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Project Financial Control & Reporting

The seminar conducted at Reem Emirates Aluminum primarily focuses on Project Manager’s and their understanding of their commercial obligations. The session highlighted the process of how they should be providing the correct financial reporting on their projects, following a tested guideline. The program reflected on a Project Manager’s role of taking ownership of the projects for its P&L and working closely with the QS who will act as support function for them. The talk encouraged that the Project Manager needs to drive the project and ensure the controls are closely monitored, along with being more proactive to ensure that the projects are reflecting the correct status to the management at all times. Various points the seminar covered include, Costing & Financial Life Cycle Of A Project, Cost & Budget, Cost Control & Financial Control, Tools For Cost Control, Budget Transfer Process, Vo Addition/ Omission, Budget Addition, Generating Build Smart Reports, Project Cost Reporting And Responsibilities And Accountabilities.


2016 ACHIEVEMENTS

2016 has been a successful year for REA as we would like to take this moment to highlight some of our outstanding achievements.

Our most telling achievement was growth of the company from 1,988 employees reaching 2,502 employees, with an increase of 514 which strengthen REA’s capabilities and capacity to deliver the increase number of our projects.

Reem Emirates Glass division of REA have undertaking major production uplift by successful installation of a new (DGU) Double Glass Unit & Tempering Line facilities; which has enabled the firm to achieve 100% production capacity.

In order to diversify our products lines REG have successfully installed Ceramic Fritting Glass machine to fulfill all printing glass requirements in-house and improve the supply chain cycle on glass products.

Project Handovers in 2016:
Al Jazeera Tower – (Abu Dhabi)
Viceroy Hotel Palm Jumeirah - (Dubai)
City Walk Hotel - (Dubai)
Saraya Towers - (Abu Dhabi)
Zone K - (Abu Dhabi)
 
Awarded Projects in 2016:
Opera Grand Tower, Emaar – (Dubai)
Vida Residence, Emaar - (Dubai)
Tiara United Towers, Al Wasel/Meras - (Dubai)
Serenia Residences – Banian - (Dubai)
Palm Tower – Nakheel - (Dubai)
Axis Tower – Hansen Façade – (UK)
19 Duncan Street – (Canada)
 
Current Progress on Ongoing Projects:
98% completion of 2000 Villas - (Al Ain)
95% completion of Akoya Villas - (Dubai)
91 % completion of 3000 Villas - (Al Ain)
82% completion of MBS Crown Plaza – (UK)
71% completion of W Hotel - (Dubai)
66% completion of Seventh Heaven - (Dubai)
64% completion of City of Light – (Abu Dhabi)
60% completion of Ashjar - (Dubai)
57% completion of Serenia - (Dubai)
20% completion of Axis Tower – (UK)
13% completion of JVC (Suites in the SKAI) - (Dubai)
10.00% completion of Palm Tower - (Dubai)
3% completion of Nad Al Sheba- (Dubai)

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