Title assignment : SBM Coursework Assignment 1 – Strategic property policy plan
Name module/course code : BUILDING MANAGEMENT
Name Tutor : Peppijn van Schoonhoven
Name student : Jorden van Ramshorst
Full-time / Part-time : Full-time
Greenwich student nr. : 001278544
Saxion student nr. : 532393
Academic year : 2023-2024
Date : 15-02-2023
Word count : 4236 total (3048 without Sources & Appendixes).
Table of Contents
Executive Summary............................................................................................................2
Introduction of Meraas......................................................................................................3
Corporate Strategy.............................................................................................................5
Theoretical Framework......................................................................................................5
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,Current Corporate Strategy................................................................................................6
Vision of Meraas:..........................................................................................................................6
The mission of Meraas..................................................................................................................6
Objectives.....................................................................................................................................6
Future Corporate Strategy..................................................................................................6
Real estate strategy...........................................................................................................7
Meraas CRE SWOT Analysis..........................................................................................................9
Trends..............................................................................................................................11
Strategic Optimization Program.......................................................................................13
Sources:...........................................................................................................................15
Appendixes......................................................................................................................17
10P’s Model (Explained more broadly):......................................................................................17
Executive Summary
This strategic property policy plan is based on Meraas’s most recent strategic policy
plan (Meraas, 2023) and the Code of Conduct and reports by Dubai Holding (Parent
Company), (Dubai Holding, 2023).
To maximize the benefits of corporate real estate (CRE), it's crucial to have a
strategic property plan that aligns with the company's mission and objectives.
Meraas has developed a CRE strategy based on the 10P CREAM model and current
trends, resulting in a program for strategic optimization (Haynes, 2012).
The main findings, related to the trends, are:
Consumer behavior: Stay updated on consumer behavior trends in Dubai by
measuring the satisfaction of current tenants and implementing changes.
Technology advancements: Consider the latest innovations in the real
estate industry and cooperate with companies like Smart Dubai to fulfill future
community needs.
Economic conditions: Diversify the real estate portfolio by acquiring more
hospitality real estate and adapting to increasing tourism in Dubai.
Environmental sustainability: Implement circular building practices and
reuse buildings instead of demolishing them. Leverage existing sustainable
innovations in Dubai.
Demographic shifts: Develop sustainable retirement villas and apartments in
quiet neighborhoods to meet future demand. Keep in mind the trend of
dividing the city into different areas for retirement, low-cost, tourism, business,
and integrated neighborhoods.
To achieve optimal productivity and performance, corporate and CRE strategy
alignment is crucial. As CRE is inflexible in the short run, it's important to take
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, appropriate actions now to safeguard high-quality education for the future. Options
for better alignment include:
Cooperating with knowledge and innovation companies to create value for
future communities regarding their developments.
Investing in unique outstanding hospitality real estate, which will be
contributed by the future tourism boom in Dubai.
Investigating the needs and consumer behavior of the future communities that
will invest and live in Dubai regarding the aging population.
Redeveloping and making their current real estate portfolio circular and
sustainable for the future.
Introduction of Meraas
Meraas is a conglomerate founded in 2007 by Chairman Sheikh Ahmed bin Saeed
Al Maktoum and is a subsidiary of Dubai Holding, an investment holding company
owned by the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum (Meraas,
2023). With a real estate portfolio comprising property development sales and asset
management across Dubai, Meraas has launched several projects in various
sectors, including real estate, retail, hospitality, food and beverage, leisure and
entertainment, and healthcare, and is part of the Dubai Holding Real Estate (Dubai
Holding, 2023).
Dubai Holding, which is state-owned and has more than 20,000 employees, acquired
Meraas in 2020. According to LinkedIn, Meraas currently has a total of 1,013
employees, with 700 employees working across the various industries mentioned
above (LinkedIn, 2023). The remaining employees are distributed across marketing,
IT services and consulting, education administration, government administration,
advertising services, accounting, oil and gas, wellness and fitness services,
architecture and planning, technology, business consulting and services,
transportation, logistics, supply chain, and storage, retail apparel and fashion, food
and beverage manufacturing, and travel arrangements.
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