Urban 4site’s governance strategy is focused on ensuring a sustainable and responsible property development organisation.
The organisation’s Board and executive management believe that a robust and comprehensive risk management strategy is of critical importance to ensuring sustainable returns for investors, and for ensuring the sustainability of the organisation and the successful delivery of each and every project.
Urban 4site uses its robust risk management approach to identify and manage the organisation’s risks, taking a proactive and structured approach to manage our organisational outcomes. This policy defines the objectives, processes and responsibilities of the various key management role players in the company. The risk management policy is subject to annual review, with any proposed amendments being submitted to the Audit and Risk Committees, with final approval being the prerogative of the Board of Directors.
In ensuring fulfilment of this responsibility, Urban 4site’s Board has established Audit, Risk and Complaince, and Social and Ethics Committees, which are responsible for ensuring the development and the continuous monitoring of the organisation’s risk management policies and processes. These Committees, and the organisation’s Executive Committee, report regularly to the Board on their activities and resolutions.
Our risk management methodology is founded on the framework of identifying, comprehensively analysing, and developing management strategies for all the key risks faced by the organisation. Our organisation’s key risk elements are grouped according to our functional areas, with the identification, analysis and risk management strategies being identified and conceptualised by each divisional head and their management and professional teams. This approach further identifies risk tolerance limits, and dictates the adherence parameters of the said risk limits. The Risk Management policies and procedures are assessed regularly, and updated accordingly, to reflect both internal and external changes in our dynamic environment.