Dubai: His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has put the spotlight on the UAE’s economy, the real estate industry and the Emiratization policy in a letter released earlier on Saturday.
Economic competitiveness
"Economic figures are in progress, our competitiveness is improving and our foreign trade is increasing. However, we are not moving according to the average economic rates,” wrote Sheikh Mohammed.
"We are a country seeking to make economic leaps that save. In the coming period, we need to do quality projects and exceptional ideas to advance our economy forward.
"Real estate projects need to be revamped to bring added value to the national economy and so as to not to become a burden and a source of imbalance in our economic process."
The tips on how developers should choose real estate projects were part of a six-point message that also touched the topics of social media, and the importance of government officials to engage with the public.
Arif Mubarak, CEO of Dubai Asset Management, praised the message from Sheikh Mohammed’s “Letter of the New Season” and noted that real estate in Dubai has always been, and continues to be, a key driver in the economy.
“We believe, in a city of over 190 nationalities, the role of real estate is not only transactional but also essential in helping people call Dubai home. As owners and managers of one of the city’s largest portfolios of rental residential communities, we have found that continuous innovation and customer centricity are integral for the success of our sector and the happiness of our residents, a key goal outlined by our wise leadership,” said Mubarak.
“As such, incorporating smart solutions across the customer journey through partnerships with Smart Dubai, ongoing enhancements of our communities and creating a true neighbourhood feel through events and our community engagement program “#Neighbourgood”, enables us to constantly upgrade our offering and meet the needs of our 100,000 residents,” he commented.
John Iossifidis, CEO of Noor Bank, said the statements made by Sheikh Mohammed are extremely relevant to all officials and business leaders – especially those in the banking sector.
“The banking and finance sector depends on clients’ trust. To this end, delivering outstanding customer experiences through innovative product and service offerings is absolutely essential. As a leading Shari’ah compliant bank in the UAE, we are ready for the ‘New Season’ and are leveraging our values of excellence, innovation and agility to transcend the boundaries of traditional banking to make a meaningful impact on our nation’s economy.”
Jerome Droesch, CEO of Cigna MENA – a global health service company – said the UAE has always been a forward-thinking economy that has inspired generations of businesses, both locally-born and international, to deliver their best to the people.
“It is a nation that has set the bar high on quality and innovation and continues to do so by constantly challenging its boundaries. At Cigna, we have welcomed a dynamic business environment in the UAE and have made it our priority to deliver solutions that improve the health, well-being and peace of mind of the communities we serve. We are strongly aligned with the country’s vision to push the economy forward and will continue to deliver quality tailored solutions to its people.”
Jamal Al Jassmi, general manager at the Emirates Institute for Banking and Financial Studies (EIBFS) told Gulf News that the message was issued at a time as the nation seeks diverse ways to build the economy, and explained how the banking industry plays a key role in its development.
“We have witnessed steady economic growth here in the UAE. Sheikh Mohammed Bin Rashid’s comments come at a time when we are looking for more ways to further build the economy. As a nation, we are creating opportunities that aid major economic leaps and the leadership’s vision to achieve that. As an industry, banking and finance is a major contributor to the growing economy. EIBFS is happy to be able to play a pivotal role in contributing to the nation’s talent pool that not only works towards building a better banking and finance environment but further supporting the UAE’s economic development.”
Emiratization is a top priority
"We have noticed growing complaints with regard to Emiratization and we do hear it. The level of people’s satisfaction when dealing with officials has also declined. We are observing that.
"Providing jobs for Emiratis was and will remain a top priority. Like other states in the East and West, we will closely follow up this issue and will hold accountable those negligent — and there will be new decisions as well,” said Sheikh Mohammed.
Al Jassmi commented that the nation’s development of Emirati talent in various industries has undoubtedly grown due to the country’s Emiratization policy.
“The UAE’s leadership has always supported and encouraged Emiratization by introducing measures to ensure its implementation. Over the years, we have seen the local population contribute immensely across various sectors. Banking, as an industry, has been one of the largest employers of the local population. At EIBFS, we ensure educational upskilling of Emiratis by providing courses and trainings that make the individuals more employable. With Sheikh Mohammed Bin Rashid’s guidance, we are confident that the nation will witness more and more local talent across sectors,” said Al Jassmi.
Roadmap
Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (Dewa), said: “The messages from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to citizens and officials in the UAE, are a roadmap for us in all our efforts to achieve the vision of His Highness to strengthen the competitiveness of the UAE Government.
We take our customers’ happiness very seriously, and we will continue to do so, for generations to come.
"The UAE has become a benchmark for governments seeking to improve their performance and achieve the happiness of their people,” said Al Tayer added.
“Dewa has a robust procedure in place along with a dedicated team to monitor and respond to customers through media channels as soon as possible.
"For example, in 2018, 100% of all customer complaints aired on media were resolved in a timely manner, depending on the nature of the issue.
"Dewa has maintained its top position in the Happiness Index in the large Dubai Government Entities category for the second consecutive year, with a 95% happiness level according to Smart Dubai’s Happiness Index.
"Dewa has also been ranked first for getting electricity for the second year in a row by the World Bank’s Doing Business Report 2019. We take our customers’ happiness very seriously, and we will continue to do so, for generations to come.”
