The financial planning is so important for the Emaar group of properties due to following reasons (Michael, et al., 2011).
It will be possible for the chief executive manage the income and he can understand the money for tax payments and other expenses and he will come to know about the savings (Patricia and Ilia, 2012). Chief executive will be able to understand the expenses and the cash flows (what comes in and what goes out) and he can monitor the expenses (tax planning, utility bills etc.) and income. In this way while planning finance the chief executive will be able to understand the income and he can increase the capital amount by improving the investment plans. Financial planning will also provide him chance to secure his family financially, by having proper insurance policies he will secure with financial security in future (Badertscher, et al., 2010). In the financial planning the chief executive of Emaar group of properties personal circumstances, his objectives and risk will be considered and it will provide him help to choose the effective type of investments as according to his needs, goals, objectives and wants. Chief executive can improve his financial situation by financial planning and can save his money which will be helpful for him in bad days e.g. he can secure him while buying insurance policies. And he will utilize his all resources and will control all the business operations for more income and in this way he will save time and money. And through budgeting he can make more savings for him and his family. He can come to know the real value of assets, because some time costs are attached with assets and in this way he will be aware of actual value of his assets and he can understand the liabilities of the company as well and through effective planning he can pay the liabilities that will increases the value of his assets (Ali, 2008).