Property giant Aldar has called a review of its advertising business as part of a change in its communications strategy.
The Abu Dhabi-based developer, which has announced $75 billion worth of assignments since it launched in 2005, has invited 10 agencies to pitch for the account, with the review currently at the RFP stage.
Incumbents JWT and Impact BBDO are not involved in the review, which is understood to be the biggest new account up for grabs.
Sami Eid, deputy director of marketing and media at Aldar, said three of the 10 agencies would be shortlisted for the second round, before a decision was made later in the year.
“There’s a new strategy for the company and we are looking for an agency that will provide us with a creative solution to accommodate that change in the strategy,” said Eid.
“Because we are looking for a different approach we did not invite the agencies that used to work with us, including Impact BBDO and JWT. Not because we have anything against them, but because we need a change and it doesn’t make sense to go back to the same agencies.”
The company’s projects include Yas Island, Al Raha Beach, Central Market, Nareel Island, and Noor Al Ain. In April Aldar announced that it had incurred a net loss of $85.5 million during the first quarter of the year, compared with a net profit of $242 million for the period ending 31 March 2009.