17 March 2021
- Walid El-Hindi appointed CEO of Real Estate to build on SHUAA’s significant sector presence
- Ex-IMKAN Properties CEO brings more than 25 years of experience in the global real estate sector
United Arab Emirates, 17 March 2021: SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, has announced the appointment of Walid El-Hindi as its CEO of Real Estate with immediate effect.
Walid will be responsible for managing SHUAA's significant real estate portfolio and activities across the value chain and multiple geographies. His role will encompass driving further growth in the Group’s real estate platform. SHUAA is already highly active in real estate investment with over USD 11 billion in Assets Under Management, development and asset management through Northacre and Astrea in the UK, Terra Real Estate Investments in the UAE and SHUAA Capital Saudi Arabia, which provide unique investment opportunities across the region. In 2020, the business achieved a number of key milestones in London, including the topping out of Northacre’s landmark redevelopment of The Broadway and will begin handing over apartments at its No. 1 Palace Street development in the coming months.
Walid brings with him a wealth of experience in the real estate sector spanning over 25 years. Previously, he spent five years as CEO at IMKAN Properties where he led the establishment and growth of the company into one of the leading property developers in the Middle East. During this time, he was responsible for building a portfolio of developments now valued at over AED 100 billion and comprising 26 projects across six countries. Walid was also a board member and Managing Director of IMKAN Misr, a board member of IMKAN Maroc, as well as a board member of HHRM, an international hotel management company.
Prior to this, Walid worked as Chief Development Officer for Emaar Misr and managed an international portfolio of developments with a value of more than USD 12 billion. He began his career as an architect and real estate developer in the United States after earning a Bachelor of Architecture degree from the University of Minnesota, where he also subsequently taught architecture as an adjunct faculty member.
Jassim Alseddiqi, Group Chief Executive Officer of SHUAA Capital, said, "We are delighted to welcome Walid to the team. We have built SHUAA's real estate platform into one of the leading real estate investors and managers in the region, with a multi-billion dollar portfolio of projects and assets. We remain excited about the growth potential of our real estate offering and Walid's international experience in this space will greatly enhance our efforts to further strengthen our presence across geographies."
SHUAA recently announced its FY 2020 results, in which the group reported a 168% increase in net profit to AED 125 million and EBITDA of AED 349 million, up 89% year on year. The Board is recommending the payment of the first dividend to shareholders since the merger in 2019, of 3 fils per share totaling AED 76 million.