Emaar Properties has appointed global consultancy firm KPMG to work on the structure and strategy for the new bank to be launched later this year. Emaar has also contracted Landor Associates, one of the leading global corporate identity firms, to work on the bank's branding program.
The new bank will offer a range of products and services to both individual consumers and companies and will gradually create and then expand a branch network throughout the United Arab Emirates (UAE). The vision for the bank is to become a catalyst for growth and innovation in the UAE banking industry as well as in the region as a whole, according to the new bank‘s CEO Ahmed Bin Brek.
Emaar Properties, a public joint stock company listed on the Dubai Financial Market, currently has five major real estate projects under development. The new bank is part of Emaar's core real estate focus, which aims at optimizing the investment of group resources, while actively diversifying the sources of its revenues, according to a company press release.
The new bank is expected to be a main source of income and profits at a time when Emaar continues to actively pursue expansion in its core business of innovative, high quality real estate development.
KPMG Consulting serves over 2,500 clients globally, including 280 of Fortune Magazine's Top 1,000 companies and 60 of Fortune's Top 100 companies. KPMG took the lead among the Big Five consulting businesses and became the first completely independent public consulting company a year ago.
Landor Associates is one of the world's leading branding and design consultancies. Founded in 1941, Landor pioneered many of the research, design and brand consulting methodologies that are now standard in the global branding industry. Landor operates in the Middle East through its office in Dubai. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
