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The Biz factor

In an exclusive interview with City Times, Zaal M. Zaal, the Chairman of Al Barari real estate developers talks about the company's sponsorship deal in this year's Asian Business Awards

MIDDLE EAST'S Asian Business Awards, launched this year, will be held at Emirates Palace Hotel, Abu Dhabi, on December 8.

The awards were created to recognise and reward pioneering businesses that have blazed new trails and set new benchmarks in the region's Business World. The honours have the distinction of being the first ever awards in the Arab world to commemorate the achievements and contributions of outstanding Asian business personalities and is poised to become an annual event.

Al Barari, one of the UAE's luxury real estate developers, is the prime sponsor of the Asian Business Awards event, while Indian Expressions and Real Media are its event architects and PricewaterhouseCoopers are its independent analysts.

Zaal M. Zaal, Chairman of Al Barari talks about the involvement of Al Barari in this prestigious event.

What inspired you to support this year's Asian Business Awards Middle East?

Al Barari is a premium developer that has carved a niche in the industry for developing exclusive, distinctive and sustainable communities. The company's mission is to continuously raise the benchmark of property development in the UAE and the region through the development of eco-friendly and sustainable communities, as well as pioneering new standards in estate planning, environment controls, and ongoing quality-driven project management.

It is this pioneering spirit and passion for excellence that inspired us to support the Asian Business Awards Middle East, which we believe provides the perfect platform to give the Asian community the acknowledgement it deserves. It has been an invaluable partner in spurring the growth of the Middle East towards where it is now, and it will continue to be a strategic partner in stirring it to greater prosperity and stability in the future.

Is this the first time Al Barari is sponsoring awards on this scale?

It is the first time for an event of this nature, and tailored specifically for the Asian community. Although we had sponsored another event previously with Shahrukh Khan.

What is your consumer and investor base like? Is there a big emphasis on South Asians and is this the reason why you are sponsoring the awards?

Our consumer base is a mixture of Asian, Arabs, and Europeans. The reason for sponsoring such an activity, or any event for that matter, is that it supports our corporate positioning and we believe in what the event is trying to accomplish.

Why did you choose Abu Dhabi as the venue for the ceremony?

Abu Dhabi is the capital of the UAE, and as such holds an important distinction as the political, economic, and socio-cultural centre of the nation. With a rapidly progressing economy, one that has created a stir in the global marketplace, it is an ideal venue to hold an event where entrepreneurial excellence is recognised.

Do you have the patronage of anyone from the UAE government or royal family?

We are expecting a number high profile guests from the UAE government and possibly the Royal family to attend. VIP's and key corporate business owners from around the region will definitely be present again as an affirmation of the Middle East's support for the Asian business community.

How involved have you been in setting up the criteria and categories of the awards?

Al Barari recognises the importance of ensuring the credibility of awards ceremonies such as this, and was resolute in putting in place a nomination and selection criteria that is unbiased and fool-proof.

The awards are called Asian Business Awards but it appears that most nominees are from South Asia. So isn't it misleading to call it Asian and not South Asian?

Not necessarily. It still is appropriate given that the long term vision of this event is to enhance trade and business relations between the whole of the Middle East and Asia, not just South Asia. We are confident that as the event progresses, more and more nominees from other parts of Asia will be identified and that this will be a truly encompassing event covering Asian business initiatives in this region. Also, it makes more sense to do it on a bigger scale to reflect a growing global trend towards regional integration.

Is there a way of assessing the Middle East stakes of a particular businessperson for him/her to be considered a nominee?

The way to do it is to ask for audited documents from companies and corroborate with existing public documents to assess the value of an entrepreneur's presence in the Middle East. But the ABA is not just about how much money one has made and continues to make, but also about corporate best practices and corporate social responsibility initiatives, among other equally important criteria.

Some people allege that the awards are not that impartial since big business tycoons can induce their employees to vote for them. What do you think?

The goal from the very onset was to make this a highly participatory event, and as such anyone can vote for who they think is the best for certain categories. By its nature, it actually precludes any bias on the part of the organisers and makes it more reflective of the sentiments of the majority.

To your mind, how will the Awards enhance inter-regional cooperation?