Subhas Chandra: Creating Strategic Impact On GCC’s Real Estate Economy

Subhas Chandra: Creating Strategic Impact On GCC’s Real Estate Economy

Subhas Chandra , CFO

Subhas Chandra


Several financial wizards from India and other Asian countries are at the forefront of leading global organizations to new heights. Among these exceptional professionals, one name that deserves recognition is Subhas Chandra, the CFO of Diyar Al Muharraq. With a compelling journey and a trail of remarkable achievements, Subhas Chandra's rise to the top is a testament to the growth factors that propelled him to his current esteemed position.

After graduating with a Bachelor's degree in Commerce from Mangalore University, India, he excelled academically and received the prestigious gold medal. He attributes his successful journey to pursue a Chartered Accountancy professional course and in becoming a member of the Institute of Chartered Accounts of India to Dr. D Veerendra Heggade, a great philanthropist and Dharmadhikari of Sri Dharamathala Manjunatheswara Temple, in Karnataka. A significant turning point arrived when he joined ABB, India, a renowned, benchmarking, multi-national conglomerate. At ABB, Subhas gained valuable experience, enhancing his professional skills and leadership style.

Driven by the desire for new opportunities, Subhas embarked on an international career, initially in Qatar and then in Bahrain, where he dedicated nearly two decades to esteemed organizations like Majid Al Futtaim G roup, G REDCO ( GBCORP s ubsidiary), A l Retaj Holding Company, TAIB Bank, and Lafarge.

His expertise and strategic financial acumen continue to steer the company's success in the dynamic Gulf region real estate market. Subhas's journey, from modest beginnings in Bangalore to the CFO of a prominent real estate firm, showcases perseverance, dedication, and an unwavering pursuit of excellence. CEO Insights engages in an interview with him underscoring the significant contributions he is making to the real estate economy in GCC.

How would you define Diyar Al Muharraq as an organization and its current position in the market?

As the only largest developer in Bahrain, Diyar Al Muharraq is involved in the creation of a sprawling 12-square-kilometer city. This ambitious project aims to offer a multitude of experiences to the region with a distinctive living style. Diyar Al Muharraq's vision encompasses a master community that not only provides residential spaces but also includes commercial areas, hotels, schools, educational institutions, and captivating seafront and beachfront living options. The organization prioritizes sustainability by utilizing renewable energy sources such as solar power and implementing water conservation measures. With its commitment to smart infrastructure and sustainable development practices, Diyar Al Muharraq has established itself as a leading real estate development and investment company in Bahrain.

How do you identify new ways to attract investment as a company?

We employ various financial and strategic models to attract investment. One key approach is through joint ventures and bulk deals. For instance, we successfully established a joint venture with Eagle Hills, a major real estate investment and development company in Abu Dhabi. This partnership has led to the development of a large shopping mall, branded apartments, Address Beach Resort, and Vida Beach Resort in the prominent beachfront location of Marassi Al Bahrain, within Diyar island. These developments will provide a customer experience similar to JBR in Dubai. Another significant investment model we utilize is the public-private partnership (PPP) for the successful completion of a billion-dollar project in collaboration with the Ministry of Housing in Bahrain. Furthermore, we aim to attract investments and create mutually beneficial solutions.

Leadership is about transforming – inspiring & empowering individuals to surpass their limits

What are the metrics you use to determine the profitability of an investment?

The primary metrics we consider are the return on investment (ROI) and the internal rate of return (IRR), cash flow, and other investment evaluation parameters. We assess the attractiveness and profitability of investment by analyzing the potential returns and the exit value at the end of the project. Additionally, we evaluate the yield on investment compared to risk-free returns. However, we also take a socialistic approach, considering the value we can add to the city and community development, not solely focusing on very high financial returns.

As a CFO, could you tell me about a few traits or qualities that are best associated with your style of leadership?

I strongly believe in and practice the transformational leadership style. Furthermore, I prioritize uplifting and empowering my team members, so that whenever they approach me with any challenges or concerns, they depart from our interactions with a sense of contentment, motivation, and happiness. This transformational approach extends from the smallest level to the highest, as strategic management involves driving the company's growth, managing risks, improving the bottom line, and optimizing return on investment. Additionally, I also embrace a democratic leadership style, empowering staff and leveraging collective wisdom to foster a collaborative and inclusive environment that capitalizes on the unique leadership qualities of each individual for the betterment and growth of the company.

Going forward, what are your plans that you plan to invest your time in?

Looking ahead, given full liberty I intend to venture into further expansion and related diversification. I also believe in pooling collective ideas and exploring disruptive business models, such as AI, blockchain technology, electric vehicles (EV), and renewable energy. These fields present numerous growth opportunities, despite the competitiveness and investment requirements to create a multi-bagger return over the next decade. I expresses my sincere thanks to Diyar Board of Directors – Chairman, Vice Chairman and Board members for reposing faith in me to be part of the strategic leadership team.

Subhas Chandra, CFO, Diyar Al Muharraq

Suhas attended Executive Education program in Harvard Business School, Boston, USA and London Business School, London, UK. He owes his remarkable journey to three important personalities in his life. The first is the esteemed philanthropist, spiritual leader, and Rajya Sabha member Dr. D. Veerendra Heggade, known for his contributions to the fields of spirituality, education, and rural development. And then to Dr. Maher Al Shaer, whose professional grooming and leadership guidance enriched Subhas's learning journey. Last but not least, Subhas expresses gratitude to his current CEO, Eng. Ahmed Alammadi for his excellent motivation, guidance, and support. The guidance of these mentors and the unwavering support from his family - daughter Dr. Krithi, son Vikhyatha and wife Kundapur Geetha Bai have contributed to his exceptional achievements in life.


  • MENA CFO Achievement Award - 2018
  • Financial Professional of the Year from Marcus Evans Realty 2.0 Conference by MoRe
  • Outstanding Leadership Award on Real Estate and Construction - 2023

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