DREC contracts PwC to develop strategy
Dubai , November 1, 2007
Dubai Real Estate Corporation (DREC) has recently signed a contract with PricewaterhouseCoopers (PwC) to assist the corporation in developing its strategic framework.
The ourpose of the deal is to rationalise DREC’s current base and setting out clear priorities to allow the Corporation to build value in its asset portfolio in the short, medium and longer term.
DREC has commissioned PwC to draw up the strategic framework within six to eight weeks. This will include facilitating a strategic workshop to assess the Corporation's current capabilities and identify ways to optimise the allocation of its resources in the short term.
Hisham Al Qassim, chief executive officer of DREC, said: “Dubai Real Estate Corporation wants to set out a clear path that will build value in its existing and future portfolio of real estate assets as well as prioritising commercial opportunities to further develop its asset base.”
“PricewaterhouseCoopers is renowned for the delivery of highly effective advisory services and we are confident that it can facilitate the development of a structured strategic framework for DREC. Our association with PricewaterhouseCoopers will ensure that DREC builds from a position of strength and achieves its long term targets for growth in asset value with a clear emphasis on sustainability,' added Al Qassim.
Sharat Seth, partner of advisory services at PricewaterhouseCoopers commented: “We are very pleased to be associated with the Dubai Real Estate Corporation to assist in defining its long term strategic framework and organization structure. We believe that this will help create a strong foundation to support DREC's growth in the future.'-TradeArabia News Service