By Staff writer
Chairman Mohamed Alabbar announces new start-up initiative to foster ideas from younger staff
Emaar chairman Mohamed Alabbar has announced a new start-up initiative within the construction giant to foster ideas from some of the younger staff.
Alabbar presented e25 during a talk to more than 80 students at the prestigious Harvard Business School in Boston.
He said in a statement that e25 is a team of 25 under 25-year-olds that will "bring a new engine of ideas and innovations" to the company and shape its future leaders.
Alabbar did not give any further ideas but shared his strategic outlook for the company with the Harvard student and highlighted its digital transformation.
“This is the era of digital transformation for Emaar. Across all aspects of our operations we are leveraging the potential of digital technologies to enhance efficiency, productivity and customer service standards. Today’s era is defined by how agile, flexible and responsive we are not only to the demands of customers but also to a shifting market landscape,” he said.
Alabbar's talk comes after Harvard Business School senior lecturer Sid Yog selected Emaar as the subject of a case study for his second-year elective MBA course Investing in Emerging Markets.
The case evaluates how Emaar addressed the challenges of the global financial crisis and the tough measures that Alabbar put in place to steer the company to become "the only real estate developer in Dubai to have continuous positive returns during the global financial crisis".
During his visit to the Harvard Business School campus, Alabbar said: “Our founding vision was to shape the future through our pioneering model of integrated master-planned communities.
"Today, we have defined the future of cities through our world-class developments that not only deliver a sense of belonging to residents but also catalyse local economies. We have always focused on long-term value creation for our stakeholders and we consistently deliver on our promise.”