Re: Aldar
 

yes totally agree

Re: Aldar
 

We must have been ripped off then - as we were paying 40,000 for an apartment with facilities in Dubai in 1994 and thought it was shocking when we had to pay 50,000 (for a 2 bed without facilities) when we moved to Abu Dhabi in 1995 but that WAS the going rate then.

Re: Aldar
 

It would not have been a new appt though?

11 years ago, brand new penthouse appt with big terrace, 3 beds, 2 en suite, 2 additional bathrooms ,separate lounge and dining room for 65,000

Re: Aldar
 

also was told by someone that after the gulf war there was a big increase in the prices and then they settled down.

Re: Aldar
 

the 2 bed was new, the 3 bed wasnt new but perhaps 2 or so years old, the 3 bed bigger one was again a couple of years old.

Re: Aldar
 

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

Re: Aldar
 

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 ?

Re: Aldar
 

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.

Re: Aldar
 

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.

Re: Aldar
 

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

Re: Aldar
 

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:blink:

Re: Aldar
 

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...

Re: Aldar
 

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 !

Re: Aldar
 

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

Re: Aldar
 

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

Re: Aldar
 

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 !!!

Re: Aldar
 

Agreed :wink_smile:

Re: Aldar
 

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...

Re: Aldar
 

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

Ha ha so true, sorry to say

Re: Aldar
 

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.

Re: Aldar
 

Yes...

Re: Aldar
 

in relation to the job offers of ex-aldar staff - change 'most' to 'some' then ;)

what is the relevance of knock on effect to other companies :blink:?! So a company has paid out higher than market rates salaries and is now feeling the effects of such costs due to a change in the market conditions. How can this effect other companies in the same professions ?:blink:

This correlation you refer to between 'everyone wanting a good salary' to 'landlords wanting a higher rent' with Aldar, and to an extent the JV with LOR, is truly bizarre. If you are implying that one company (which employs approx 500 staff) is responsible for the extraordinary rental increases to a city with a population of 1.5m - then I think you overestimate the power of that company ;)

Yes the construction boom has brought in an increase in the population, but the high rents in the AD housing market is primarily down to one factor - there is vast shortage of supply. pure and simple.

Re: Aldar
 

yes it does boil down a lot to shortage, but its also down to the fact that one landlord gets x y and z from one company/tenant and so they all want the same, and so the market rate goes up.... and up.......

i will answer the rest later.....

Re: Aldar
 

Not unexpected bad news coming out from Abu Dhabi's biggest property Company. However would be interested to see the in depth analysis for the vast rise in developments under construction as above:blink:

As far as i am aware - Aldar has scaled back considerably on the number of projects under devleopment ......


http://www.arabianbusiness.com/56320...t-slumps-by-79

Re: Aldar
 

Al Raha Beach will be picking up pace again very soon - note that in a few days time a certain Company will no longer be associated with the management of it. Also Al Falah is another development! Not sure about others.

Re: Aldar
 

soukie how is that affecting you?

Re: Aldar
 

[QUOTE=soukie;7795606note that in a few days time a certain Company will no longer be associated with the management of it.

will they be any better? come 1st August.

Re: Aldar
 

But that certain company will still be working in the project (I'm guessing?)

Re: Aldar
 

Some major projects due to be completed for Aldar shortly - will be interesting times if these are delivered as expected.....

News is major salary cuts in the pipeline for the staff who survived the job culls of earlier this year by Dec....

Re: Aldar
 

I don't think I'll shed too many tears. Some of the engineers at ALDAR are breathtaking in their arrogance. Young Brits and Aussies who would struggle to be site engineers back home, touting themselves as project managers...

If it wasnt for the sheer volume of cash and labour resources they throw around, the lack of planning and forecasting would bring their projects crashing down...

Re: Aldar
 

Have heard there have been a few "sackings" recently. Moodys have downgraded them so it doesn't bode well for the future. Maybe it's time for the Board to look at the management structure in detail.

http://www.thenational.ae/apps/pbcs....701289882/1005

Re: Aldar
 

I hear that Carillion have come in to takeover on one of the areas on Al Raha...is that the case?

Re: Aldar
 

Carillion, along with a number of contractors, have been working with Aldar on Al Raha Beach for a long time. Aldar is the Client. Not sure about the takeover bit though !

Re: Aldar
 

Not sure about Aldar sacking people
I know of four ex Raha beach guys who have been taken on by Aldar in the last month alone

Re: Aldar
 

Are they ex ALOR staff - I thought that Aldar had "blacklisted" them! I only know about the office bound staff and a few have gone.

Re: Aldar
 

Yep def initely ex ALOR and definitely on Aldars books now. I shall be having a beer with one on Sunday to celebrate in Captains

Re: Aldar
 

Good for them - perhaps Aldar are realising that the "workers" were not to blame for the LOR fiasco !

Re: Aldar
 

I personally know of a number of folks recently taken on by ALDAR as well. Seems to be a move towards operational staff.

Re: Aldar
 

Aldar are recruiting for the souk central market project - the next high profile opening due later this year....barring any more delays of course....

Re: Aldar
 

Seems like ALDAR are having problems with a £55 million loss for the first quarter of the year. Time for another shake up and perhaps they should look higher up the tree this time!