DPG implements corporate governance strategies
RERA called in to train staff following new real estate regulations
Dubai Properties Group (DPG) has begun to take steps towards implementing corporate governance strategies in collaboration with Dubai’s Real Estate Regulatory Authority, RERA.
Announcing that employees recently received training on the ‘Code of Corporate Governance’, from RERA, DPG says it is the first real estate company to do so, following the recent issuance of laws and policies aimed at improving transparency, and regaining investor confidence in Dubai’s troubled real estate market.
“We are proud to be the first real estate developer in the UAE to implement this code across the board. At DPG we strive to constantly work with RERA on all initiatives that will help the real-estate industry as a whole,” said Khalid Al Malik, Group CEO, DPG.
RERA conducted two workshops on the new code exclusively for DPG on December 7 and 8. The authority said the course highlighted a “changing corporate governance landscape and practices in relation to the real estate sector”, in addition to focusing on strategic issues.
“The real estate environment in Dubai has reached an advanced level of organisation that has made it more attractive to potential investors,” said RERA CEO, Marwan Bin Ghalitha.
“It is important for any real estate company to be up to date and transparent with practices in order to remain competitive and successful. The launch of this program will ensure that all developers and agencies alike will be aligned with RERA’s regulations and guidelines so as to provide a clearer picture to the end investor. We encourage other developers to follow in DPG’s footsteps to ensure the local real estate sector adopts international best practices,” Ghalitha added.
