Hadi Shehata Interview
Hadi Shehata is the Founder and CEO of Kapstone, a strategic advisory firm reshaping retail real estate across the Middle East. With over two decades of experience, Hadi leads with a vision built on insight, precision, and long-term value creation. Kapstone advises leading brands, landlords, and developers across retail, F&B, hospitality, and mixed-use developments—offering insight-led solutions from market entry to execution. Known for its discretion and deep market intelligence, the firm bridges global ambition with regional expertise. Under Hadi’s leadership, Kapstone has earned a reputation as the go-to partner for those seeking to scale, reposition, or future-proof their retail portfolios and assets across the MENA region.
A Vision Rooted in Strategy
We started the interview by asking, “Can you share some insight into your background and the vision behind your firm?”
Hadi Shehata replied, “I’m the Founder and CEO of Kapstone, a consultancy built on the principle that commercial real estate—particularly in the retail and mixed-use space—requires far more than transactional brokerage. With over two decades of experience across leading regional developers, I saw a clear gap: brands and landlords alike were being underserved by traditional approaches.
Kapstone was created to bridge that gap. We operate as strategic retail advisors—not brokers—guiding brands, investors, and developers through market entry, expansion, tenant mix optimization, leasing, and long-term asset positioning. What sets us apart is our end-to-end involvement and our ability to speak the language of both brand and landlord. Whether it’s placing a high-growth concept in a flagship mall or unlocking underutilized potential in mixed-use developments, we focus on commercial viability, long-term alignment, and strategic execution.
Personally, I’m driven by impact—helping brands scale sustainably, enabling developers to future-proof their assets, and building partnerships that are rooted in value creation. For me, success is not about volume—it’s about vision, precision, and lasting results.”
Leading with Insight
The Arab Today: Kapstone has quickly become a recognized name in the retail and mixed-use development space. What core philosophy or strategic insight do you believe has set your company apart from traditional retail real estate advisory firms?
Hadi Shehata replied, “At Kapstone, we operate on a simple but powerful principle: strategy before transaction. Unlike traditional property brokers who are often transactional by nature, we are deeply invested in shaping sustainable, long-term growth for our clients. Our core philosophy is to lead with insight—market data, consumer behavior, and brand DNA—then match it with location intelligence. We don’t just lease space; we craft future-proof retail ecosystems that perform. This advisory-first approach has consistently delivered commercial success for both brands and landlords.”
Blending East and West
The Arab Today: Given your extensive experience in both Australian and Middle Eastern markets, how has your international perspective shaped the way Kapstone approaches retail expansion and placemaking across the GCC?
Hadi Shehata replied, “Having started my journey in Sydney and now being rooted in Dubai for over 15 years, I’ve been fortunate to witness two very different market dynamics. Australia taught me the value of structure, planning, and human-centric urban design. The Middle East, on the other hand, operates at pace, with a drive for scale and innovation. Kapstone blends both worlds—we bring disciplined planning and global retail thinking into a region that thrives on bold vision and rapid transformation. This hybrid approach allows us to unlock opportunities that are commercially viable but also culturally and spatially relevant.”
Anticipating the Next Shift
The Arab Today: You’ve led advisory on some ambitious retail and hospitality concepts across the region. What do you believe is the next major shift in consumer behavior that landlords and brands must prepare for?
Hadi Shehata replied, “The next wave isn’t just about omni-channel or digital integration—it’s about emotional proximity. Consumers are seeking spaces that align with their identity, not just their needs. We’re moving from transactional retail to experiential belonging. Landlords and brands must now think more like cultural curators than traditional operators. Personalization, wellness integration, and hyper-local relevance are no longer luxuries—they’re expectations. At Kapstone, we’re advising our partners to pivot their asset strategies toward immersive, story-driven concepts that build community—not just footfall.”
Building Trust with Industry Giants
The Arab Today: Kapstone has worked with developers like Emaar, MAF, Aldar, and Dubai Holding—what’s your approach to building trust and long-term alignment with such heavyweight stakeholders in a highly competitive market?
Hadi Shehata replied, “Trust in this industry is built on two things: delivery and discretion. Our relationships with top-tier developers are anchored in our ability to consistently deliver viable concepts, credible tenants, and strategic foresight—not just deals. We speak their language, understand the intricacies of development cycles, and align our recommendations with their broader asset management strategies. At the same time, we protect the integrity of our clients’ brand vision, which fosters a collaborative rather than competitive environment. That balance has been key in making us a preferred advisor across multiple portfolios.”
Adapting to the Blurring Boundaries
The Arab Today: With the lines between retail, F&B, and experience-driven spaces continuing to blur, how is Kapstone evolving its service model to stay ahead of this convergence?
Hadi Shehata replied, “We’ve expanded beyond retail advisory into a fully integrated model—consulting, concept development, leasing, design advisory, and even operational intelligence. The consumer today doesn’t compartmentalize their experience; they engage holistically. So, our job is to curate ecosystems, not just tenants. This is why we’ve established new verticals at Kapstone to handle experiential F&B, leisure, wellness, and hospitality concepts—seamlessly integrating them into mixed-use environments. It’s a strategic evolution from site sourcing to destination making.”
Avoiding Common Mistakes
The Arab Today: What advice would you give to brands looking to enter the Middle East market, especially those who mistakenly rely on property brokers instead of specialized retail advisors?
Hadi Shehata replied, “The Middle East is not a plug-and-play market. What works elsewhere can easily fail here without local insight and a strategic rollout. Property brokers often focus on closing deals quickly, but brands need much more than a lease—they need a market entry roadmap. This includes everything from localization of the offer to site curation, lease strategy, and landlord alignment. Brands that appoint experienced retail advisors gain access to a network, a methodology, and a level of protection that brokers simply cannot provide. In fact, most landlords today prefer to deal with advisors like us because we speak the same language and understand the full picture and the mechanics of what it takes.”
Building a Global Legacy
Lastly we asked, “Looking ahead, what is your long-term vision for Kapstone—not just regionally, but globally? How do you plan to position the company in the next five years as a leader in the transformation of urban commercial environments?”
“Kapstone’s ambition is to become the most trusted retail and placemaking advisory firm in the MENA region and beyond. We’re building a legacy business—not just a consultancy—anchored in thought leadership, execution excellence, and future relevance. Over the next five years, we aim to deepen our footprint across Saudi Arabia, North Africa, and select global gateway cities where demand for strategic expansion is rising. We’re also actively exploring tech integrations, data-driven leasing tools, and investor syndication models that will redefine how developments are curated. Ultimately, Kapstone will be the firm that developers, investors, and visionary brands call when they want to build not just a project—but a legacy.” Hadi Shehata Concluded
Connect with Hadi Shehata on LinkedIn
Visit Kapstone to learn more about it
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