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ETA Star introduces Executive Housing

- November 20, 2006, 5:05 pm

ETA Star, a leading property developer in the UAE, has introduced for the first time in the Middle East, tailor-made Executive Housing Solutions with the launch of its latest initiative called ‘Star Corp’.

Providing tailor-made housing solutions to the corporate sector is expected to significantly benefit both the employee and the organisation. While employees can be assured of high quality accommodation at a location close to their place of work, companies have an opportunity to convert the ever-increasing Housing Rent Allowance (HRA) paid to their employees into an asset as the housing units they will invest in will be a valuable asset in the name of the company.

‘Star Corp has been launched to provide employers an opportunity to make an investment that will bring high returns in the long term. The spiraling rents in the UAE has meant that companies are required to increase the HRA paid to their employees very often. By investing in our executive housing solutions, companies can reduce their overhead expenses while adding to their fixed assets that will be reflected in the balance sheet,’ said Abid A. Junaid, Executive Director, ETA Star.

‘Even from HR perspective it makes good sense for companies to invest in its employees as world-wide housing-related perks are considered as an excellent retention strategy,’ he added.

Companies opting for ETA Star’s Executive Housing Solutions also have the choice of providing their employees an option of owning their apartments through bank tie-ups, in the process fostering employee retention. Having most of the employees staying in company-provided accommodation also brings with it other advantages such as car pooling or company transport. In addition to this Star Corp will also provide leasing services for offices and retail space with in ETA Star properties and Custom-built buildings on turnkey basis.

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