Dubai’s largest developer Emaar Properties is setting up a new startup e25, a business to be run by millennials that's hoped will take the company to “new heights”.
In October 2016, Mohammed Alabbar, Emaar chairman, first announced the plan to establish the new entity, with a view to capturing the next wave of new ideas and innovations.
“In my own company, we are establishing a new company now to be manned by 25 boys and girls. One rule: below 25 [years of age],” Alabbar told the Dubai International Project Management Forum.
The concept is turning into a reality, with the Dubai-listed property developer now seeking applications to select 25 millennials to manage and run the startup.
“A diverse team of 25 ‘future leaders’ under the age of 25 will establish and manage a new start-up to take the performance of Emaar to ‘new heights’,” according to the 'e25' brochure on its website.
“e25 needs to “think out of the box; challenge old ways; bring passion and creativity; boost collaboration and capture voice of the youth,” it said.
It also emphasised the need for e25 to “act like owners and deliver high impact initiatives; think bold and make mistakes; gain experience and grow; drive disruptive innovation and have fun; and build a self-sufficient start-up in the short-term.”
“Passion, professionalism, creativity and humbleness” are some of the criteria listed in the e25 brochure, with the online application form allowing all nationalities to participate.
Arabian Business has approached Emaar for a comment. A spokesperson said there were no further updates at this stage.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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