Emaar holds the final session of special virtual conferences with key stakeholders
Contractors in the UAE must prepare for 'a new normal' as the country experiences economic challenges due to the coronavirus pandemic, Emaar chairman Mohamed Alabbar said in a series of virtual conference calls with key stakeholders.
They must reconsider their productivity and efficiency as the economy begins to pick up in line with the easing of Covid-19-related measures, he said.
“None of us have faced anything like this before, and as we work together I am confident that as a company and a country we will come out of this crisis. But we must now prepare for a new way of working. There is a new normal, a new dawn, that awaits us.
“Together, we must look closely at our systems, our productivity, our efficiencies, our technologies. This is the time for us to take stock not just of our great achievements in the past two decades, but how we can continue to develop the UAE’s world class infrastructure, communities and cultures," Alabbar said.
He committed to meeting with contractors once every three months, and said he would help "protect" them during this crisis.
“You have grown with us on this incredible journey as true partners. Now is the time for us to protect you in any way we can, and make sure that both of us are in a strong position to benefit from the recovery that I am certain will come," he said.
DFM-listed Emaar Properties is a one of the world’s largest real estate companies, with a land bank of 1.6 billion sq. ft in the UAE and international markets.
Since 2002 it has delivered over 56,000 residential units in Dubai and around the world. Its current pipeline of developments includes residential and mixed-use projects such as Dubai Hills Estate, Dubai Creek Harbour, Mina Rashid and Emaar South.
Today, 46% of its revenue comes from its shopping malls & retail, hospitality & leisure and international subsidiaries.