Dubai Holding completes phase I revamp
Dubai, August 22, 2009
Dubai Holding announced that the first phase of the company’s restructuring program has been completed with the formation of two verticals, Property and Business Parks.
The formation of these two verticals is the first step in executing the full realignment into four verticals, as announced recently, in order to streamline its operations, according to a company statement.
The verticals allow Dubai Holding to build on its core competencies in two major specialisations and effectively bring together complementary assets across the business, allowing access to greater benefits for customers. Existing project plans will remain in place.
The Property vertical integrates and leverages the strengths and portfolios of Dubai Properties Group with Sama Dubai, as well as Tatweer’s real estate development projects including Remraam, The Tiger Woods Dubai, Dubailand and Bawadi, to create one of the largest real estate and development based businesses in the region.
The Business Parks vertical integrates the existing operations of Tecom Investments with Dubai Healthcare City and Dubai Industrial City, thus expanding the focus of the development of innovation in information, communication, media and knowledge to also include healthcare and industrial development.
“The process of realignment has led to the development of Dubai Holding into a more efficient organisation, able to respond more effectively to the needs of its stakeholders,' stated Ahmad Bin Byat, CEO, Dubai Holding.-TradeArabia News Service