Sabban Property Investments signs the 'United Nations Global Compact'

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Developer seeks to further strengthen CSR initiatives and demonstrate leadership in responsible business practice
Sabban Property Investments (SPI) has announced that the CEO - Issam Al Sabban has signed in support of the United Nations Global Compact (UNGC) in a bid to further strengthen its CSR initiatives and demonstrate leadership in responsible business practices within its sphere of influence. Issam Al Sabban's signatory was acknowledged during the launch of the GCC Global Compact Network held recently at the Dusit Dubai and organised by Emirates Environmental Group (EEG). The launch, which was held under the patronage of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, was attended by George Kell, Executive Director, UNGC, in addition to more than two hundred high profile delegates from governments, dignitaries, business leaders and key representatives of civil society and the academic sectors.

The UNGC is the largest CSR network in the world and was initiated by Kofi Annan, former Secretary-General of the UN, as a platform to engage the private sector in positive global corporate practices. The Global Compact has encouraged thousands of influential global businesses to implement corporate strategies tackling human rights, labour, environment, transparency and anti-corruption issues. Signatories of the compact are expected to submit an annual report detailing progress they have made in at least one of the four areas. The launch of the local GCC network raises hopes that more regional enterprises will be encouraged to act in accordance with the UNGC's ten principles for sustainable and socially responsible corporate practice.

"Business leaders have a newfound responsibility in modern society and that is to communicate and demonstrate real intentions to improve the conditions we work in, it is no longer acceptable to concentrate solely on the bottom line. The impact of organisations of all sizes, affects far more than just local economy. Today we must concentrate on a 'triple-bottom-line' of profit, people and the planet," said Issam Al Sabban, CEO, Sabban Property Investments. "By publicly advocating the Global Compact and joining its GCC network, we are adding strength and conviction to our values, which have been the foundation of our business processes since we started our operations. We are sure that this effort clearly demonstrates to our clients, peers and stakeholders our firm stance on responsible business practices."

"By participating in the global compact and voluntarily aligning our own principles with the UN's universal values and sustainability objectives, we can accomplish more than we would alone. It is a great opportunity to share our own knowledge experience and case studies with other like-minded business leaders, from whom we can also learn a great deal from. Our communication on progress to the UN will demonstrate transparency and provide us with focus and support for our drive for long terms sustainability not only for our CSR initiatives but for our business as well. We expect our strong ties with these organisations and the UN to be highly transparent and provide us with adequate focus and support for our long term sustainability efforts," added Al Sabban.

Prior to signing the UNGC, SPI were already one of the founding members of the EEG's CSR network - the first CSR network in the Middle East. SPI's CSR initiative to date include various environmentally-focused projects around the globe, SPI is a carbon neutral company and have created the first carbon neutral development in the Middle East - The Sabban Towers on the Pearl Qatar. In addition to being one of the founding members of the Emirates Green Building Council, SPI are also corporate members of the Emirates Wildlife Society - World Wildlife Fund (EWS-WWF), and have recently participated in the organisations 'Save the Ghaf Tree Campaign', EEG's - 'Plant a Million Tree Campaign' and teacher's workshop has also witnessed strong support from the developer in recent months.

"Substantive action which realizes corporate impact on the society, environment and the economy and making that impact positive is crucial for the sustainability of any company. Aligning our strategies with the UN Global Compact principles will reaffirm that we are all moving along the same track in our efforts to be responsible as corporate citizens. Our strong alliance with EEG and their previous environmental projects has culminated in this huge step, which validates our dedication to the community and reaffirms our leadership within the industry." concluded John Browne MBE, Managing Director, Sabban Property Investments.

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About Sabban Property Investments (SPI)
Built on solid values that exemplify stability, social orientation, dynamism, personnel relations and commitment to ideals, Sabban Property Investments was established with a vision to lead the field by creating opportunities for people to own their part of the region's prosperity. By building strong bonds with people, SPI aims to claim its share of the promising future of the Gulf region and to contribute to it in a significant and meaningful manner.

In May 2005, Sabban Property Investments (SPI) announced its plan to build three residential towers (the Sabban Towers) on Porto Arabia, the main marina of The Pearl-Qatar, a US $2.5 billion island being reclaimed offshore from the Qatari capital of Doha. This makes SPI one of the first companies to build on the unique development, Qatar's first international freehold real estate venture.

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PO Box 66861, Dubai, UAE
Tel: +971 4 3988134
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© Press Release 2008