Arabtec hires Aldar ex-CEO

Dubai builder Arabtec on Tuesday said it has hired the former chief executive of Abu Dhabi's Aldar Properties to head its group of construction companies.

Sami Asad will be the chief executive of Arabtec Construction Group, the contractor said in an emailed statement, adding he will be in charge of the global operations of the group.

Asad, who was CEO of Aldar since 2010, stepped down from his role on Aug 15.

Arabtec underwent a major management shakeup in February, replacing its founder and Chief Executive Riad Kamal with Abu Dhabi-based private investor Hasan Abdullah Ismaik.

In his new role at Arabtec, Asad will report directly to Ismaik and will focus on leading the current pipeline of projects, while also driving the company's future growth, the statement said.

Arabtec today announced that its operations in Egypt are progressing normally according to schedule, despite the civil unrest in the country.
The company's Managing Director and CEO, Hasan Abdullah Ismaik, said in a statement, "We are continuing with our operations in Egypt to ensure we are able to successfully meet the needs of our clients."

He added, "We will do our best to establish a strong presence in the Egyptian market, to take advantage of the high potentials it holds for us."

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