Tuesday, June 30, 2009

When Opportunity Knocks, We Need to be Ready

Today, more colleagues have to bid goodbye. My time will come very soon. Time to be really realistic and logical. Nothing much can be done.

A CEO of a big developer wrote:
The key questions on everyone’s lips at the moment are: “When will the worst be over?” “When will we start to see signs of a recovery?” ”Are things starting to pick up?”

Even in the last few weeks, there has been talk that house prices are starting to go up again, that rental values are easing, and that retail outlets are reporting increased trade again. Could it be that we are really turning the corner that at one time seemed so far down the road?

I am not one for predictions. If I were, then I would be in the wrong business. However, what I do know is that the answer is definitely something we can all influence. We are the ones, today’s working army that will ultimately influence when the worst will be over. We need to get out and continue to do our best and get the global engine to full speed again. Worrying or feeling scared, whilst totally natural reactions, should not develop to a stage where they completely dictate our behaviours or instincts.

There is a mega merger going on in Dubai,

The assets under management by these holding companies are considerably more meaningful, but no easier to value.

Emaar has said that the combined companies will have assets worth a total of $52.85 billion. Not $52 billion, not $53 billion, exactly $52.85 billion - precision that suggests real mathematics and accounting is involved.

In its current trading statement, Emaar says that its assets are valued at $16.5 billion. The combined total for Sama, Tatweer and Dubai Properties is therefore $36.35 billion.

The value of Sama, Tatweer and Dubai Properties assets are therefore priced at more than double the value of Emaar’s assets.

My employer has just announced another restructuring exercise, the whole company is now didvided into 2 divisions, development and infrastructure/asset management.

However, time does not wait for anyone, when opportunity knocks, we need to be ready and move on.

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