Doha, 3rdJanuary 2012-Barwa Real Estate recently conducted three days workshops attended by the Senior Management of Corporate, Subsidiaries, Associates and investments to review and discuss the 5 year Business plan 2012-2016 and the implications for the budget for 2012. The sessions were chaired by Abdulla Abdulaziz Al Subaie, Group CEO. Barwa recently announced its new corporate strategy and growth plans that are built on disciplined and sustainable growth. The five year Business Plan 2012-2016 is shaped by this strategic direction and growth strategy and sets out the priorities and specific initiatives required for execution of the corporate strategy.

Opening the first day of the workshop, Abdulla Abdulaziz Al Subaie, Group CEO said "The 2012-2016 Business planning process set the tone for various independent and collective strategic initiatives at the corporate and at the business unit levels to achieve Barwa's strategic priorities and goals. The main objective of these workshops is to ensure that the plans of every entity in our portfolio align with the corporate strategy".

Driven by a set of investment and financial assumptions which are guided by the market insights and challenges, the business plan describes the various strategies to deliver the priorities. It also established the corporate KPIS (Key Performance Indicators) and targets that will measure success in executing the corporate strategy.

The key highlights of this year's business plan are:

  • Profitability and operating Cash flow to improve from the previous business plan.
  • Company's leverage ratio (total liabilities to net equity) to reduce compared to the current levels, that demonstrates company's commitment to focus on improving the financial risk and the capital structure.
  • The plan envisages new investments in local Real Estate developments in line with the corporate strategy to capitalize on the infrastructure and growth plans in Qatar.
  • The plan considers opportunistic monetization of assets/stakes to unlock the embedded value and to release cash flow.
  • Successfully executing and delivering the Projects though establishment of "Barwa Operational Excellence" process and effectively monitoring its implementation is the primary focus on the Real Estate developments.
  • Governance, Risk Management and creating synergies are primary areas targeted for continuous improvement.
  • Administration, Commercial and Finance functions are being centralized for the local Real Estate projects and subsidiaries which are in establishment stages.
  • Identification and implementation of cost optimization initiatives have been given priority for each portfolio and support functions as part of our strategy to maximize profit by effectively controlling costs.
  • Development of human capital and quality qatarization of jobs through performance based career enhancement opportunities continue to be a high priority in line with BARWA's commitment to serve the future of Qatar and to be part of the Qatar National Vision 2030.
  • Strategy Management Process being initiated with effective set of key performance indicators cascaded across the Business portfolio and support functions to ensure that the objectives and strategies set by the business plan are implemented in line with the expectations of BOD and investors.

The Business plan & budget reviews resulted in setting number of action items mainly aimed at creating cross business synergies, cost efficiencies and achieving stable occupancies for the Real Estate projects.

During the workshops, the Group CEO also stressed the importance of enhancing the stakeholder communications and requested the management team to conduct regular team reviews of the business plans. The progress of the initiatives set out in the business plan will be reviewed during the corporate performance reviews scheduled to take place every quarter as set in Barwa's annual corporate calendar, an initiative under the new corporate strategy

Abdulla Abdulaziz Al Subaie also, conveyed his thanks and appreciation to the Executive Management and all hard working employees of Barwa for their dedication and hard work.

-Ends-

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