Seef Properties deploys Oracle
Oracle Middle East, today announced that Bahrain’s Seef Properties one of the Middle East’s largest property developers have successfully deployed modules of the Oracle E-Business Suite to further integrate its financial and purchasing operations.
Oracle Middle East, today announced that Bahrain’s Seef Properties one of the Middle East’s largest property development and management companies have successfully deployed modules of the Oracle E-Business Suite to further integrate its financial and purchasing operations.
Seef Properties has selected Oracle E-Business Suite in an effort to streamline its business processes and reduce operating expenses by consolidating its back-office information onto a single platform.
The developer believes that by consolidating Seef Properties' financial and purchasing systems the company can accurately plan and forecast in a competitive commercial property market besides increase the transparency and timeliness of its financial reporting.
“Given our aggressive growth strategy over the next few years, including online initiatives as well as the expansion of the centre, Seef Properties required a reliable, scalable and highly integrated set of business solutions, and Oracle's E-Business Suite fit those needs,” says Paul de Nicola, CEO of Seef Properties.
Opened in 1997, and developed by Seef Properties, the 100,000 square metres Seef Mall was designed by Raglan Squire and Partners, and is estimated to be one of the largest properties in Kingdom of Bahrain.
“One of the major advantages of Seef Properties’ new Oracle business applications is the ability to generate up-to-date performance metrics as well as profit-and-loss summaries across all of its different outlets. Keeping this diverse information up to the minute and maintaining it in a single place gives Seef Properties’ executives greater visibility into the centre’s profitability and capacity to expand operations,” he adds.
“In a hotly contested industry, Seef Properties created a major advantage by taking greater control over its disparate financial and purchasing processes. Integrating and putting these systems online should result in measurable cost savings,” says Husam Dajani, Oracle vice president for the Middle East.