Leaders

Women leaders in Dubai have made a remarkable impact across industries, from finance to technology, retail, and hospitality. Their ability to navigate challenges, break barriers, and inspire growth is shaping the future of the business landscape in the UAE. Among these trailblazing women is Annika S., the CFO of Nara Desert Escape, a luxury hospitality company in Dubai. Annika’s career began at a Big Four firm in Stockholm before she came to Dubai in 2007. She was immediately struck by the city’s diverse, entrepreneurial spirit, which ignited her passion for business. During Dubai’s financial challenges, Annika played an integral role in large restructuring projects, stabilizing the market and ensuring full repayment to lenders through asset sales.

As CFO for the Swedish Expo during Dubai Expo 2020, Annika spearheaded efforts to create something unprecedented, which was a source of immense pride for her. Her extensive global travels have also taught her resilience and the importance of networking. A true advocate for learning through experience, Annika encourages young people to explore the world and embrace challenges. Let’s dive in to know more.

Can you share the key areas of expertise you've developed throughout your career as a financial expert?

Living and working in Dubai has been a valuable learning experience, especially in understanding the business landscape and local regulations. The introduction of VAT in 2018 was particularly challenging for many, but I took it upon myself to stay informed, using knowledge from other markets to help educate others. Working with various industries in Dubai has provided insight into import regulations, licensing, HR rules, and tax laws. I’ve learned that local knowledge is crucial, as tax experience alone is not enough. My consulting background taught me the importance of creating value for clients, always keeping in mind the possibility of selling the business or a stake in it. This perspective shaped my approach to negotiation and problem-solving. Additionally, as a CFO, managing risk is essential. My risk-averse nature has proven beneficial, especially when working with entrepreneurs who may be too focused on growth to recognize potential risks.

Tell us about Nara Desert Escape. What are the main roles and responsibilities you handle as the CFO of the company?

Nara Desert Escape is a luxury hospitality startup founded by Stephanie Reichenbach nearly seven years ago, offering unique desert experiences in Dubai. Initially a small pop-up tent, it has evolved into a full-scale company providing glamping, private events, city tours, catering, and the SoNara Desert Escape Dhow experience with Emirati cuisine and entertainment. The debt-free company employs over 200 people and hosted more than 40,000 covers and nearly 300 private events last year. While managing finances, accounting, cash flow, and budgets has always been key, my role has expanded to overseeing people, suppliers, and deadlines, especially as the company has grown rapidly. My responsibilities now include leading a team, sharing knowledge, and ensuring operational growth and strategic planning. Being deeply involved in every aspect of the business allows me to understand its diverse functions and challenges, driving Nara Desert Escape's continued success.

What do you consider to be the most significant challenges in your current role at Nara Desert Escape, and how do you address these obstacles?

At Nara Desert Escape, we face typical startup challenges, including capitalizing on opportunities while managing ongoing operations and new ventures. With strong leadership, we are growing quickly, partnering with Ras Al Khaimah and the Dubai Desert Conservation Reserve to strengthen government relationships for national growth. Sustainability is central to our approach, aiming to balance efficiency and cost while creating long-term value. The finance department plays a critical role, in balancing the needs of owners, suppliers, employees, and customers. With over 200 staff and thousands of customers, we prioritize strong governance, adaptability, and customer satisfaction. Seasonality is a challenge in Dubai's hospitality industry, but we're exploring new markets and experiences to sustain growth year-round.

How do you see the finance landscape in Dubai evolving in the coming years? What steps are you taking to futureproof Nara Desert Escape and ensure its financial success in the near term?

Since the pandemic, Dubai has successfully diversified its economy, with robust banking systems and strong performance across various sectors. The IPO market has attracted new liquidity, strengthening the city's financial health. The global glamping market, growing rapidly, presents significant opportunities for Nara Desert Escape, with Dubai’s booming tourism sector playing a key role. Nara Desert Escape caters to a wide range of customers, including residents, with new experiences like Winter Wonderland to keep the offerings fresh. We maintain strong financial governance, staying debt-free and making informed decisions through effective leadership. Our commitment to Dubai’s vision is reflected in our ambitious yet conservative approach. AI is transforming the landscape, improving efficiency while balancing quality and customer satisfaction. We are also mindful of the regulatory environment, closely monitoring factors outside control that could impact operations.

Annika S, CFO, Nara Desert Escape

Annika S. is the CFO of Nara Desert Escape, a leading luxury hospitality group in Dubai. With extensive experience in financial governance, Annika has played a key role in managing Nara Desert Escape's growth and operations. She brings a strong background in finance, risk management, and strategic decision-making to drive the company's success.

Advice for aspiring women entrepre­neurs/business leaders: Don’t overthink things, take the opportunity when it presents itself. Life is short, and pursu­ing something you’re passionate about will lead to success. I recently heard a thought-provoking question, What would you do if you knew you couldn’t fail? It’s a powerful idea to reflect on!