Dubai-based developer Emaar has announced a major rehaul in its organisational structure in order to tap into the industry’s growth over this year.
Under the new structure, the company will focus on carrying out professional project management, ensure timely delivery of all projects and improve its customer service, a statement said.
Mohamed Alabbar, chairman of Emaar Properties, said the new organisational structure draws on the Dubai Plan 2021 announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.
“As Dubai builds its future as a smart, sustainable city and a preferred place to live, work and visit, Emaar is creating a fresh template for its sustained growth and value creation. In today’s maturing property market, our priority is to manage and deliver our projects efficiently through our team of experienced professionals.”
He added that Emaar will continue to develop prime real estate projects in its home market of Dubai along with the other international markets under the revamped organisational structure.
The real estate developer will also strengthen its competencies in its retail and leisure portfolio, Alabbar said.
As part of the new structure, Emaar also appointed Amit Jain to the post of Group COO and CEO – Emaar Dubai. He will be responsible for the overall operations and financial matters for the group with a special focus on the Dubai operations.
With assets of Dhs64.93 billion ($17.68 billion) as of 2013 end and an impressive land bank of over 226 million sq m in high-growth international markets, Emaar has launched several new major projects this year, which received strong investor response.
These include the Dubai Creek Harbour at The Lagoons in a joint venture with Dubai Holding, Dubai Hills Estate with Meraas Holding, the expansion of Arabian Ranches and The Opera District in Downtown Dubai, among others.
In 2014, Emaar also announced one of the largest dividends by any listed company in the UAE of Dhs17.12 billion ($4.66 billion).