Abu Dhabi-based property development company Aldar Properties has introduced a new group operating model, which allows the parent company to position itself above its main development and investment businesses.
The new group operating model will focus on improving customer service, digital transformation, operational efficiency, and sustainability.
The company said in a statement that the new model “promotes agility and accountability throughout the organization, with two core firms; Aldar Development and Aldar Investment.”
Talal Al Dhiyebi, Aldar’s group chief executive said, “The new group operating model reflects Aldar’s growth and maturity and builds on the robust governance and exceptional talent we have on board. The diverse and dynamic business we are today requires a more agile operating model that will enable our next phase of growth.”
“This is a very exciting moment for Aldar and a very positive step towards the creation of a more sustainable future for the company. Our strategy is clear, placing our people and customers at the heart of everything we do while remaining at the forefront of sustainable development, digital transformation, and operational excellence. Guided by this strategy, the two entities will be able to make the right business decisions at the right levels and will contribute to Aldar’s commitment to creating value for all our stakeholders.”
Jonathan Emery will lead Aldar Development, which is responsible for developing the company’s 75 million square meter land bank. It will have three subsidiaries and they are Aldar Projects, Aldar Ventures, and Aldar Egypt.
The project arm will be responsible for the delivery of the company’s own communities and its fee-based development management services, including the $12 billion (Dh45 billion) worth of government housing and infrastructure projects.
Aldar Investment, headed by Jassem Busaibe, will be responsible for managing it’s $5 billion (Dh20 billion) portfolio of recurring income assets. Its subsidiaries include schools business Aldar Education, Aldar Hospitality and Leisure, and a new Aldar Estates business.
Moreover, along with overseeing both firms, the Aldar group will control corporate functions such as policy, finance and sustainability, people, legal, audit, and operations.