Emaar: building a city of the future
(Norwich, UK, 07/12/2018)
Preently constructing the first privately owned city in the world is no mean feat, yet property giant, Emaar Properties is taking such a challenge in its stride. With more than half of the Saudi population subscribing to become part of this new city, the company is under significant pressure to deliver.
Situated close to the Red Sea, the new city, named King Abdullah Economic City (KAEC), has spans an impressive one million square metres and is home to 35 tourism projects and a world-class seaport. Securing cash and credit from the Capital Market for the next decade, up to 120 companies presently work within the region’s Industrial Valley, with international names such as Mars, Ikea and pharmaceutical giant Pfizer placing firm roots in the city.
However, to ensure the development maintains its momentum, Emaar has had to undergo a significant transformation to enhance its procurement and supply chain capabilities.
“We are moving into the partner phase where a lot of CEOs have procurement officers to help them get better economy of scale, leverage business and find new technologies. We've moved over the years from followers to leaders, but in the Middle East there are still a lot of followers,” explains Senior Director, Hesham Elabd.
“To tackle our challenges, we undertook a six-strategy plan. In 2015, our organisational engagement survey rated procurement at 44%, but last year it jumped to 84%. Our guys last year won a customer experience award. Customer satisfaction has also reached 70%. People are now writing long term sourcing strategies as we know where we are heading.”
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