Real Estate Management Essay
Determine appropriate real estate strategies including portfolio construction for each type. It is suggested you select a single organisation for in-depth analysis SECTOR: – Local Authority: – Department of Naturalisation & Residency Dubai (DNRD) Introduction Dubai has a very unusual fact that its population comprises mainly expatriates, with the UAE nationals called Emiratis constituting the minority.
A vast majority of these expatriates come from South Asia and South East Asia. The UAE Government does not allow any form of naturalisation or permanent residence to expatriates. The ministry of interior through the Department of Naturalisation & Residency (DNRD) and its various offices and establishments has complete control over the issuance of visas with permit entry and residency in Dubai and the UAE. Today DNRD stands with a vision of offering innovative services that will enhance security, stability, sovereignty and contribute to a sustainable development.
The aim of the group is to analyse DNRD with respect to real estate management and its strategies. History The archaeological discoveries suggest that as long has 4000 years ago small fishing community lived along the coast of Arabian Gulf on the site what is known today has Dubai. In 1833 the Al Makthoum dynasty of the Bani Yas tribe left the settlement of Abu
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Under the rule of H.H.Sheikh Saeed Bin Makthoum from 1912-1958 followed by his son H.H.Shaikh Rashid Bin Saeed Al Makthoum for about 30 years the town of Dubai developed to a great extent to a modern state with excellent communication and industrial infrastructure and all comforts of contemporary life with large projects like Jebel Ali Free zone, World Trade Centre & Dubai International Airport being sanctioned. In 1971 when the British left the Persian Gulf, Dubai together with Abu Dhabi and 5 other emirates formed the United Arab Emirates.
Background The inception of DNRD took place in October 1971 started by the late H.H.Shaikh Rashid Bin Saeed Al Makthoum with two departments established. 1. Central Immigration Department. 2. Ports and Borders Department. In October 1972 the above departments were joined to Ministry of Interiors and Federal Law no. (17) to regulate naturalisation and passwords. 1. Office of central immigration department was situated in Deira side, cornice road at Al Mullah Building 2. The two departments consisted of two offices for public transactions and a flat on the mezzanine floor for filing.
In 1973 Federal Law no. (6) concerning immigration and residency was promulgated has a first law regulating the entry and residency of expatriates in UAE. The central administration became the authority in charge for implementation of permits. The administration shifted to a 3 room office consisting of following: 1. Room for the administration. 2. Room for control section (monitoring and investigation). 3. Room for entry permit section and residency section. In 1977 two buildings with boundary wall were built for residency transaction and entry permit transaction along with ports and borders department. Being a public sector the DNRD’s real purpose in acquiring land is for its operational purpose. Since it’s a government body there is no investment in the purchase of land.
To be positioned centrally so as to cater to the general public and be easily accessible by way of public transport with large available open space for parking facilities. To be also situated in close proximity with other government buildings, consulates to help the public in their accessibility for documentation purposes. Today E-governance has taken a key role in reducing the amount of paper works for the visa process by making it accessible to all through the internet & telecommunication.
The DNRD office is located at Jafflia over an area of 250000 sqm. It is strategically placed at the centre of developing Dubai with Deira, Bur Dubai on one side holding most of the government buildings and consulates in close proximity. The major artery road, Sheikh Zayed Road lies on the south west side of the plot adjacent to Trade centre. The proposed metro station is right opposite the Immigration building connected by a pedestrian walkway.
The current site is easily accessible by private as well as public transport systems connected from all corners of Dubai. Corporate governance policies are an essential element of the baseline practices necessary for companies to operate successfully. It defines the rights and responsibilities of the Del Monte Fresh Produce companies and their boards, auditors and shareholders and explains the principles and procedures underlying corporate life. The shareholders’ role in corporate governance, among other things, is to appoint directors and ratify the annual appointment of the company’s independent auditors. The Board of Directors is responsible for establishing broad corporate policies and for overseeing the overall. The Board of Directors also sets the tone for ethical business conduct.
To be the world’s number one fruit and vegetable producers and distributors. To effectively implement this strategy the company has either acquired small competitive business ventures or set up distribution centres at strategic locations to help cater to the ever increasing demands of its products. Real Estate Strategy (for Del Monte Fresh Produce in U.A.E) For their very existence the company needs a suitable area for setting up operations. Hence property for them is majorily for operational purpose. The need might arise in the future to shut operations at one centre and shift base to a more fruitful locality.
Here the company might decide to sell some of its land to generate some revenue. So we cannot rule out land for investment purpose too. The company has purchased warehouses at important ports and also set up storage, processing and distribution centres close to Fruit and Vegetable markets in the emirate. The corporate team would always lease out property for its functional requirements which would help them to relocate to any other place (if the need arises)
Geographical Location (for Del Monte Fresh Produce in U.A.E) To actively participate in the rising demand for business opportunity in the Middle East, Sharjah was selected as the base for operations. It had set up three storage, processing and distribution centres at strategic locations between1976-1980. The first base was set up at Industrial area No.1. With its close proximity to the Main vegetable and fruit market in the city, this was ideal. To support its increasing demand two more centres were set up at Industrial area No. 2 & 5, which is operational till date and running smoothly.