Leadership Changes at UAE Real Estate Investment Trust ENBD REIT
ENBD REIT, a Shari’a-compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced upcoming changes to its board of directors. Dr Tariq Bin Hendi, the current Chairman of the Board, will be stepping down from his role on September 30, 2023, to focus on his other business activities. He will, however, continue to be available to the company in a consultancy capacity until June 2024.
Succeeding Dr Bin Hendi as Chairman in November 2023 will be Ali Rashid Humaid Al Mazroei, who has been a director of ENBD REIT since 2018. Al Mazroei also holds various other leadership positions, including that of a Board Member of National Bonds Corporation since 2011 and Ajman Bank since 2021.
Another change to the board will occur on October 1, 2023, with Rashed Al Awadhi replacing Al Mazroei as a director. Al Awadhi currently serves as the Chief Real Estate Officer at Wasl and holds several leadership roles in organizations such as Dubai Sports Corporation, Kifaf Real Estate Development, and Amlak Finance.
Ali Al Mazroei, the incoming Chairman, expressed gratitude to Dr Bin Hendi for his leadership and welcomed Rashed Al Awadhi to the board. He emphasized the commitment to guide the business and deliver value for stakeholders.
Dr Bin Hendi himself expressed appreciation for the support and commitment of the board members, committees, management, and shareholders during his tenure as Chairman. He called it a privilege to contribute to the accomplishments of ENBD REIT.
These changes will result in a board of directors comprising the Chairman and three directors: Rashed Al Awadhi, Khalid Al Fahim, and Mark Creasey, who have been associated with ENBD REIT since 2017.
Source:
– ENBD REIT. “Dr Tariq Bin Hendi to step down as Chairman of the Board of Directors of ENBD REIT.” Al Hilal Publishing and Marketing Group. October 8, 2022. [Add URL]