Vision 2010

“Anyone who does not change the future will stay a captive of the past.” We are truly grateful for those words of wisdom from His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. He has illuminated the path forward for Dubai with his visionary leadership and inimitable courage, energy and determination. His words are the true inspiration for our vision for Emaar, Vision 2010. in his words, Emaar must not stay a captive of the past. We must change the future.

Vision 2010 reflects a quantum leap for Emaar from being the world’s Number 1 real-estate company by market capitalization today to becoming one of tomorrow’s most valuable companies in the world, beyond real estate. To actualize this change, we must achieve a revolution in Emaar’s people and processes as well as global benchmarking of deliverables. The cornerstone of this change, however, remains our commitment to achieving global standards in corporate governance.

We are pleased to announce the formation of a Corporate Governance Advisory Council to take the lead I establishing a framework of sound and effective policies, rules and practices to govern the relationship of our stakeholders – managers, shareholders, employees, suppliers, customers etc. – and to enhance Emaar’s risk management and internal controls systems so as to better deliver shareholder’s value through continued growth and financial stability. Members of the Advisory Council will include Emaar representatives and well-known international and local financial and business personalities experienced in the issues and trends in global corporate governance.

This marks another critical milestone in the continued growth and development of Emaar’s globalized business. The increasing diversity both in terms of the nature of our business as well as its geographical spread will continue to put pressure on our processes and procedures. The formation of the Advisory Council is a totally voluntary initiative proactively taken by the Board to ensure the sustainability of the integrity and financial stability of our businesses which underpins shareholders’ and market confidence. This pioneering initiative aims to develop international benchmarks for corporate governance policies, rules and practices with defined codes of best practices and ethical standards that will be a beacon to progressive corporations and institutions in the region.

Our goal is to make Emaar one of the most valuable companies in the world. To do that, we must clearly take the lead from His Highness Sheikh Mohammed. We cannot wait for things to happen. We have to make things happen. And we cannot afford to take small steps towards our goal. We must run at maximum speed. To become one of the world’s most valuable companies, what we need to achieve for Emaar is not Evolution. It is Revolution.