Monday 25, July 2016

Abu Dhabi – MENA Herald: The Board of Directors of Eshraq Properties PJSC (ADX: ESHRAQ) has approved the appointment of Jassim Alseddiqi as the new Chairman of the company with the mandate of leading the company to a new era of growth and expansion.

An expert in financial structuring, luxury real estate development, capital markets, portfolio management and real estate private equity, Alseddiqi will focus on energising the company’s operations to be a leading provider of premium real estate in the UAE and in creating long-term value for its stakeholders.

Meaning sunrise in Arabic, Eshraq has a strong portfolio of premium residential, commercial and touristic real estate developments in the UAE, and is committed to its vision of becoming one of the major real estate developers of urban projects.

Jassim Alseddiqi said: “I am thankful to the Board of Directors for entrusting me this exciting opportunity to lead Eshraq Properties, a company with strong fundamentals, to a new era of growth and long-term value creation for all stakeholders. The UAE’s positive growth, led by its visionary leadership, offers a strong platform to drive the diversified operations of Eshraq. Our new growth strategy is focused on creating prime real estate assets in Abu Dhabi and Dubai, exploring opportunities for further expansion in the country and across the globe.”

Alseddiqi said that the potential for Eshraq in redefining the property and hospitality sector is tremendous. “We will evaluate new investment opportunities and strategic partnerships that will build our portfolio and footprint. On the financial side, we are committed to optimizing resource use, and to achieve long-term profitability for our stakeholders.”

The Managing Director & Chief Executive Officer of Abu Dhabi Financial Group, Alseddiqi has been serving as a Board Member of Eshraq Properties. He is the Chairman of Reem Finance, Integrated Securities, and Integrated Capital PJSC. He serves on the Board of FGB, GFH Financial Group, TDIC and Abu Dhabi Capital Group.

Alseddiqi holds an MS in Electrical & Computer Engineering from Cornell University and a BSC in Electrical Engineering from the University of Wisconsin-Madison. He has won several industry recognition including for Best Private Equity Fund from The Banker Middle East and for Outstanding Performance and Innovation from MENA Fund Manager, among others.