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Property pioneer
In the face of a global slowdown, Arif Amiri, senior director of Emaar properties explains why he thinks the UAE's real estate market can stave-off a recession and continue to grow.
When was Emaar established?
Emaar Properties, a public joint stock company listed in the Dubai Financial Market, was established in 1997.
What does your company do?
Emaar's focus is on creating integrated lifestyle communities offering an entire range of amenities to enhance community living. These include shopping malls, educational institutions, healthcare centres, and hospitality & leisure amenities. Emaar's portfolio therefore covers residences, commercial property, hospitality projects, shopping malls and educational institutions.
What is your role within the organization?
I am a Senior Director and work to align Emaar's policies, initiatives and growth strategies in line with our Vision 2010 to become one of the most valuable companies in the world.
Investor relations and corporate governance are the pillars of corporate accountability and transparency, and as such, my work also covers furthering stakeholder relations of Emaar and incorporating scientific and modern corporate governance principles.
My work also extends to formulating business development and international sales & marketing strategies in line with the company's corporate ethos.
What is the most challenging part of your job?
Emaar is one of the largest listed companies in the UAE and as a bellweather stock, Emaar's performance - not only economic but also corporate governance related - are keenly watched and even emulated by companies in the region.
Emaar is thus a trend-setter in corporate ethics and transparency, and in setting a framework for scientific investor relations.
Therefore every aspect of our job has to be carefully scrutinised, evaluated and applied, as the policies we make and implement become benchmarks for the corporate world in the region.
How do you differentiate yourselves from other companies?
Emaar is the pioneer of master-planned communities in Dubai, and has been the flag-bearer of the freehold era, whereby expatriates could own property in designated areas in Dubai.
Emaar's first master-planned community, Emirates Hills, set the trend for world-class residential communities, and today, the Emaar model of integrated residential clusters is widely followed in the region.
In the Dubai, Emaar has played a key role in the evolution of the property sector, which along with the construction sector today contributes to 24.1 per cent of the emirate's GDP. Emaar's approach to development truly sets apart from the rest.
All of our communities are integrated neighborhoods offering of the entire range of amenities. This holistic approach is at the core of the company and the brand that is Emaar.
What plans does the company have for expansion?
Led by Vision 2010, we have set out to become one of the most valuable companies in the world through geographic expansion and business segmentation.
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