(MENAFN- Khaleej Times) Dubai properties group (dpg) on wednesday announced its future vision and strategy which will see the group transition into a holding company with the ownership of three companies
The companies will each be responsible for project development portfolio management and asset management. the new business strategy was formally approved by the dpg board of directors who emphasised its importance for the group’s growth and ability to capture current market opportunities.
Abdulla al shamsi chairman of the dpg board of directors said: “a thorough market study and understanding of the group’s strengths along with the current opportunities in the market were behind the new strategy and the transition into the holding company. we are confident that this strategy will give dpg the flexibility to take advantage of the market opportunities while maintaining its focus on developing world class destinations real estate projects and property and asset management.”
The newly formed dpg holding company will be led by group chief executive officer khalid al malik and it will be responsible for delivering the strategy and vision of the group to ensure continued support for the long-term development of dubai through its flagship destinations and districts. dpg will also be tasked with spearheading corporate innovation and growth with a clear remit to oversee urban and infrastructure planning.
As part of the new strategy dpg will have under its umbrella three independent companies responsible for implementing dpg’s over arching strategy and vision — dubai properties will be tasked with developing dpg’s bts portfolio including project development sales and customer service and handover management; ejadah will continue to provide facilities management property management and security solutions for both the public and private sectors; and a new dedicated portfolio management company masat will be responsible for btl portfolio management across dpg’s destinations and districts including land leases retail and mall management.
— business?khaleejtimes.com
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