Mr. Faraidooni is one of the region's most distinguished visionaries in the property development landscape. His extensive track record has seen him spearheading some of the UAE's most iconic projects, encompassing luxury real estate, healthcare infrastructure, financial properties, town planning and numerous other roles. Mr. Farhan Faraidooni is the Group CEO and member of the Board of Directors of the Socioeconomic and Environmental Development Corporation, Sidra.
Mr. Faraidooni previously served as the Executive Chairman of Sama Dubai, the international real estate investment and development arm of Dubai Holding, where he led the organization's strategic global expansion plan. During his tenure in 2007 he was also appointed to the position of Chairman of the Board of Directors of Dubai Real Estate Institute (DREI), the region's first specialized academic institute for real estate studies.
Prior to that and as the CEO of the Executive Design Bureau, he played a pivotal role in the execution of several Dubai landmark projects including Jumeirah Beach Residence, Dubai Healthcare City (DHCC) which is positioned as the regional hub for the healthcare industry, Dubai International Financial Centre (DIFC) and Dubailand.
His earlier appointments included Head of Zoning at the Town Planning Department of Dubai Municipality and Head of Real Estate at the Dubai Technology, E-Commerce and Media Free Zone Authority (TECOM). He was a member of Dubai Healthcare City's Board of Directors, Jumeirah Group (a world class portfolio of luxury hotels and resorts), the Government of Dubai's Islamic Minors Affairs and Endowment "Awqaf", and Al Ahli Sports Club.
He holds a Bachelor's Degree in Architectural Engineering from the United Arab Emirates University in Al Ain.
The Socioeconomic & Environmental Development Corporation, Sidra is a Dubai based investment Organization founded in 2005 for the development of value enhancing partnerships in the private arena by bringing niche expertise onto a common socio-economic and environmental platform in order to engage in all aspects related to large scale projects in various sectors spanning from financial services, infrastructure development, agriculture, FMCG, education, household solutions, wellness, etc… The Sidra Group's organizational and operational structure is an expression of its dynamic and multi-sector investment portfolio. Its unceasingly growing portfolio is a reflection of a continuous pursuit and exploration of new growth platforms in dynamic market economies.
The global financial and economic crisis was a clear indication that there is a need for a fundamental shift in the way success and prosperity are viewed and measured. Despite the clear warning symptoms of chronic ailments inflicted by short-termism, there were continued indications of a focus on short-term financial return optimization at the expense of the long-term detrimental effects to the economies of the world and reining in investments in vital sectors due to uncertainty surrounding the development of international market trends.
In a global community where its members share finite economic and natural resources, collectively suffer the impact of a systematic depletion of the world's environment and natural reserves, and the consequences of the actions of its members, the approach to economic growth must not be one of exclusivity.
One of the proposed cures to the self-inflicted ailments of the modern economy, where company success is viewed in isolation from the communities where it operates, lies in the concept of shared value where business success is firmly interwoven with social progress. An entire constellation of factors of which, to name a mere few, the growing social awareness of employees and citizens and the increased scarcity of natural resources have led to the threshold of an evolution to an expanded view of shared value which goes beyond CSR and charitable initiatives.
Self-interested behavior within the context of shared value is not denied but appropriately channeled to create economic value inspired by social purpose and a deeper understanding of competition and economic value creation with a focus on generating the right kind of profits. The right kind of profits are those that generate societal benefits rather than prompt their ultimate erosion as a result of societal harms which inevitably raise internal costs. By reconceiving products and markets, redefining productivity in the value chain and enabling local industry cluster development, shared value opportunities can be created.
The concept further recognizes that through the innovative use of new technologies, operating procedures and management approaches, productivity can be enhanced and target markets expanded whilst simultaneously addressing societal harms and maintaining cost controls which is echoed in the "triple bottom line" approach adopted by the Sidra Group.
The following are tangible examples of the Sidra Group's philosophy permeating across its various subsidiaries demonstrating responsiveness to social needs and challenges thus articulating its "triple bottom line" agenda with a consideration for the environment, external and internal communities, and its customers:
There is a general global disparity between supply and demand for agricultural products. Some of those contributors are the scarcity of natural resources required for agricultural production such as land and water which cannot be substituted. This scarcity subsequently impacts supply and food prices with the continuous rise in demand. Investments are similarly required in new technologies to improve the quality of crops and efficiency of production. Sustainable means for the production and management of natural resources are also lacking, causing further concerns for current and future food supply. Such challenges and the reliance on food imports in the local market is what prompted Sidra to invest in agriculture and modern technology, in the form of hydroponic farming, to contribute to government and private sector efforts in the GCC region and developing countries therefore ensuring the participation in various future food security programs.
Such challenges and the reliance on food imports in the local market is what prompted Sidra to invest in agriculture and modern technology, in the form of hydroponic farming, to contribute to government and private sector efforts in the GCC region and developing countries therefore ensuring the participation in various future food security programs.
I.	Investment in Technology The development and use of controlled environment agriculture and hydroponics have been known to enhance the economic wellbeing of many communities throughout the world. Hydroponic technology contributes to water conservation and it is environmentally safe due to the absence of release of pollutants into the environment. This, in addition to its sustainable agricultural practices in implementing organic standards, result in high quality produce grown in harmony with the environment. The International Food Network has invested in photocell technology converting the abundant sunlight in its homeland into electric energy to power its farm. These initiatives are a clear demonstration that taking care of the environment and society will yield a return on investment in the medium- to long – term.
II.	Investment In Agricultural Development Yet another illustration of the "triple bottom line" effect is the establishment of The International Food Network's Farm Services Division which aims at playing a critical role in fostering the development of agriculture. This is instrumental for economic growth and sustainable development where its investments in agriculture would achieve both financial returns and development impact by addressing a growing need for food and other agricultural products.
III.	Protecting Our Environment Protection of the environment and climate change has been one of the crucial issues of the last decade and has significant resonance with employees and consumers. The Sidra Group aims to limit its negative impact on the environment and reduce its carbon footprint as part of its environmental agenda. Buildings are one of the main sources of carbon emissions through gas and electricity consumed for the purpose of heating, cooling, lighting the premises and power IT and industrial equipment. The Sidra Group's offices were designed with the aim of contributing to the reduction of carbon emissions and improving energy efficiency by monitoring and reducing its consumption of electricity through the efficient design and installation of lighting and energy outlets. Its offices are therefore fitted out with lights that are linked to movement sensors for that purpose.
La Maison Mondiale, its general trading household business, and its sub-brand KitchenKraft applies in certain areas of its operations, the shared value principle through the framework of its partnerships where considerable attention is given to sustainable practices from the materials used, the processes undertaken to the waste produced.
Mobalpa one of La Maison Mondiale's valued partners, is known for its exemplary environmental development, leading the way with its PEFC certification, which provides for recognition of companies' dedication to responsible and sustainable forest management. In addition, it supplies its factory with 100% renewable electricity. Mobalpa's environmental sustainability practices extend through every level of its organization.
In providing for the needs of a healthier external community as an extension of its internal well-being practices, the Sidra Group's International Food Network ensures that it provides fresh organic produce to a growing health conscious community aware of the benefits of reduced farm to consumer time. The International Food Network aims to provide such consumers with seasonal organic vegetables that are picked at their peak freshness grown locally in its greenhouses by means of hydroponic technology.
Our Internal Community
a. HEALTH AND WELLBEING
The wellbeing and prosperity of the Sidra Group's internal community is intrinsic to making an impact on the wider external community. The Sidra Group relies on its people to articulate the organization's values through their actions that are expected to be characterized by accountability, respect for diversity, embracing respectful debate and working together for a common meaningful purpose. The Sidra Group's health and well-being objectives extend beyond its obligation to keep its employees safe at work or reduce sickness absence taking proactive measures to create the right cultural environment where work-life balance is accepted. The workplace is also carefully designed to create a pleasant working environment based on the awareness that its role in boosting employee well-being and morale must not be underestimated. Social areas were created to promote employee bonding, teamwork and communication. The Sidra Group dedicates time and resources to promote health and well-being and recognizes that each are
b. DIVERSITY
Where diversity relevant discussions mainly focus on gender and race, very little has been achieved in the Middle East to widen the spectrum of this dialogue and action to include disability. The Sidra Group is committed to addressing diversity in its broader perspective by creating an inclusive and supportive workplace.
Sidra Group's management leads by example in emphasizing the importance of diversity, getting personally involved in the design of its premises to ensure that there would be no physical barriers to the employment of individuals with disability by that creating a welcoming environment and work areas and ensuring that their requirements are accommodated. This will be supported by providing disability awareness training to all of its employees and managers.
In expanding its strategic business portfolio as the parent company, Sidra is guided by a philosophy of creating shared value unencumbered by the limitations of the foresight of short-termism thus aiming to create a platform across Sidra's Strategic Business Units (SBU's) and Shared Services Business Units (SSBU's) – by which creating economic value for shareholders as well as societies and environments in which it operates are integrated into a "triple bottom line" agenda to establish a truly enduring success. It embraced this philosophy for precisely that purpose thus connecting sustainable company success and economic growth and wealth with social progress in geographies where it operates.
Through its business diversification in the form of horizontal expansion, vertical integration and geographic expansion, the Sidra Group takes on initiatives aimed at articulating its philosophy into tangible initiatives that are closely related to its various areas of business where company and community prosperity are interlinked.
Operations Framework
The Sidra Group integrates the shared value principle into its policies and operating practices, technical tools, performance measures, and agenda-setting processes of the organization in a way that affects everyday activities and actions so as not to allow any segregation between its philosophy and the day-to-day operations which may lead to its marginalization.
To reach its ultimate goal, the Sidra Group integrates the European Foundation of Quality Management (EFQM)'s standards of excellence into its culture to mold its improvement. This is defined as a comprehensive 9-criteria (leadership, strategy, people, partnership and resources, processes, products and services, customer results, people results, society results and finally business results) dynamic management model which lays down the fundamental pillars for achieving sustainable excellence on the basis of a solid foundation.
The EFQM Excellence Model with its fundamental concepts: leading with Vision, inspiration and integrity, managing with agility, harnessing creativity and innovation, succeeding through the talent of people, developing organizational capability, adding value to customers, sustaining outstanding results and creating a sustainable future, which resonates with the Sidra Group's vision and philosophy.
This world-class organizational framework provides for key tools to identify strengths as well as opportunities by focusing on the relationships between people, processes and results and allows for all members of the Sidra Group's internal community to address and achieve realistic goals towards performance improvement using a common vocabulary and way of thinking.
Financial and Risk Framework
In diversifying investments across various sectors and businesses, optimal capital deployment is achieved whilst introducing various effective strategic and management tools which ensure that the various controllable and uncontrollable, visible or unforeseeable risks would be mitigated. Sidra's separate entities however share a common framework, vision and goals equally benefiting from maximizing the utilization of technology, management methods as well as the knowledge and skills of its most valued resources which lead to improved decision making in carefully crafting its strategic direction and in improved stakeholder confidence due to its enhanced resilience, optimal capital allocation, and reduced volatility, gaps and uncertainty.
Experia Associates, Sidra's legal and professional advisory services firm, extends its wide spectrum of services to legal and professional organizations in the areas of the local law, judiciary and administrative domains.
Experia Associates performs a dual role within the wider context of Sidra's vision by catering to all internal legal and professional services' requirements of the 'Group' and its subsidiaries while simultaneously extending its services externally to clients in various sectors including legal, real estate and construction, management consultancies, and SME's and other parties involved in the legal process.
To name a few, Experia Associates's scope of services includes forensic accounting and fact finding reporting in ongoing or pending disputes and IT Support Services in the form of forensic technical support relating to electronic and hard data.
For its customers in the real estate and construction industry, Experia Associates created a hybrid between the comprehensive technical construction reports used to establish claims in industry specific disputes and more simplified fact asserting exercises.
In addition, the Firm provides support to management consultancies and SME's in the areas of due diligence and transactional support for commercial activities outside of the litigation process, as well as corporate structuring, transactional processes related to mergers and acquisitions and risk assessment. It also acts as a corporate and public relations services center for legal translation, company formation, trademark registration and secretarial services.
international food network
Sidra's most recent initiative, the International Food Network, came into fruition partly to meet a growing preference for locally grown food in the UAE market of which current imported foodstuffs command a market share of up to 85%. International Food Network provides an alternative to consumers that opt for organic fresh produce which is locally grown in its own farm located at the outskirts of Dubai city comprising 40 greenhouses at present using hydroponic technology. The farm's produce is marketed locally through supermarket chains. The International Food Network intends to develop one million sq.mt. of greenhouse in the next 3-5 years.
This encapsulates but one of its numerous strategic concepts as a food solutions and distribution company engaged in diverse operations extending from cultivation of organic food crops to the packing of agricultural produce such as a variety of fresh fruits and vegetables and the manufacturing, distribution, trading of imported processed food and specialty products.
The most recent project in the stages of manifestation is its Farm Services Division that engages the highest level of expertise to acquire, develop and operate farms on contract basis for investors and entrepreneurs interested in capitalizing on the growth of this promising sector. The International Food Network offers its valuable expertise and professional resources in managing investments and marketing of agricultural products.
For more information on the International Food Network products please visit: www.intl-foodnetwork.com
cLa maison mondiale
La Maison Mondiale, Sidra's general trading subsidiary, was established in 2011 inaugurating its envisioned household design and decoration solutions with a focus upon its inception on the kitchen design sector.
As a first step towards the execution of this vision, 2012 witnessed the launch of its preliminary initiative in the form of its leading sub-brand, KitchenKraft. The underlying concept which inspired KitchenKraft is aimed at providing a gallery of artistic contemporary and classic designer kitchen and wardrobe creations catering to both the retail and projects segments.
In order to satisfy the wide spectrum of its clienteles' exquisite tastes, KitchenKraft forged exclusive partnerships with some of Europe's leading brands where artistry and elegance are delicately and firmly interwoven into the tapestry of the history and traditions of top brands such as Mobalpa, Papandrea and Doimo. KitchenKraft has also conceived and developed its own native brand Stanza to create a homegrown legacy of its own.
Stemming from its understanding of a growing requirement for a single source solution, KitchenKraft expanded its portfolio to incorporate kitchen appliances and accessories into its assortment of offerings in collaboration with leading international organizations renowned for their quality and durability in the global market arena such as Miele, Siemens and Teka.
La Maison Mondiale's future holds both geographic and segment expansions within a 3 to 5 year timeframe which shall be regularly communicated through its website: http://lamaisonmondiale.com/
Sidra Capital offers world class financial services providing tailored solutions and insightful specialized advice to individual clients, small and medium size corporations in the areas of investment banking, family office and corporate finance. Sidra Capital provides solutions to increasingly complex financial needs, delivering actionable plans using a unique combination of tools to support both individuals and corporate clients in achieving their financial goals.
For more information on Sidra Capital services please visit: www.sidracapital.com
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