Emaar Sets Up Core Team To Develop Five-Year PlanSunday, May 08, 2011
Emaar Properties has established a team of senior managers and external consultants to develop and roll out a five-year corporate strategic action plan for long-term value creation, the company said in a statement yesterday. The team, under the leadership of Chairman Mohammad Al Abbar, will focus on a value-creation strategy that takes into account the current market realities, evolution of new markets and potential growth opportunities, and create a strategic plan for translating strategic growth initiatives into tangible value creation propositions. "Emaar successfully met the challenges of the global financial crisis, posting net operating profits of Dh3.034 billion in 2010 and Dh2.324 billion in 2009, despite challenging market conditions.
As an organisation committed to long-term value creation for our stakeholders, it is extremely important that we review our corporate growth strategy in line with the prevailing global market trends and the socio-political landscape," said Al Abbar. The company said that the core team will focus on four key areas: strengthening the resilience of the organisation in the wake of recent social, political and economic changes in its regional and global markets; establishing a sustainable business model for the future; identifying and capitalising on the growth opportunities; and creating a robust organisational and corporate governance framework that resonates with new market realities. The approach of the new team will be led by a thorough evaluation of the property market of Emaar in key areas and the company's future models of development.Source: Gulf News