Omar Al Shunnar, a UAE national, was earlier Chief Executive Officer of a privately owned start-up. He has served as Project Manager of the development team that worked on the Dubai Healthcare City prior to its official launch and was later appointed to the position of Chief Sales and Marketing Officer.
Having served as Finance and Operations Director with Dubai Development and Investment Authority, he has extensive banking and finance experience too, and was Head of Cash Management at Borouge Pte Ltd, Singapore. He also worked with Standard Chartered Bank, Singapore and Citibank, Dubai. A finance graduate from the University of Denver, Colorado, Al Shunnar served on the board of directors of Mohammed Bin Rashid Establishment for Young Leaders, and is a first batch graduate of the Mohammed Bin Rashid Programme for Leadership Development.
"Healthcare is one of our priority growth sectors," said Mr Mohamed Ali Alabbar, Chairman, Emaar Properties. "It fits perfectly well with our core competency of developing master-planned communities and complements our expansion into the education sector. Having steered the sales and marketing operations of Dubai Healthcare City, Omar Al Shunnar brings in a wealth of domain knowledge and experience to strengthen Emaar's healthcare services plans."
Emaar's move into healthcare is in line with the company's Vision 2010 of becoming one of the most valuable companies in the world. As part of its portfolio diversification programme, Emaar will develop and manage over 100 hospitals in the Middle East and North Africa (MENA) and South Asian markets in the next ten years.
"Healthcare business is not driven by a simple demand and supply equation," said Omar Al Shunnar. "What makes the true difference is quality - not just of the medical services provided but also of the infrastructure support offered. We have a clearly delineated development plan for the healthcare sector, which involves integrating advanced medical infrastructure in key centres. Emaar Healthcare will also strike strategic partnerships with international specialists to set best practice standards in the region."
The healthcare market of MENA and South Asia, excluding medicine and pharmaceuticals, is currently estimated at AED 36.7 billion (US$10 billion) per annum. A recent United Nations report said most MENA and South Asian countries spend less than 5 per cent of their GDP on public and private healthcare services. "Emaar Healthcare will step in to meet this need for quality healthcare services also through public and private sector partnerships," added Al Shunnar.
Emaar has several UAE nationals on key senior managerial positions underscoring the important role they play in building the prospects of the company and the country.
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Emaar appoints Omar Moawiyah Al Shunnar to head new healthcare division
- United Arab Emirates: Tuesday, December 12 - 2006 at 13:28
- PRESS RELEASE
Global real estate major Emaar Properties has appointed Omar Moawiyah Al Shunnar as Executive Director of Emaar Healthcare, the company's healthcare subsidiary, which has announced plans to invest AED 18.35 billion (US$5 billion) in the sector.
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About Emaar Properties PJSC:Emaar Properties, the Dubai-based Public Joint Stock Company and one of the world's largest real estate companies, is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index. The company recently announced that its net profits for the three quarters ended September 30, 2006 reached AED 4.658 billion (US$1.268 billion) - a significant gain of 26 per cent over the same period in 2005 - reflecting the remarkable growth the company has gained since its inception in 1997.
With more than 14,500 homes handed over to customers, Emaar has several major real estate projects under various stages of development in Dubai. An ISO9001:2000 quality certified company, Emaar is marching ahead with the construction of its AED 73 billion (US$20 billion) Downtown Burj Dubai mixed-use development that encompasses Burj Dubai, the world's tallest tower when completed in 2008.
The company has joint ventures and projects across the region covering Saudi Arabia, India, Egypt, Turkey, Morocco, Bahrain, Syria, Jordan, Pakistan, Lebanon and Tunisia. In Saudi Arabia, Emaar is developing the US$26.6 billion (SR 100 billion) King Abdullah Economic City, the single largest private sector project in the Kingdom.
Emaar also entered the US market by acquiring John Laing Homes, the second largest privately held homebuilder in the US for AED 3.856 billion (US$1.050 billion). Emaar joined hands with The Turner Corporation, a leading international building services provider, to form a new entity, Turner International Middle East Ltd (Turner International ME) to jointly tap regional growth opportunities.
In a move that scaled up its core competency in product sales across the international arena, particularly the Western hemisphere, Emaar acquired Hamptons International, the UK-based subsidiary of premier property developer Wheelock Properties (Singapore) Ltd in a deal worth AED 562.45 million (US$153.05 million).
Last year the property developer announced plans to aggressively expand the retail sector with investments of over AED 15 billion (US$4 billion) to develop approximately 150 malls in the larger emerging markets of the Middle East, North Africa (MENA) and the Indian subcontinent. In addition, Emaar has teamed up with Giorgio Armani S.p.A to build and manage 10 Armani hotels and resorts across the world; an Armani hotel will feature in Emaar's flagship Burj Dubai tower.
Emaar's education initiative will involve the establishment of international schools in the MENA region and India, which will offer premium quality education and an integrated curriculum for students ranging from kindergarten to tertiary levels. Emaar's healthcare diversification will see the company invest around AED 18.35 billion (US$5 billion) over the next decade in the MENA and South Asia markets with the construction of hospitals, clinics and medical centres and the investment in the provision of world-class healthcare services.
Emaar has diversified into related business lines to further build value for its shareholders, which includes the Government of Dubai. Emaar owns and manages EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. Emaar also holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking and is the majority shareholder in Amlak Finance, UAE's leading Islamic home financing company.
For further information, please contact:
Kelly Home / Nedal Alasaad
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa
Tel: (+971 4) 335 5969; Fax: (+971 4) 335 6080
Anne-Birte Stensgaard, Senior News EditorTuesday, December 12 - 2006 at 13:28 UAE local time (GMT+4)
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This article was updated on Sat Jan 13 2007.
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