Corporate governance

Mr Hussain Sajwani

CHAIRMAN

Mr Hussain Sajwani founded the DAMAC Group in 1992 and has served as its Chairman since its establishment in its current form in 2002.

Mr Hussain Sajwani founded the DAMAC Group in 1992 and has served as its Chairman since its establishment in its current form in 2002.

Being one of the pioneers of Dubai’s property market expansion, Mr Sajwani built and sold several hotels in the mid-1990s to accommodate the growing influx of people to the country for the purposes of business and trade. Having contributed to DAMAC’s growth from its inception, in October 2011, under Mr Sajwani’s initiative, the DAMAC Group launched its hospitality division, which will ultimately provide bespoke services to residents in more than 13,000 luxury branded apartments and villas in DAMAC projects, currently under development.

Mr Sajwani received his Bachelor of Arts degree in Economics from the University of Washington in the United States.

Mr Ziad El Chaar

MANAGING DIRECTOR

Mr El Chaar graduated with a Bachelor of Science in Biology in 1990 and received a Master of Business Administration in 1998 from the American University of Beirut.

Mr El Chaar graduated with a Bachelor of Science in Biology in 1990 and received a Master of Business Administration in 1998 from the American University of Beirut.

From 1993 to 2005, Mr El Chaar worked for Fattal Holding, which is the largest distribution and representation company in the Levant (Lebanon, Syria, Jordan and Iraq). From 1997 to 2001, he was General Manager in Syria for the same company, during which time he turned the sales and distribution parts of the business in Syria from loss making to profit generating within three years. From 2001 to 2005, Mr El Chaar was Group Executive Director of Fattal Holding and remained on the board of that company until 2008.

Mr El Chaar joined DAMAC in 2005 as Vice President of International Sales. He became International General Manager in 2006 and remained in that role until the beginning of 2009 when he became General Manager of Operations. Since the beginning of 2011, Mr El Chaar has been the Company’s Managing Director.

Mr Adil Taqi

GROUP CHIEF FINANCE OFFICER

Mr Taqi graduated with a Bachelor of Science in Mathematics-with-Engineering in 1993 from the University of Nottingham in the UK and received an executive MBA in 2004 from IMD in Switzerland. He is also an associate and member of the Chartered Institute of Management Accountants in the UK. His experience covers both emerging and developed markets, including the MENA region and the United Kingdom.

Mr Taqi graduated with a Bachelor of Science in Mathematics-with-Engineering in 1993 from the University of Nottingham in the UK and received an executive MBA in 2004 from IMD in Switzerland. He is also an associate and member of the Chartered Institute of Management Accountants in the UK. His experience covers both emerging and developed markets, including the MENA region and the United Kingdom.

In addition to being the Group Chief Finance Officer, Mr Taqi heads up the Business Development Team managing all of DAMAC Properties’ real estate investments. Prior to joining the Company in 2006, he held various senior management roles in a number of Omani banks and financial institutions.

Mr Taqi is currently on the board of a number of high profile private and public companies in the MENA region, including Al Anwar Ceramics Tiles Company SAOG and Al Jazeira Services Co SAOG.

Professor John Wright

Senior Independent Director

Professor Wright was educated at Daniel Stewarts College, Edinburgh. He is an associate and fellow of the Chartered Institute of Bankers in Scotland and a fellow of the Chartered Institute of Bankers in Ireland.

Professor Wright was educated at Daniel Stewarts College, Edinburgh. He is an associate and fellow of the Chartered Institute of Bankers in Scotland and a fellow of the Chartered Institute of Bankers in Ireland.

Professor Wright’s career in commercial banking spans over 43 years and includes assignments in the UK, India, Sri Lanka, West Africa, Canada, Hong Kong and the United States. Prior to his retirement in 2001, he held positions as: Chief Executive and Director of Clydesdale Bank PLC and Yorkshire Bank PLC; Chief Executive and Chief General Manager of Gulf Bank KSC, Kuwait; Chief Executive and Director of Northern Bank Limited, Belfast and Northern Bank Limited, Dublin, as well as a Director and Chief Executive Officer of the Oman International Bank.

Currently Professor Wright holds the position of a Non-Executive Director (including the roles of Chairman and Chair of the Audit Committee) across a number of industries, including banking, retail, manufacturing, information technology and trusts, including amongst others, roles with Butterfield UK Limited, Boomer Industries Limited, XM International Associates Limited, European Islamic Investment Bank Limited, Alsbridge plc, the Arab Financial Forum and Borders College. He is also a visiting professor at Glasgow University Business School.

Mr Farooq Arjomand

Non-Executive Director

Mr Arjomand received his Bachelor of Business Administration (BBA) from Seattle Pacific University in the United States in 1984. He began his career as a banker at HSBC in 1985 and gained extensive experience of private banking, corporate finance, trade services and investment banking.

Mr Arjomand received his Bachelor of Business Administration (BBA) from Seattle Pacific University in the United States in 1984. He began his career as a banker at HSBC in 1985 and gained extensive experience of private banking, corporate finance, trade services and investment banking.

Mr Arjomand founded the Arjomand Group of companies in 2000. The Group conducts various activities including real estate, manufacturing, trades, financial activities and aviation across the GCC, Asia, Europe and the US. Mr Arjomand is also a board member of Al Ahlia Insurance Company BSC, Bahrain.

Mr Yahya Nooruddin

Non-Executive Director

Mr Yahya Nooruddin has over 20 years’ experience in local and regional financial markets, with a proven track record of building organisations and leading them to the forefront of their respective industries. He holds academic and professional degrees in the areas of marine engineering, law and financial management, including a master’s degree in law from the Beirut Arab University.

Mr Yahya Nooruddin has over 20 years’ experience in local and regional financial markets, with a proven track record of building organisations and leading them to the forefront of their respective industries. He holds academic and professional degrees in the areas of marine engineering, law and financial management, including a master’s degree in law from the Beirut Arab University.

Mr Nooruddin is currently the Chief Executive of T’azur, which provides Family and General Takaful products for individuals and businesses. Prior to joining T’azur, hewas CEO of the Al Imtiaz Investment Company in Kuwait from 2008 to 2011, following 12 years at Al Ahlia Insurance Company.

Mr Nabil Alyousuf

Non-Executive Director

Mr Nabil Alyousuf, an investor and entrepreneur, is the Chairman of Nabil Alyousuf & Associates, and a partner in Al Jal Capital, a UAE-based private equity firm. He is also the Chairman of Sadara, the largest real estate developer in southern Iraq, and Chief Executive Officer of the International Advisory Group (IAG). He sits on several NGO boards.

Mr Nabil Alyousuf, an investor and entrepreneur, is the Chairman of Nabil Alyousuf & Associates, and a partner in Al Jal Capital, a UAE-based private equity firm. He is also the Chairman of Sadara, the largest real estate developer in southern Iraq, and Chief Executive Officer of the International Advisory Group (IAG). He sits on several NGO boards.

Previously, Mr Alyousuf was Director General of The Executive Office of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai. He led the development of Dubai Strategy 2015; established the Dubai School of Government; and was in charge of the Dubai Government Excellence Program.

In 2010, Mr Alyousuf was chosen as a Young Global Leader by the World Economic Forum. He holds a Master of Business Administration degree from The University of Strathclyde, a Master of Science in Operations Research from Georgia Institute of Technology and a Bachelor of Science in Industrial Engineering from The University of Arizona.