Fawaz Suleiman is the co-founder and Chief Finance Officer (CFO) of Harbourage, a real estate development company in Abuja. In this interview, the graduate of mechanical engineering from Ahmadu Bello University, (ABU) Zaria, shares his journey from engineering to finance and real estate sectors.
What motivated you to venture into real estate?
I am passionate about business process solutions. I have an engineering background with a bachelor’s degree in mechanical engineering. I started my career in financial services with specialisation in international trade and thereafter insurance and was in it for over five years. I am a certified Financial Modelling and Valuation Analyst (FMVA), COREN certified Mechanical Engineer and MBA (in-view) with a specialisation in Finance and Investments.
My venture into real estate was a blend of preparation and opportunity. I happen to have close ties with players in the real estate value chain spanning across design, architecture, construction, project management and business development etc. It was therefore easy to identify the prevailing process issues in the real estate business and the need for a solution.
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How has the journey been since you started?
Like most businesses, the early stages were very challenging, particularly as we tried to maintain equitable overhead costs. Job functions were broad, business meetings were unending and at times frustrating. This has however helped us as an organisation to build people around systems and not otherwise. We were able to overcome it by perseverance and confidence that was fuelled by our commitment to solving problems.
What are the challenges you faced and how were you able to navigate them?
The major issue faced was acceptance. The real estate industry is harsh on new players looking to expand its frontiers by promoting collaboration, detailing process flows and enhancing client engagement. The traditional real estate institutions were not so open to disruption. Continuous engagements have helped. As such, our results have taken it from there.
With your business being a startup, what are you doing differently?
James Clear, the author of the bestselling book “Atomic Habits” once wrote “You don’t rise to the level of your goals; you fall to the level of your systems”. Systems are at the core of all we do at Harbourage. Our businesses are system-based and resonate with our value propositions of “continuous streamlining of business procedures and processes to eliminate all bottlenecks in real estate transactions while upholding due diligence” and “building the most functional, safe and unique properties”
Is the real estate sector favourable to youths trying to carve a niche independently?
I believe so. I however think that to create value in real estate requires creative collaboration between professionals across different backgrounds to ensure every strategic business unit of the business is run efficiently to achieve overall organisational objectives. This, we have implemented at Harbourage.
What are your plans for the future?
The plan is to be the foremost real estate company in Africa known to provide excellent solutions to prevailing user experience problems in the industry. We know what we have to do and have personnel with the imagination to actualise it.
What will be your advice to youths who are planning to start businesses, particularly those that are capital intensive?
First is education and research which is key to every business. Build a strong network, collaborate! collaborate!! collaborate!!!, and focus on value creation in patience and persistence.
