New Arabtec CEOs for two units

Arabtec Holding on Wednesday announced appointments of new chief executives for its two subsidiaries.

The firm announced appointment of Sami Asad as Chief Executive Officer for its newly-created subsidiary Arabtec Egypt for Real Estate Development, and reporting directly to the MD and CEO of Arabtec Holding.

Sami joined Arabtec in 2013 as CEO of its Construction Group.

He played an instrumental role in driving Arabtec’s phenomenal growth, with the Company’s backlog reaching unprecedented levels.

As the Group continues to diversify its business and expand into new areas, more subsidiaries came on board. One of these is Arabtec Egypt for Real Estate Development, which will be involved in a multitude of projects, notebly the one million housing units Arabtec will develop and construct in thirteen locations across Egypt, the biggest project of its kind in the region which will be led directly by Sami.

Arabtec Holding Managing Director and CEO Hasan Ismaik said: “Mr. Asad’s strong background, proven experience in managing mega construction and engineering projects make him the natural choice for leading our new subsidiary which will focus on the real estate sector in Egypt and launch a number of mega projects.”

Asad brings to his new job a versatile experience of over 25 years in the development and construction field. He came to Arabtec from Abu Dhabi real estate development company Aldar, where he served as Chief Operations Officer then as Chief Executive Officer.

At Aldar, he led a massive strategic growth plan that saw the development of Yas Island as a sought after tourist and business destination, with the creation of such iconic attractions as Yas Marina Circuit, Ferrari World Abu Dhabi, Yas Waterworld, Yas Mall, Yas Links, Yas hotels, and infrastructure works. He was also in charge of a host of residential and commercial developments in Al Raha Beach, Al Falah National Housing, Central Market and other initiatives that are contributing significantly to Abu Dhabi’s economic development.

Prior to Aldar, Asad worked in the oil and gas industry as Deputy Vice President of Projects for Dolphin Energy and for Abu Dhabi National Oil Company (ADNOC) where he spent 20 years in a number of engineering executive roles.

Asad holds a Bachelor of Science in Mechanical Engineering from the high Institute of Technology in Cairo as well as a Business Administration degree from the University of Warwick in the United Kingdom.

Appointment of CEO for Arabtec Construction

Arabtec Holding announced today the appointment of Dr. Nabil Ailabouni as Chief Executive Officer of Arabtec construction.

Dr. Ailabouni will be responsible for the global operations of Arabtec construction, reporting directly to the Chairman of Arabtec Construction and Arabtec Holding’s Managing Director and CEO, Hasan Ismaik. He will lead the current pipeline of major projects and driving the company’s growth vision. His immediate focus will be on delivery of major projects recently bagged by Arabtec Construction and ensuring fulfilment of the Company’s business plans and future expansion strategies.

Dr. Ailabouni replaces Sami Asad, who has been reassigned as CEO of Arabtec Egypt for Real Estate Development, a newly formed wholly owned subsidiary of Arabtec which will engage in a host of major projects in Egypt. Sami will be in charge of the one million housing units that Arabtec will develop and construct in 13 different locations across Egypt.

Dr. Ailabouni brings to his new posting a versatile experience of executing multidisciplinary projects in the oil & gas sector, marine, commercial and residential construction sector. He joined Target Engineering in 1978 as a Civil Engineer and has through the years accepted complex assignments. Rising to the top post of CEO, Dr. Ailaboiuni used his fine leadership skills to steer Target Engineering to a leading position in its sector.
 

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