal mein, C++. Bas mujhe itna hi pata tha.
  19. She felt constantly judged at FAST. I'm I'm constantly being judged or probably that's what I felt.
  20. She says she was completely lost in the FAST course at first. Aur fast mein aake I was completely lost for the for the course line that there was
  21. She completed three years of study at FAST instead of the four-year option. I had the option of four years but I I just did three years.
  22. She married young and finished her graduation after the wedding. I got married quite early on. Even like actual graduation happened after I was married.
  23. She worked as a tuition teacher while still a student. So I was always I was always working, you know, giving tuitions and mainly giving tuitions.
  24. Her first job after graduating was a marketing role at a software house. there was a first software house I got a job in and it was a marketing job.
  25. That software house was Millennium Software. Millennium Millennium software.
  26. At Millennium Software she sold ERP software to banks. So we were selling ERPs to, you know, different banks.
  27. She worked at Millennium Software for about a year. About a year, I think. A year.
  28. Her next role was an offshore arrangement for a Canadian-based company, which she held for almost two years. So this was an offshore sort of a arrangement for a Canadian based company and I was there for almost two years.
  29. She says she would have her own team. so I would have my own team.
  30. She says she aced an interview. And I went and I aced that interview. I killed it.
  31. She then joined IBM. Of course, it was IBM.
  32. At IBM she worked in sales as a territory sales representative. Again sales, uh TSR hota tha tab territory sales representative.
  33. She worked at IBM for three years or more. Uh three years or more.
  34. She resigned immediately when her husband got a job at a bank in Abu Dhabi. he got a job in First Gulf Bank in Abu Dhabi. So he was, you know, directly getting exported to Abu Dhabi. And, you know, that was like my ticket to Hollywood. Maine foran design likha and I said, okay, see you, goodbye.
  35. She moved to Abu Dhabi in 2008, as the Lehman Brothers collapse happened. We came to Abu Dhabi and that is when, you know, the whole Lehman Brothers collapse happened. 2008.
  36. Her son was born on 29 April. 29th April my son was born and Mozi got the job in the first week of April.
  37. She decided she would not go back to a corporate nine-to-five job. I was coming to a realization that, you know, whatever I do, I'll not go back to the corporate. I will not do a nine to five.
  38. She felt her energy could not be contained by an MNC or a corporate job. I knew that it could not be contained by an MNC or a corporate or whatsoever.
  39. She had interviews with Microsoft. literally yahan I had interviews with Microsoft and, you know, recruiters chasing and things like that.
  40. She says she was really angry and set out to prove people wrong. So I was really angry and I was like, I'm gonna show you all.
  41. Her husband was venturing into real estate and doing deals, and they were looking for an interior designer. This is my husband, uh, you know, venturing into real estate, you know, doing some deals here and there and they were looking for an interior designer.
  42. The business began with a single unit. It all started with one unit.
  43. She uploaded a listing on Airbnb, and says they were doing everything themselves. So, I uploaded the the listing on Airbnb. And by the way, sab hum khud kar rahe hain.
  44. She says she is bad at negotiation and told the other party she would take whatever they offered. I'm so bad at negotiation. Aap jo denge main kar loongi.
  45. She was given a series of properties, reaching 12 and probably 15. he gave me the second, third, fourth, fifth, sixth, seventh. 12 properties ho gayin, 15 shayad probably.
  46. In the early days she handled check-ins, check-outs and bookings herself. main check-in bhi kar rahi hoon, check-out bhi kar rahi hoon, booking bhi le rahi hoon.
  47. She concluded the model was very bespoke and, although it might be profitable, could not scale. This is a very bespoke sort of a model where it may be profitable, but isme scale nahi aa sakta.
  48. A person told her she was working like the investor's personal assistant. He said ke, you know, right now, to be honest, you are just working like this investor's personal assistant.
  49. She formed the company in 2016, after starting the work in late 2014. I started this late 2014, uh, I full-fledged formed the company in 2016, got the license, got the space.
  50. The company hired its first accountant, a finance person and a guest relations officer. Literally, we hired our first accountant, first finance guy, first, uh, GRO, guest relation officer, so on and so forth.
  51. She stayed away from real estate because she did not want to be associated with it. And I didn't want to associate with it and I I was I was a fool.
  52. She says she missed out on a lot and left a lot of money on the table. I really missed out on a lot. I left a lot of money on the table.
  53. She says property sells on good aesthetics. property really sells on on good aesthetics.
  54. She chose to work with selective clients who had premium addresses. I sort of chose my niche. I only wanted to go with the selective people, you know, with the most premium addresses
  55. She says this is the time to be in real estate and that one will not excel in it without owning property. this is the time to be in real estate, and you will not excel it if you if you will not own it.
  56. She says her team handles off-plan deals and secondary deals, which are ready-to-move-in units passing from one landlord to another. We do everything. Off-plan, I have a team, so we do off-plan, we do secondary, which is like ready-to-move-in unit from one landlord to the other.
  57. She says the company has sold property to Americans, Chinese, Pakistanis and Indians. we've we've done it for Americans, we've done it for Chinese, we've, of course, done it for Pakistanis and Indians, all alike.
  58. She says she sells only projects she believes in, and she could sell them to anyone. If I believe in the project, then I can sell it to anybody.
  59. She says she is very bullish on Sharjah and Abu Dhabi. I am so bullish on Sharjah. I am so bullish on Abu Dhabi, you know.
  60. She says the Crown Prince of Sharjah initiated a new development there. the new development, uh, that has been initiated by the Crown Prince of Sharjah himself.
  61. She says Sharjah is building a corporate hub comparable to DIFC. They are coming out with the corporate hub of Sharjah, just like DIFC.
  62. She says there is no tax in Dubai. Dubai mein because, you know, aapka tax nahi hai.
  63. She does not foresee a Dubai property bubble, only possibly a correction. I don't foresee a bubble, maybe a correction, but not in the next, I would say...
  64. She says secondary Dubai property is already inflated and advises buying off-plan. Secondary is ready to move in. Already bahut inflated hai, right? So, go for off-plan.
  65. She calls large developers such as Emaar and Aldar big, well-backed companies. companies like Emaar, Arada, uh, Aldar, they are big daddies, right?
  66. She says Saadiyat homes start at about 8 million dirhams. Probably, jo jo Saadiyat hai, that starts with 8 million dirhams plus.
  67. She says the alternate hospitality model needs a reboot. So, you know, the model is is is in need of some sort of a reboot.
  68. She says Sonder and Vacasa are struggling with the scale they have reached. your Sonder, your Vacasa, even even, you know, the way they are struggling with the sort of scale that they have acquired
  69. She says they change the strategy and take more long-term guests. we change the strategy, right? We take more long-term guests.
  70. She says a healthy cash flow and positive P&L matter more than chasing investment. having a healthy cash flow, having a positive P&L is so much more important and respected
  71. She says VCs usually want three to five times their initial return. VC will not commit to you, or they will not give the fund to you unless they're getting three to five times the initial return
  72. She says a company based in Europe is on board in a strategic alliance that is not based on funding. I have a company on board which is based in Europe, so we are doing sort of a strategic alliance, but it's not nothing like, you know, it's not based on any sort of a funding.
  73. She says she chose not to take funding, which she believes could have limited growth. Because, you know, if I had taken that path, probably I could not have scaled the company.
  74. She says that when she had a co-founder and a seed fund on board, the plan was to keep scaling to different geographies. when I had a co-founder and a seed fund on board, I it was more like, you know, we will just keep scaling it, right, to different geographies
  75. She says she has been through two or three M&A rounds that fizzled out. I have done like two or three rounds of these M&As where things sort of like, you know, really fizzled out.
  76. She says ownership belongs to the landlord at the end of the day. Kyunke at the end of the day, ownership to landlord ki hai na.
  77. She says Pakistan's value will change completely within ten years. Believe me, 27 saal nahi, 10 saal mein Pakistan ki value bilkul badal jayegi.
  78. She says people in Pakistan should be accountable to themselves first. First of all, be accountable to yourself.
  79. Mahwussh Alam is the founder of One Perfect Group. Mahwussh Alam is the Founder of One Perfect Group.