INSEAD: Can you tell us about the Emaar Bawadi Joint Venture and what effect this major project will have on local communities and business?

Naaman Atallah: Emaar Bawadi is one of the most significant regional partnerships in Dubai. It reflects the growth aspirations for the Emirates as outlined by UAE Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, in the Dubai Strategic Plan 2007-2015. By sharing the development synergies of two of the fastest-growing companies in the region, the joint venture is also bringing a new dimension to integrated property development. The company is developing a new master-planned community in the heart of Bawadi, the largest leisure and hospitality development in the region. This community, Centrum, will be defined by a family-oriented theme park with a wide range of attractions; 2.7 million square feet of commercial space through three business hubs; 3.2 million square feet of retailing space; more than 5,000 serviced apartments; 18,000 residences; nine hotels with 5,150 keys. Centrum, thus, opens doors to new investment opportunities across several high-growth economic sectors and also introduces a bustling new lifestyle for the city.

INSEAD: In which countries does Emaar have a presence today?

NA: With six business segments and more than 60 active companies, Emaar has a collective presence in over 36 markets spanning the Middle East, North Africa, Pan-Asia, Europe and North America. The company has established operations in the UAE, Saudi Arabia, Syria, Jordan, Lebanon, Egypt, Morocco, Algeria, Libya, India, Pakistan, Turkey, Indonesia, the USA, Canada and the UK.

INSEAD: Does Emaar intend to start developing in other countries?

NA: Yes, Emaar is looking to expand its geographic footprint across key emerging markets and developed economies, which fits with its Vision 2010 to become one of the most valuable companies in the world.

INSEAD: You led the team that completed the strategic branding project at Emaar. Can you explain the importance of company branding and what the new branding has brought to Emaar?

NA: Emaar's brand strategy has been envisaged in such a way that all of the company's businesses are aligned to the global corporate vision. From a customer perspective, Emaar's target audience is the emerging mass of affluent people within the region, who aspire to live their lives in a lifestyle of their choice. This means building a community feeling for the residents, enabling them to enjoy time with family and friends in a quality leisure and retail environment, also educating their children in top-quality schools and having access to the finest healthcare facilities. Emaar's brand identity has been built on this pillar – one that reflects Emaar's integrated approach. By building a 'country brand' first, Emaar has worked to establish itself as a regional and global brand. Emaar also works to elevate the 'destination appeal' of all the countries it operates in. This micro and macro approach to brand building has powered the company en route to achieving its Vision 2010.

INSEAD: Can you explain Emaar's corporate strategy?

NA: Emaar's growth strategy is outlined in the Vision 2010, which is driven by geographic expansion and business segmentation. While geographic expansion to high-growth markets is only an organic and logical extension to any company's growth strategy, the business segmentation initiatives reflect Emaar's commitment to become an integrated lifestyle provider. Emaar today has built six business competencies – property development; education; healthcare; financial services; shopping malls; hospitality & leisure.

INSEAD: What is Emaar's view on corporate sustainable development?

NA: Sustainable development initiatives are integral to Emaar's corporate ethos. This also reflects our commitment to the Green Dubai vision unveiled by His Highness Sheikh Mohammed. Emaar has introduced Earth Watch, a recycling initiative, to its communities.

INSEAD: What is your opinion on the strategic importance of the UAE, specifically Dubai.

NA: Dubai is already a regional hub and prime driver of the Knowledge Economy. The robust business environment – largely insular from the global recessionary trends – will serve as an investment hotbed for global enterprises, and already there are a sizeable number of American corporates with their regional headquarters in Dubai. The UAE also acquires great economic importance from the perspective of the sovereign wealth funds (SWFs). It is reported that worldwide acquisitions by SWFs totalled USD 20.6 billion in January, 2008, alone – which is one third of the total registered in 2007. It points out the growing global role that countries in the region – especially the UAE – will play in the future.

INSEAD: Emaar aims to become the world's most valuable company within five years. How does Emaar intend to achieve this major goal?

NA: Emaar is en route to achieving its Vision 2010 to become one of the most valuable companies in the world by the turn of the decade through geographic expansion and business segmentation. Emaar's growth is powered by strong strategic partnerships and acquisitions.

Emaar forayed into the US by acquiring John Laing Homes, the second largest privately held homebuilder in the country. Emaar also joined hands with The Turner Corporation, USA's leading building services provider, to form a new entity, Turner International Middle East Ltd., to jointly tap regional growth opportunities. In a move that scaled-up its core competency in product sales across the international arena, particularly the Western hemisphere, Emaar acquired Hamptons International, a UK-based premier real estate company.

In hospitality, Emaar has teamed up with Giorgio Armani SpA to build and manage ten Armani Hotels & Resorts across the world. An Armani hotel and Armani residences will feature in Emaar's flagship Burj Dubai. Other locations include Milan, Marrakech, London, Shanghai, New York and Tokyo.

Driving the company's growth in the shopping malls business, Emaar is making investments of USD 4 billion to develop approximately 150 malls in the mega emerging markets of MENA and the Indian subcontinent.

The flagship shopping mall development of Emaar is 'The Dubai Mall', one of world's largest shopping and entertainment destinations, located in Downtown Burj Dubai. Emaar is also developing the Dubai Marina Mall at Dubai Marina, a waterfront project, the first and largest of its kind in the region.

In Egypt, Emaar Misr has unveiled 'The Cairo Gate Project' located on the Cairo - Alexandria desert road which features the largest outdoor shopping and entertainment destinations in the country.

Emaar has diversified into education and acquired Raffles Campus, a Singapore-based educational provider, to offer international curricula through a series of educational institutions – primary, secondary and tertiary – within the MENA region and the Indian subcontinent.

The company launched its healthcare initiative by unveiling plans to enter the healthcare sector in the MENA and South East Asia markets. Emaar will construct hospitals, clinics and medical centres to provide world-class healthcare services. With a total investment outlay of around USD 5 billion over the next decade, Emaar aims to develop and manage around 100 hospitals, each with a 200 bed capacity and super medical specialities added in key centres.

All of these activities are powering Emaar's growth.

INSEAD: How important do you consider INSEAD's presence in Abu Dhabi is for the school and also for the UAE?

NA: INSEAD's presence in Abu Dhabi is a perfect complement to its global vision of being an educational institution that brings together people, cultures and ideas around the world to change lives and transform organisations. The Abu Dhabi chapter brings global management education to students, entrepreneurs and professionals in the UAE.

INSEAD: Can you tell us about your INSEAD experience, attending the Advanced Management Programme in 2007?

NA: As a management programme that I attended whilst pursing a senior management role in one of the fastest-growing companies in the region, my educational experience at INSEAD was hugely rewarding. It helped me to see business challenges from a global perspective, which is important to me given Emaar's global growth ambitions.

INSEAD: What do you value the most from this programme?

NA: It is the power instilled in me to continuously experiment, innovate and tackle day-to-day management challenges from a fresh perspective with open mindedness from the participants and an attitude that welcomes difference. I was also impressed by the quality and dedication of the staff and faculty, who provided an environment that stimulates learning by provoking you into opening up and thinking beyond the frame of your accumulated experiences. I likened my experience to an intellectual roller coaster: it shakes your mind, twists it, stretches it, taking you to a new frontier.

INSEAD: In your opinion, could INSEAD improve this programme? If so, how?

INSEAD: Are you in contact with INSEAD alumni locally?

NA: Yes, I contact members of the INSEAD alumni. The team spirit fostered by INSEAD is another reward of attending INSEAD.