Abu Dhabi’s Aldar Properties announces new operating model to drive growth

Abu Dhabi’s Aldar Properties has adopted a new operating model to drive its next phase of growth.

The new model promotes agility and accountability throughout the organisation, with two core businesses, Aldar Investment and Aldar Development, led by their own CEOs – Jassem Busaibe and Jonathan Emery, respectively. They will both report to the group CEO.

Established as independent arms, Aldar Development and Aldar Investment will have their own decentralised governance models and support functions, while remaining aligned with Aldar’s overall business strategy.

This will allow them to pursue relevant opportunities, while expanding their specialised portfolios. Overseeing the two entities, Aldar will focus on the brand, strategy, capital allocation, governance, as well as the people, legal, audit and excellence functions.

الدار العقارية تعتمد نموذجاً تشغيلياً جديداً استكمالاً لمسيرة نموّها

Aldar announces new group operating model as it embarks on the next phase of growth pic.twitter.com/yggBsOsY6c

— Aldar Properties (@AldarTweets) January 31, 2021

“The new group operating model reflects Aldar’s growth and maturity and builds on the robust governance and exceptional talent we have on board,” said Talal Al Dhiyebi, group chief executive officer, Aldar.

“The diverse and dynamic business we are today requires a more agile operating model that will enable our next phase of growth. Our strategy is clear, placing our people and customers at the heart of everything we do, while remaining at the forefront of sustainable development, digital transformation, and operational excellence,” he added.

Aldar Development
Aldar Development will include three subsidiaries – Aldar Projects, Aldar Ventures and Aldar Egypt. It will build on Aldar’s position and its 75 million square metres land bank to offer innovative products that integrate best-in-class technologies and sustainability practices.

· Aldar Projects, a project delivery arm, will focus on quality in the delivery of integrated communities that adhere to operational excellence, supply chain management, and technology adoption, while keeping sustainability at its core. Aldar Projects will be responsible for managing Aldar’s fee-based development management business, including Dhs45bn of government housing and infrastructure projects.

· Aldar Ventures will incubate and nurture new business opportunities and innovation areas that will offer services to customers, investors, and developers.

· Aldar Egypt will be the platform that is focused on the Egyptian property market to develop integrated mixed-use communities.

Aldar Investment
Aldar Investment will house Aldar’s core asset management business, focusing on maximising the value of the company’s portfolio of Dhs20bn of recurring income assets as well as managing three core platforms, Aldar Education, Aldar Estates and Aldar Hospitality and Leisure.

· Aldar Education will include Aldar’s entire educational portfolio, including Aldar Academies, with 20 schools, over 24,000 students and a growing network of 3,000 educators from over 100 nationalities.

· Aldar Estates will consolidate Aldar’s retail operations alongside existing residential and commercial real estate operations within Provis and will further include community management under one integrated property management platform.

· Aldar Hospitality and Leisure will look after Aldar’s portfolio of hotel and leisure assets, which are anchored around Yas Island and Saadiyat. It will focus on optimising occupancy strategies of its 10 hotels, comprising over 2,900 hotel keys and managing operations across golf courses, beach clubs and marinas.

Last month, Aldar Properties agreed to sell the Abu Dhabi Golf Club Complex, including the Westin Hotel and the Abu Dhabi Golf Course, to an undisclosed investor for Dhs180m.

Read: Aldar Properties sells Abu Dhabi Golf Complex for Dhs180m

It came a few weeks after Aldar had confirmed that would take over the management of several government capital projects worth Dhs30bn ($8.2bn), as part of an agreement with holding company ADQ.

Read: Aldar, ADQ sign agreement on Dhs30bn of Abu Dhabi projects