Abu Dhabi's Aldar Properties Names Samy Asad as New CEO

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(ABU DHABI, UAE) -- The Board of Directors of Aldar Properties, Abu Dhabi's leading property development, management, and investment company, today announced that Sami Asad, currently Aldar's COO, will succeed John Bullough who resigned last week as CEO. Mohammed Khalifa Al Mubarak will act as Deputy Chief Executive Officer while continuing as Chief Commercial Officer (CCO).

As COO, Asad delivered the first phase of Yas Island ahead of the inaugural Formula 1™ Etihad Airways Abu Dhabi Grand Prix in 2009, the Souk at Central Market, and Al Bandar, the first residential community at Al Raha Beach.  He joined Aldar in 2008 as Technical Director and was promoted to COO following John Bullough's appointment as CEO the same year. Previously, Asad was Deputy Vice President of Projects at Dolphin Energy and occupied managerial positions at ADNOC.

As CCO, Al Mubarak grew the Sales & Leasing, Property & Asset Management, and Facilities Management units at Aldar. Earlier he worked for Barclays Capital in London.  A native of Abu Dhabi, he graduated from Northeastern University (USA), with a double major in economics and political science.

Aldar Chairman Ahmed Ali Al Sayegh said that the "in-depth knowledge of the company" of Asad and Al Mubarak made them "the natural team to guide the business through the next stage of its evolution and together they will ensure the company continues to focus on its role as a key contributor to the Abu Dhabi 2030 plan."

Al Sayegh recognized that Bulloch had made a "significant commitment to Aldar" and added, "his experience and contribution have been invaluable in the development of the company during his tenure as Chief Executive Officer and previously as Chief Operating Officer."

Aldar's diverse property portfolio includes major developments and re-developments within Abu Dhabi including Yas Island, Al Raha Beach, Central Market, Al Falah, Motor World, Nareel Island, and Noor Al Ain. The company owns over 50 million square meters of land in strategic locations throughout Abu Dhabi emirate.

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