In June 2017, the former managing director of Damac Properties, Ziad El Chaar, was appointed the chief executive of Saudi-based property developer, Dar Al Arkan. Based in Riyadh, Dar Al Arkan is the largest listed real estate company in the Saudi stock market with a capital of SAR10.8bn and total assets close to SAR25bn. In a statement to Tadawul, the company said that Chaars professional background corresponds with the companys current directions to pursue a real estate development strategy that contributes to the growth of profitability, the enhancement of financial position, the achievement of high returns on companys assets plus…
Author: Mehak Srivastava
Rajesh Kumar Krishna is the founder of Dubai-based Beaver Gulf Group and currently heads the company as its chairman and CEO. Through his extensive experience in every aspect of project management and co-ordination, procurement management, finance, administration and banking and over 24 years of his association with construction industry, he raised Beaver gulf group to a turnkey contractor with full-fledged in-house civil construction, oil and gas, electro-mechanical, air-conditioning, structural steel, precast concrete building products, aluminium and glazing, joinery and interiors, signs and graphics, painting and water proofing divisions, and many more. Krishna has managed construction of more than 200 projects…
Abu Dhabi-based developer, Aldar Properties, delivered a net profit of AED668mn for the first quarter of 2018, up 4% from Q1 2017 (AED641mn), reflecting a strong start to the year. And it also bags the 21st position in this years Power Hour. Development sales for the quarter were AED681mn, driven by sales of existing developments under construction, with over 80% of all projects under development sold as till March 31, 2018. At the end of the quarter, Aldar launched Reflection, a boutique development on Reem Island, consisting of 374 units and offering investors and owner occupiers the opportunity to secure…
In early-2018, UAE-based developer, Ishraqah for Development Limited, has appointed Khansaheb Civil Engineering as the contractor for its first hotel at The Onyx Project, located on Sheikh Zayed Road, in the Greens master development. The hotel is scheduled to open in the fourth quarter of 2018. In an exclusive interview with CBNME in January this year, Abdulrahman Khansaheb said: 2017 was a very positive year for us with a consistent flow of projects, through which we were able to grow our business. We are confident that 2018 will be an even better year because of our expansion as well as…
Thumbay Group is a diversified international business conglomerate with its headquarters in Dubai International Financial Centre (DIFC). Over the past two decades, the company has spread its wings into various fields of social and business endeavours. The establishment that was started in 1998 by its founder, Thumbay Moideen, a third-generation entrepreneur from India, the company has grown into a diversified business group with operations across 20 sectors. The group created history at the prestigious Business Excellence Awards of the Department of Economic Development (DED), Dubai, by winning four honours in a single assessment cycle. The following awards were won by…
Agility Ventures is a key investor in Homoola and has worked closely with the Homoola team on the platforms development and operational launch
KBW Investments (KBW), founded by chairman HRH Prince Khaled bin Alwaleed bin Talal, has made significant steps forward over the past 12 months. They have been busy on several fronts, with one of its portfolio pillars, Raimondi Cranes, currently seeing its best year in the Middle East to date with positioning in the GCC across several highly visible jobsites working with some of the regions strongest companies. Also, the strongest impact came with the launch of the newest developer, ARADA, a partnership enterprise formed with Basma Group. Aaron Chehab, chief commercial officer at KBW Investments, tells CBNME: Our leadership team…
Mohammed Jafer Musthafa is the owner and managing director of Abu Dhabi-based group of companies, Daemaar Group. The company covers a wide range of businesses from construction to newly-launched retail division. Musthafa has grown the company through a series of entrepreneurial challenges and he is set to invest in poor communities and education/healthcare around the places that he has a business relation with. Daemaar Group had seen an aggressive growth in the past two years and the management style of the young business owner is reinventing the business scene in the region. Says Musthafa: “Daemaar Group was founded with a…
Being the managing partner for Lacasa, Emad Jabers primary responsibilities include making major corporate decisions and managing the overall operations on a strategic level. During the past 12 years of Lacasas practice, Jaber has managed to move Lacasa from a newly established architectural and engineering firm to be one of the largest international consultants playing a leadership role, by capturing a substantial ratio of the market share from the largest competitor and establishing brand loyalty among all key developers. The firm boasts of signing more than 420 consultancy contracts, the majority of which are considered as landmark construction destinations in…
Dr Najib Khatib was elected as the chairman of Khatib & Alami (K&A) in February 2017, in addition to the role of CEO, which he took up in 2016. His appointment recognised the outstanding contributions and achievements he has delivered throughout his 22-year career with the company. Dr Khatib has been a member of the K&A Boards executive committee since 2006. In 2011, Dr Khatib was elected as the managing director of K&A, and he quickly set in motion two key initiatives. Firstly, he oversaw the change in jurisdiction of the holding company from Lebanon to Singapore. K&A Holding, which…