Al Raqbani handed key role as Emaar Industries and Investments targets new business avenues

EII, which is committed to assembling a large scale portfolio of 'new industry' businesses, today announced it had appointed Mohammed Saeed Al Raqbani, a UAE national, its new Deputy Chief Executive Officer. He has been given the specific brief to explore local and regional new business avenues and increase opportunities in the core domestic market.

With the current subsidiaries showing revenue and capital growth of anything up to 300 per cent, the group has moved to capitalise on the foundation it has built and now seeks to multiply the number of subsidiaries under its banner in the next few years. One outcome will be the development of a dynamic local sustainable industry sector in the region and opportunities and manufacturing skills for national citizens.

Dr. Ahmed Khayyat, Chief Executive Officer of EII, said: "The appointment of Mr. Raqbani is a defining moment for the Group. This is a sign of our commitment to consolidating our base in our core market and marks the rapid progress that has been made in extending the industrial and specifically manufacturing capabilities of this region. The future lies in manufacturing and we have opened a window of opportunity which will encourage the proliferation of industrial activity and create new career pathways for the people of the UAE in line with the vision of HH. Sheikh Mohammed, Vice President and Prime Minister of the UAE, and ruler of Dubai.

"Mr. Al Raqbani will be an important contributor to realizing our vision of a multi-faceted diversified industrial UAE that has the capacity to make a huge impact on the national economies."

Mr. Al Raqbani, whose experience ranges from real estate, construction to manufacturing and financial institutions such as Lloyds Bank, will have a special focus on areas such as government relations and corporate citizenship. He has been assigned the task of ensuring that as it grows, EII builds bridges to its host and local communities and its subsidiaries' product mix is in tune with its core markets.

Mr. Al Raqbani said: "I feel very privileged to be asked to take on this role. EII is a big, growing and very successful business and I am proud to be assigned a major role in taking it forward. It is of course far more than just another business. EII is developing into the leading conduit for industrial development and investment in the region.'

"It has key specialisms that will drive UAE and GCC industrial development and give it its own character. Its specialist areas of expertise are of the highest standard and will see it become a leader in sectors such as industrial zones management - which will help establish the core infrastructure - and a pacesetter in 'new and light industries'.

As EII's strategy moves forward, Mr. Al Ragbani's role in consolidating the existing businesses and extending their scope and markets will grow. He said: "The group has gone past the stage of talking about potential. It has established a very successful track record and is looking to roll out and extend the model. This is a marvelous time to be involved with the sector poised to take off in the region."