Roadking

So, anyone know of any jobs then?????

Foxes

have heard whispers of more staffing changes at Aldar as of this week.....looks like these are tough times indeed...anyone have any concrete info ?

Grace O Malley

I have a couple of good friends at Aldar who have been there since the start up, a lot of nervous people there at the mo. It appears a complete re vamp of the organizational structure is under way.

I have always said that they did not use their cash wisely, massive over inflated salaries, benefits, bonus schemes etc that was never going to be sustainable.

Poor Management IMHO, feel extremely sorry for the staff who have shifted out here with their kids.

soukie

Yes - I've heard whispers too ! Seems they may have problems with cash flow - maybe too much has flowed into one of their JV's but there has been detailed discussion on this before on another thread already. As Grace says it's a shame for all the families involved - they will have to uproot kids from school while the majority of the poor management stay in post and continue to award themselves large bonuses.

Tockalosh

ag what goes around comes around

There were plenty of Aldar staff walking around without a care in the world at Raha beach and looking down on the ALOR staff during the 6 month termination debacle.

Witnessed it personally a number of times

So now perhaps some will learn a little humility.

Hope that doesnt sound bitchy because it isnt meant to be and I wouldnt wish the stress and hassle of up rooting family back to, from wherever they came upon anyone

lanarkwitch

ok here's one for you, on but off topic, I've said a million time before there were a lot of people here getting paid a lot for not doing an awful lot, the locals, being not as daft as certain people suspected caught on to the gig and of course now judgement day has come........good I say, and the proof of my pudding eating is that we came out here on an ok deal, not earthquakingly brilliant but ok and livable, Dh's company announce new rates today for flight allowances, everyone up in arms, losing 1000's per year...........us we're up 180dh a month...............need I say more, bottom line..........being in the middle east..it' not exactly an environment that breeds efficiency is it? What hard working UK'r is going to go home saying yes i learned a german like lesson in efficiency and engineering, me I've gone back at least 20 years in terms of commercial awareness and IT in my profession, it's like waking up in an episode of life on mars, good on this eceonomy for waking up to the type of daylight robbery that equates to those who sign on the dole( bru for us scots) and work!!

Yes i have been drinking, but have a LL

AnotherWorld

Yeah I worked in Aldar, not employed by them, they threw money around like it was being generated everytime someone took a dump.

2 - 9 months basic salary as yearly bonus, fairly high base salaries, MASSIVE accommodation allowances for every single staff, 30000 dhs per year per child for schooling, two yearly pay rises and so on. Not to mention the people working there that didn't actually do anything. Ohh and the fact that they would invent a position so an Emirati could work there.

No idea why it was like that but I have a feeling it has to do with ego to some extent... I mean, I went to the big speech and update the company did back in January or something and the chairman made this big announcement about letting people roll over their annual leave (costing the company millions) after the previous company announcement said they couldnt. He made it sound like HE was doing them all a personal favour. The employees cheered louder than a packed MCG during AFL grand final in Melbourne...

Foxes

the big speech was by the cheif admin officer not the chairman, and c'mon if you had just been told that you were recieiving an extra week of work fully paid (although by rights it was yours contractually anyway !!), its not exactly the worst news in the world !!! Your comments about positions for Emirati's is naive as this is somewhat standard practise for most semi govt entities in the GCC let alone UAE.....I believe 2008-2009 bonus was between a max of 1-4 months.

Aldar is going through through many organisational changes wth the current workforce but recruitment is still going on strong. Hotels and Hospitality are going through a recruitment boom as well as technical development manpower coming onto the workforce.

The board are reviewing high salary earners ( mostly your US, UK and Aus staff) and replacing with cheaper labour. Obvious things to do in this current climate. However the effect on quality of the final product ? time will telll.

Rest assured those that are made redundant are being extremely well looked after with pay off's of all allowances and salary for a number of months.

I am led to believe there have been approx 75-80 staff gone since March and another batch due in the coming months. Lots of talk with JV's with other entities as well on the operational side of the buisness.

Aldar is re-positioning itself and making the required changes in order to survive in this current economic climate - a climate which will only get more severe imo. There is a severe lack of understanding by the management of the enormous maintenance costs for the landmark projects which are causing many financial issues - esp at Yas and Al Raha. Construction wise, the cheaper costs in materials is being exploited greatly by the Board - whom have implemented measures to ensure that another LOR situation is avoided !

Anyone working for Aldar will have no regrets with their time at the company financially that is for sure. Most of those who have been terminated are being headhunted for top positions in the GCC as well as UAE.

It will be interesting to see in the coming months the progress on Yas Island. the world will be watching the grand prix and it is to be an immense challenge for the current Project team to be 100% for race day !

lanarkwitch

The very most positive response I've seen here about construction in a long while, realignment is necessary in all companies at the moment....very very well put

AnotherWorld

Yeah you would write something like that if you are proudly working for Aldar too.

Foxes

Thanks for your kind words - i try and get actual facts or info from v. reliable sources - unlike other who obviously have bitter experiences which cloud their so called better judgement

There is no question that as good as UAE property companies go, Aldar is at the top of the market imho....but that does not mean that they have everything right. The real estate sector in the UAE is still developing and what Aldar has amassed (since inception) is nothing short of phemonanal. However there are many issues within their portfolio and management, some of a critical nature, which Aldar needs to address and v quickly. Watching this space will be interesting indeed !!!

soukie

Agreed

AnotherWorld

What exactly are you referring to when you say "kind words" when referring to aldar? And people who have bitter experiences? I had a fine time working in Aldar. Whats laughable is the amount of money and positions they throw around.

You lot sound like a bunch of Emirati's trying to talk up a ****in non-living entity (IE YOUR EMPLOYER) out of some sort of misplaced pride...

Grace O Malley

[QUOTE=AnotherWorld;7762945]
Whats laughable is the amount of money and positions they throw around.

Ha ha so true, sorry to say

busybee2

Anyone working for Aldar will have no regrets with their time at the company financially that is for sure. Most of those who have been terminated are being headhunted for top positions in the GCC as well as UAE.



i know a few people that were working for aldar and have been terminated, they are definately not being headhunted they are just your engineers etc and not in "top positions" and they have had to go back to other jobs in the real world with "real world pay" yes i dont think they will be disappointed because i am sure they have made loads during that time, but that has had a knockon affect on other companies in the same professions... as said on another thread, everyone wants a good salary then the landlords want high rents you can afford it so give into them, and so that is what becomes the "norm". in the past the value of house rents in ab dabs were 120k and the landlords knew that was a good deal but now they are asking for 500k plus for villas on the island...... they are still not working in the real world.