Business | General

'Corporate governance very solid'

Abu Dhabi's real estate developers say they are clean and transparent and are backed by solid corporate governance laws that don't leave room for malpractice or corruption.

  • By Himendra Mohan Kumar, Staff Reporter
  • Published: 23:21 August 18, 2008
  • Gulf News

Abu Dhabi: Abu Dhabi's real estate developers say they are clean and transparent and are backed by solid corporate governance laws that don't leave room for malpractice or corruption.

The developers were responding to queries about instances of corruption in their companies similar to those unearthed in Dubai.

"Our corporate governance is very solid," Ronald Stephen Barrott, CEO of Aldar Properties, the emirate's largest property developer by portfolio, told Gulf News.

A spokeswoman for Sorouh, another major real estate company, said the company is publicly listed and is completely transparent in its operations.

"We are a very transparent company. There are definitely no instances of any malpractice or corruption within the company that I know of," she said.

Dr Sulaiman Al Fahim, CEO of Hydra Properties, scotched rumours that some Hydra executives are under investigation for illegal selling.

"None of our employees or board members are under investigation. We follow the latest international corporate governance laws and have the highest levels of transparency," Al Fahim said.

"We have a code of ethics which all our employees have signed. In Dubai, we have a legal status with the Dubai Land Department. As far as I know, none of the Abu Dhabi real estate developers are under investigation," he added.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

Related Articles

  1. Corruption fight 'will spare no one'

    Corruption fight 'will spare no one'

    Battle against corruption 'will spare no one regardless of rank'

  2. 'Corporate governance very solid'

    'Corporate governance very solid'

  3. Dubai's economic growth rests on good governance

    Dubai's economic growth rests on good governance

    Dubai's economic growth rests on good governance

  4. Crackdown on corruption

    Crackdown on corruption

    Dubai government reiterates commitment to crackdown on corruption

  5. Business leaders laud initiative

    Business leaders laud initiative

  6. Corruption and lack of transparency remain key challenges

    Corruption and lack of transparency remain key challenges

  7. UAE lawyers welcome move

    UAE lawyers welcome move

  8. Investors dump Tamweel stocks

    Investors dump Tamweel stocks on news of arrest

  9. Call for better fiscall reporting, stringent audits

    Analysts call for better financial reporting and stringent audits

More from Business General

  1. Murdoch to block Google from indexing

  2. Emke plans four more Saudi hypermarkets

  3. Dubal celebrates 30 years of industrial progress

  4. Discussion on real estate issues held

All articles in General

More from Business

Gulf News
Popular in Business
Way to go this DSF
XPRESS

Way to go this DSF

A fun-filled route to guide you to all the happening dos in town

Business Editor's choice