For Dean Main, founder of property management firm Rhodium, there’s nothing out of the ordinary about receiving calls from Middle Eastern governments or the Monégasque royal family. Since establishing his business 14 years ago, the dynamic entrepreneur has advised on residential projects for some of the world’s leading property developers and architects, such as Almacantar, Finchatton, Norman Foster, John Caudwell and the late Thierry Despont.
‘Our portfolio hit $15 billion last year and we’ve been receiving phone calls and invitations to manage schemes abroad,’ Main says as he describes a ‘defining moment’, when the Saudi government requested Rhodium’s input ‘on one of their big projects’.
Rhodium’s success began by virtue of Main’s background as a property developer. After struggling to find a management company capable of providing a seamless hotel-like service for ‘ultra-luxury’ residences, he rolled up his sleeves to tackle the task himself. The firm has thrived, going on to manage more than 2,000 individual residences, thereby cementing its foothold across prime central London. Plans for the future include opening offices in Dubai and Athens.
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Main credits the firm’s achievements to its fundamental and unwavering proposition: committing to new-build developers whose priority is providing carefully curated residences to discerning UHNWs. ‘Our focus is what separates us from our competitors,’ he tells Spear’s. ‘We’ve always stayed true to who we are, and if someone says, “Do you do something else?”, it’s a clear “no”.’
The allure of expanding a business’s focus is a trap entrepreneurs often fall into, Main claims, but it’s one that threatens the standard of service clients expect.
Rhodium remains selective about who it chooses to partner with, regardless of how famous the brand’s name might be. Main’s ethos is simple: if a potential partner’s first priority is not its brand equity and consequently the client service it aims to provide, Rhodium will refrain from working alongside them. ‘We want to work with brands where it’s not about bottom-line profits,’ he explains. ‘The brands we work with want to emulate what Rhodium has done, which is focusing on new-build super-prime locations with high-end finishes and top architecture. The minute you veer off, it ends in disaster.’
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Elevating the firm’s success while simultaneously maintaining its core values has necessitated a strong team effort, Main recognises. ‘Our people are the magical ingredient we have in our business,’ he says. ‘It’s never one person and it’s never just me. It’s everyone together that creates our success.’
This feature is published in Spear’s Magazine Issue 94. Click here to subscribe
