Kuwaiti real estate company goes for Oracle’s management software
Oracle has announced that Munshaat Real Estate Projects Company has selected its E-Business Suite Special Edition as the core software foundation for its business.
Oracle Corporation has announced that the Kuwait-based Munshaat Real Estate Projects Company has selected Oracle E-Business Suite Special Edition as the core software foundation for its business. Oracle E-Business Suite Special Edition is a preinstalled, pre-configured solution, which includes financial, order management, purchasing and inventory facilities to meet the needs of midsize companies.
Munshaat Real Estate Projects is a closed sharing company based in Kuwait with a paid up capital of US $51 million. The company deals with real estate investment opportunities and development as well as managing funds in both the local and international markets. Munshaat is also the owner of Zamzam Towers in Makkah, Saudi Arabia, which at $390 million is one of the largest investment projects in the Kingdom. Thus, the company has needed an enterprise resource planning (EPR) system to accurately control the financial aspect of its business for some time.
“After evaluating several other ERP solutions, Munshaat chose the Oracle E-Business Suite Special Edition. The Oracle solution was chosen because it offered the crucial combination of robust business software coupled with a rapid implementation cycle,” said Khalid Al-Mutawa, assistant vice president of operations, Munshaat. “The Oracle software offered the benefits of being quick to implement and requiring little IT support. It also offered the financial accounting functionality Munshaat needed to manage its business successfully. We also found the price to be very favourable,” he added.
A team from Kuwait-based Oracle business partner ACC Holding together with Al-Mutawa, who managed the project, conducted the implementation of the software and also provided training.Al-Mutawa commented on Oracle solutions and services : “Oracle E-Business Suite has been much appreciated by Munshaat’s management for its operational and reporting capabilities. The system has given Munshaat better control over its business and a clear view on which to base important decision. The service we received from ACC was excellent.”
“The real estate segment deals with major challenges in terms of raising financing, managing investments and complex projects,” said Hussam Dajani, vice president, Middle East and Africa, Oracle. “Oracle has made a conscious effort to provide solutions with our local solution partners, we are delighted customers can see the value of our work,” added Dajani.