Group Project: Business and Commercial Law

Contentss

Part: 1

Part: 2:

Brief About the Company:

Objective and concern activities of the Company:

Capitalization:

Rival:

Comparison:

Decision:

Part: 3

Restriction on employment of minor and adult female:

Mentions:

Part: 1

Name of the Company: Emaar Properties PJSC

Part: 2:

Brief About the Company:

Emaar is a Dubai based Public Joint Stock Company. The company is a listed company in Dubai Finanacial Market. The company is belongings developer with planetary presence. Since origin of the company since 1997, the company has been involved in development of belongings all over Dubai and has changed the landscape of belongings development in Dubai. Emaar developed Burj Khalifa, the tallest edifice on Earth ( Emaar, 2014 ) .

Objective and concern activities of the Company:

The aim of the company is to develop universe category belongingss world-wide. The iconic real-estate company created value-added and master- planned communities all over the universe. The company has the capacity to run into full spectrum of life manner demands of the occupant. The company has the capacity to develop shopping promenade, retail and in cordial reception concern. The company has already developed 37,350 residential units all over the universe. The company has besides developed 6,93,000 sq. ft. of international market. The company has strong cardinal and has got assets over AED 62.8 billion, i.e. $ 17 billion. The land bank of the company is monolithic 232 million Sq. metres. In the international market it has 6,90,000 square metres of repeating gross coevals assets. The assets include hotel, promenades and over 1900 suites. In 2013 the company made net income of AED 2.568 billion i.e. $ 699 million. The one-year gross of the company in 2013 is AED 10.328 billion i.e. $ 2.812 billion. The company is constructing its strong fiscal on the growing of Dubai economic system. Emaar recorded a net net income of AED 1.731 billion i.e. $ 471 million ( Zawya, 2014 ) . In the first six months of 2014 the company has gross of $ 5.063 billion. Out of the entire gross Emaar’s promenade, retail, cordial reception and leisure concern contributed AED 5.063 billion.

There are several undertakings underway for Emaar. The most highlighted undertaking of Emaar is the incorporate lifestyle finish on 500 acre country of AED 73 billion i.e. $ 20 billion ( Business, 2014 ) .

Capitalization:

The market cap or market capitalization of the company is AED 51,764.91 million. The minority stockholder involvement in the company is AED 190.77 million.

Rival:

The chief rival of Emaar is Nakheel Properties. The belongings developer is based in Dubai. The company is non a listed company. The public presentation of the company is non at all robust in footings of entire gross. In 2012 the company announced 2.02 billion dirhams, i.e. $ 550 million. The Nakheel belongings announced that in 2013 it will finish 3000 retail residential units.

Comparison:

The comparing of Emaar and Nakheel would be unhealthy. Both the belongings developer are dominant participant in Dubai Real Estate market but the in footings of gross and net income and range of concern Emaar is far in front than Nakheel belongingss. Emaar has already announced development several new undertakings in Dubai, like Address Residence Sky View ; Burj Vista ; Boulevard Point, BLVD Crescent and BLVD Heights ; and Vida Residence Downtown Dubai – all in Downtown Dubai ; The Hills and Vida Residence in Emirates Living ; and Palma, Rosa, Rasha, Lila, Yasmin, Samara and Aseel Villa communities in Arabian Ranches. The company has presence all over the universe. The market for Emaar is crossing in different parts. The company has already established its store in assorted states United Arab Emirates, Saudi Arabia, Syria, Jordan, Lebanon, Egypt, Morocco, India, Pakistan, Turkey, USA, Italy and Canada.

Decision:

The company is one of the largest existent estate companies in Dubai. Apart from being a listed company in Dubai the company has programs to name its subordinate in India. The company is in enlargement manner all over the universe. Emaar has put in topographic point its program to increase its operations in assorted parts of the universe.

Part: 3

Restriction on employment of minor and adult female:

Harmonizing to UAE labor jurisprudence the employment of juvenile under the age 15 is prohibited. Before using a juvenile the employer has to do certain that all the relevant information and paperss of the juvenile is recorded decently in the name of the Juvenile. The list of paperss includes birth certification issued by the concerned authorization. The certification of physical fittingness is besides to be provided to the employer. The written consent from the defender of the juvenile has to be secured before using the juvenile. The employment of the juvenile is prohibited under some fortunes of employment, like at dark at industrial project, occupations which are harmful to wellness, where the working hours exceeds six hours a twenty-four hours and working in vacation ( Law, 2014 ) .

The adult females are non allowed to work at the risky industry where they can hold serious wellness restraints. The installations provided to adult females in work force are non harmonizing to international criterion. The pregnancy leave for adult females workers is 45 yearss ( CEDAW, 2010 ) . They article 33 of labour jurisprudence of UAE says that the pregnancy leave will be allowed to the adult female employee employed for more than one twelvemonth in the same company. If in instance the adult female campaigner is employed for less than one twelvemonth in an administration the adult female employee will be paid half of her wage during 45 yearss period. The act is soundless about the numeration of 45 yearss leave, whether it is calendar yearss or working yearss. The International Labour Organisations Maternity Protection Convention No.183 of 2000 clearly recommended that adult females shall be allowed 14 hebdomads of pregnancy leave by the employers. The UAE labor Torahs are non consistent with the international criterion at all. The UAE pregnancy leave allowance is more than 50 % lower compared to international criterion. The chest eating interruption for the adult female is non consistent with the international criterion and the abortion leave is non at all considered under UAE Torahs ( Sadek, 2012 ) .

Mentions:

Business. ( 2014 ) .Emaar Properties – UAE. Retrieved from arabianbusiness: hypertext transfer protocol: //www.arabianbusiness.com/companies/emaar-properties-uae-66430.html

CEDAW. ( 2010 ) .Women ‘s Rights in the United Arab Emirates ( UAE ) .Retrieved from hypertext transfer protocol: //www.fidh.org/IMG/pdf/UAE_summaryreport_for_CEDAW.pdf

Emaar. ( 2014 ) .The innovator of master-planned communities in Dubai. Retrieved from Emaar: hypertext transfer protocol: //www.emaar.com/en/who-we-are/

Law. ( 2014 ) .UAE Labor Law. Retrieved from hypertext transfer protocol: //uaelaborlaw: hypertext transfer protocol: //uaelaborlaw.com/

Sadek, I. ( 2012, June 28 ) .United Arab Emirates: Pregnancy And Paternity Rights In The UAE Private Sector. Retrieved from mondaq: hypertext transfer protocol: //www.mondaq.com/x/183950/employee rights labour relations/Maternity And Paternity Rights In The UAE Private Sector

Zawya. ( 2014, October 29 ) . Emaar records 37 % growing in net operating net income to AED 2.489 billion ( US $ 678 million ) in first 9 months of 2014. UAE. Retrieved from hypertext transfer protocol: //www.zawya.com/story/Emaar_records_37_growth_in_net_operating_profit_to_AED_2489_billion_US_678_million_in_first_9_months_of_2014-ZAWYA20141029113926/