Teraciel Properties is the epitome of couture real estate. It’s where artistry meets opulence. The boutique real estate firm is a part of the Teraciel group, an architecture and interior design firm founded in 1985. They are the custodians of ultra-luxury living, crafting bespoke masterpieces that transcend trends.
The director of Teraciel group (of which Teraciel Properties is a part), Ujjwal Goel, at the age of 27, was featured on the Forbes 30 under 30. ‘Having taken over the business in 2014 at the age of 22, Ujjwal Goel increased turnover by 60 times within four years, from $2.5 million in 2013 to $150 million worth of ongoing projects in 2018. Turning the family-run business into a corporate establishment’, were the words the prestigious publication used to describe used to describe Ujjwal Goel.
Since then Goel, Director, Teraciel Group has taken his company on a stratospheric rise and has become a name to be reckoned with. In a region saturated with luxury properties, his work stands out as unique and tasteful as evidenced by the fact that the company has done work for several palaces in the region.
Intrigued by his sheer brilliance and business acumen, Life N Style in an exclusive conversation with Ujjwal Goel, delved deeper into what inspires and motivates him in a bid to find out more about the secret of his unparalleled success at such a young age.
Building on the success of Teraciel Group, you have established Teraciel Properties in the UAE as a separate entity and grown the business to be worth upwards of AED 750 million in an exceptionally short period of less than half a decade. That’s incredible! To begin with, we would love to know the story behind this rapid success.
Ujjwal Goel, Director, Teraciel Group: The journey of Teraciel Properties in the UAE has indeed been an incredible ride, which began in 2014 when I arrived in Dubai with a vision focused on trading. However, seizing opportunities is a key principle and the initial foray into fit-out works for villas proved to be a pivotal turning point. From these humble beginnings, we expanded ambitiously, scaling up to handle the intricate fit-out works for palaces.
Recognising a significant demand in Africa, we extended these services to cater to large-scale projects, including airports, convention centres, parliamentary buildings, and five-star hotels. This expansion not only showcased our adaptability but also highlighted our commitment to meeting diverse demands in the global market.
Our expansion to India was strategic as it leveraged our established network and implemented a shared services model to enhance international efficiency. This step not only broadened our geographic footprint but also solidified our position in the international market.
We diversified, adding Teraciel Engineering & Contracting to our services to focus on civil construction. Culminating this remarkable journey was the downstream expansion into the real estate sector with Teraciel Properties.
Drawing on decades of experience in design and build, our real estate division was conceived to create properties that stand out as couture, well-thought-out developments.
The Imperial is described as a groundbreaking achievement. Could you elaborate on the distinct features contributing to its value and desirability?
The Imperial has an astounding architectural aesthetic, including a French Colonial design mix that makes it stand out as a regal, one-of-a-kind mansion. With a limestone marble facade and touches of timeless elegance towards the exterior, we have created a project that undeniably stands the test of time as a bespoke offering built for the most discernible clientele.
Furthermore, the villa is furnished with bespoke, custom-designed furniture by the renowned ANCA – expert artisans who immortalise innovative and creative designs. This allowed us to enhance the overall aesthetic and functionality with high-end veneers and semi-precious stones.
Intricate marble work including semi-precious mother-of-pearl inlays have been integrated to deliver something unparalleled in the market. The beautiful marble work is common in ultra-luxury villas, but the mother-of-pearl inlays are a market first.
A Steinway & Sons, a self-playing piano, provides a multi-sensory experience the moment you enter the house.
The open courtyards; and the inclusion of open courtyards enhance the villa’s design, providing a seamless connection between indoor and outdoor living spaces.
Looking ahead, what inspired projects can we expect from Teraciel Properties, and how does the company plan to continue setting new benchmarks in the global real estate industry?
Our investment strategy focuses on the most prime locations. For example, across the brimming Dubai Real estate market, Emirates Hills, Palm Jumeirah, Dubai Hills and Jumeirah Bay are the key locations that are particularly promising in the UAE Market. Driven by an ambition to repeatedly one-up ourselves, we can confidently say that potential buyers can rest assured that each new project we unveil will be unique in its own right and provide an incomparable real estate asset that cannot be found in any market – irrespective of geographic location.
It is imperative to explore the mind behind the thoughtful spaces you create. What is your soul food? Which travel destination rejuvenates you?
As it relates to my creative process, the essence lies in simplicity, and my soul food undoubtedly aligns with this philosophy – simple Indian home food. There’s a profound comfort and nourishment that I find in the authentic flavours and traditional dishes that are prepared with love. It serves not just sustenance for the body but also feeds my soul.
In terms of rejuvenation through travel, California has long held a special place in my heart. The diverse landscapes, the innovative spirit, and the cultural vibrancy of the state offer a perfect escape. However, more recently, my travels have extended to Boston, where I dedicate a month each year to a program at Harvard Business School. This immersive experience has become a wellspring of rejuvenation for me. The time spent at HBS brings a fresh perspective, ignites new ideas, and leaves me rearing to go and grow.
The most important thing is to add value to society at large, and the only way to do this is to gain clarity on how you can fill market gaps. To quote Maya Angelou, “You can’t know where you are going until you know where you have been.”
Coming from a gifted entrepreneurial mind, what personal message would you like to extend to young innovative minds out there?
To the young and innovative minds out there, I extend a heartfelt message rooted in the lessons of my entrepreneurial journey. Firstly, dare to dream big. Embrace audacious goals and allow your imagination to soar beyond conventional boundaries.
Secondly, heed the power of working in the quiet. Amidst the noise and hustle, find solace in focused, diligent work. Embrace the process, relishing the journey as much as the destination.
Importantly, stay grounded. No matter how high you climb, maintaining humility is key. Success should be a ladder to lift others, not a platform to boast.
Furthermore, have a larger purpose. Beyond personal success, consider how your endeavours contribute to the greater good.
Lastly, execute for that purpose. Turn your dreams into actionable plans, and tirelessly work towards their realisation. These principles have been the cornerstone of my entrepreneurial journey, and I believe they can be guiding lights for the innovative minds shaping the future.
