Dubai, March 4, 2008: Union Properties has won the Mohammed Bin Rashid Al Maktoum (MRM) Business Award for Real Estate Development on March 4, 2008 at a ceremony hosted by Dubai Chamber. The Real Estate Development award has been introduced this year as part of the MRM Business Award categories. The awards follow stringent criteria for assessing the application focusing on the factors that lead to outstanding business performance, all done in an effort to recognize the successful companies that have contributed to the economic development of the UAE.

“Winning the MRM Business Award for Real Estate Development is a great honour for UP and an achievement that greatly reflects on our experience in property development, the passion we have for our work, the confidence our shareholders have in our projects and the dedication of our employees,” said Anis Al Jallaf, Chairman of UP. “The success and growth of UP over the past 20 years is greatly attributed to HH Sheikh Mohammed Bin Rashid Al Maktoum and the Government of Dubai’s infinite support for the private sector. This support has largely contributed to the economic development and diversity of city’s investment segments, making the property development market a key element of growth besides trade and tourism.

The MRM Business Award mainly concentrates on the performance elements in an organization rather than the excellence in the management of business. UP successfully fulfilled all the criteria for the award which have been developed and derived from the Business High Performance (BHP) Model, a unique comprehensive model that covers all the aspects of management and the mechanism of evaluating the participants’ performance. The model incorporates local requirements and a number of criteria with international standards. The judging panel includes international professionals who administer the business excellence awards in their respective countries and members from the GCC countries who are experienced business professionals.

“I would like to congratulate all the businesses recognized by this award and I extend my sincere gratitude to Dubai Chamber the organizers of the awards, for launching an impressive initiative that encourages best practice in business performance for the city of Dubai,” added Al Jallaf.

To win the MRM Business Award for Real Estate Development, the entrants had to be judged on outstanding acquisition of raw or improved land, or redevelopable property for the purposes of constructing building projects for sale or to be retained as assets to produce cash flow via rentals or other means. The process involves project management and execution with adherence to delivery schedules, working in liaison with the authorities for infrastructural development and for the development of communities with lifestyle themes, and with financial organizations for customer facilitation.

Reported By : Union Properties
Reported on : 04-Mar-08