In 𝟐𝟎𝟎𝟖, our company stood at the peak of the 𝐃𝐮𝐛𝐚𝐢 𝐫𝐞𝐚𝐥 𝐞𝐬𝐭𝐚𝐭𝐞 𝐰𝐨𝐫𝐥𝐝. A turnover of 𝟒 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐀𝐄𝐃. Massive numbers. Endless growth. A belief that the climb would never end.
𝐓𝐡𝐞𝐧 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐜𝐨𝐥𝐥𝐚𝐩𝐬𝐞𝐝.
In a heartbeat, the 𝐛𝐢𝐥𝐥𝐢𝐨𝐧𝐬
vanished.
The assets disappeared.
But I survived — and survival taught me truths that numbers never reveal.
Today, as I watch the industry face new pressures, I feel
compelled to share a caution that many developers ignore:
𝐀 𝐝𝐞𝐛𝐭-𝐟𝐫𝐞𝐞 𝐛𝐚𝐥𝐚𝐧𝐜𝐞 𝐬𝐡𝐞𝐞𝐭 𝐜𝐚𝐧 𝐬𝐭𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐝𝐚𝐧𝐠𝐞𝐫𝐨𝐮𝐬 𝐩𝐥𝐚𝐜𝐞 𝐭𝐨 𝐬𝐭𝐚𝐧𝐝.
𝐓𝐡𝐞 𝐇𝐢𝐝𝐝𝐞𝐧 𝐏𝐫𝐞𝐬𝐬𝐮𝐫𝐞 𝐁𝐞𝐡𝐢𝐧𝐝 “𝐙𝐞𝐫𝐨 𝐃𝐞𝐛𝐭”
𝟏. 𝐘𝐨𝐮 𝐨𝐰𝐞 𝐭𝐡𝐞 𝐩𝐞𝐨𝐩𝐥𝐞, 𝐧𝐨𝐭 𝐭𝐡𝐞 𝐛𝐚𝐧𝐤𝐬
When you avoid institutional loans, you are essentially
borrowing from families through their advances.
𝐀 𝐛𝐚𝐧𝐤 𝐢𝐬 𝐚 𝐜𝐨𝐧𝐭𝐫𝐚𝐜𝐭.
𝐀 𝐟𝐚𝐦𝐢𝐥𝐲 𝐢𝐬 𝐚𝐧 𝐞𝐦𝐨𝐭𝐢𝐨𝐧𝐚𝐥 𝐫𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲.
𝐓𝐡𝐚𝐭 𝐰𝐞𝐢𝐠𝐡𝐭 𝐢𝐬 𝐟𝐚𝐫 𝐡𝐞𝐚𝐯𝐢𝐞𝐫 𝐭𝐡𝐚𝐧 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭.
𝟐. 𝐓𝐡𝐞 𝐯𝐞𝐥𝐨𝐜𝐢𝐭𝐲 𝐭𝐫𝐚𝐩
High turnover creates an illusion of safety.
But without a credit line or financial cushion, a zero-debt company has no
oxygen.
When the market stops, you don’t slow down — you suffocate.
𝟑. 𝐕𝐢𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐢𝐧𝐯𝐢𝐭𝐞𝐬 𝐬𝐜𝐫𝐮𝐭𝐢𝐧𝐲
In today’s regulatory climate, rapid growth without
leverage raises questions.
Success without buffers attracts pressure that many founders are not
emotionally prepared for.
𝐌𝐲 𝟐𝟎𝟎𝟖 𝐋𝐞𝐬𝐬𝐨𝐧: 𝐓𝐮𝐫𝐧𝐨𝐯𝐞𝐫 𝐈𝐬 𝐕𝐚𝐧𝐢𝐭𝐲
𝐏𝐫𝐨𝐟𝐢𝐭 𝐢𝐬 𝐬𝐚𝐧𝐢𝐭𝐲.
𝐂𝐚𝐬𝐡 𝐟𝐥𝐨𝐰 𝐢𝐬 𝐫𝐞𝐚𝐥𝐢𝐭𝐲.
𝐁𝐮𝐭 𝐦𝐞𝐧𝐭𝐚𝐥 𝐩𝐞𝐚𝐜𝐞 𝐢𝐬 𝐞𝐯𝐞𝐫𝐲𝐭𝐡𝐢𝐧𝐠.
When founders tie their identity to slogans like “𝐙𝐞𝐫𝐨 𝐃𝐞𝐛𝐭,” “𝐀𝐥𝐰𝐚𝐲𝐬 𝐂𝐨𝐧𝐟𝐢𝐝𝐞𝐧𝐭,” 𝐨𝐫 “𝐍𝐞𝐯𝐞𝐫 𝐅𝐚𝐢𝐥,” 𝐭𝐡𝐞𝐲 𝐥𝐞𝐚𝐯𝐞 𝐭𝐡𝐞𝐦𝐬𝐞𝐥𝐯𝐞𝐬 𝐧𝐨 𝐫𝐨𝐨𝐦 𝐭𝐨 𝐛𝐞 𝐡𝐮𝐦𝐚𝐧.
𝐍𝐨 𝐫𝐨𝐨𝐦 𝐭𝐨 𝐬𝐚𝐲, “𝐈 𝐚𝐦 𝐬𝐭𝐫𝐮𝐠𝐠𝐥𝐢𝐧𝐠.”
𝐍𝐨 𝐫𝐨𝐨𝐦 𝐭𝐨 𝐛𝐫𝐞𝐚𝐭𝐡𝐞.
𝐀 𝐂𝐚𝐮𝐭𝐢𝐨𝐧 𝐭𝐨 𝐌𝐲 𝐅𝐞𝐥𝐥𝐨𝐰 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬
𝟏.
𝐃𝐨𝐧’𝐭 𝐛𝐞 𝐚 𝐬𝐥𝐚𝐯𝐞
𝐭𝐨 𝐚 𝐬𝐥𝐨𝐠𝐚𝐧
If a loan gives you stability, 𝐭𝐚𝐤𝐞 𝐢𝐭.
𝐘𝐨𝐮𝐫 𝐩𝐞𝐚𝐜𝐞 𝐨𝐟 𝐦𝐢𝐧𝐝 is
worth more than a tagline.
𝟐. 𝐐𝐮𝐢𝐞𝐭 𝐲𝐨𝐮𝐫 𝐬𝐮𝐜𝐜𝐞𝐬𝐬
In a high‑scrutiny world, flamboyance is not a strategy — it is a risk.
𝟑. 𝐂𝐡𝐞𝐜𝐤 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐛𝐫𝐨𝐭𝐡𝐞𝐫𝐬
The “top man” is often the loneliest person in the building.
𝐘𝐨𝐮𝐫 𝐥𝐢𝐟𝐞 𝐢𝐬 𝐰𝐨𝐫𝐭𝐡 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝐲𝐨𝐮𝐫 𝐭𝐮𝐫𝐧𝐨𝐯𝐞𝐫
We lost a 4‑billion‑AED empire and survived with zero
assets.
That experience taught me that numbers can be rebuilt — but a life cannot.
𝐋𝐞𝐭 𝐮𝐬 𝐛𝐮𝐢𝐥𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐰𝐢𝐭𝐡 𝐬𝐭𝐫𝐞𝐧𝐠𝐭𝐡, 𝐡𝐮𝐦𝐢𝐥𝐢𝐭𝐲, 𝐚𝐧𝐝 𝐡𝐮𝐦𝐚𝐧𝐢𝐭𝐲.
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