Ithmaar Development Company (IDC) announces three senior appointments

IDC's upcoming projects in Bahrain include the soon to be launched $1.6bn Health Island project, as well as the $175m Serai hotels project in the Seef District and the $1.2bn Aljazayer Beach Resort, which will completely revamp the existing facility and turn it into a world class attraction for residents and tourists alike. IDC will also be announcing other developments, similar in scope, in other countries.

'The Bahrain-based projects that make up our initial portfolio will have a major impact on the Kingdom, contributing positively to economic growth and job creation, while improving the standard of living of nationals and residents. The Health Island and Aljazayer projects in particular, are expected to positively impact lifestyles and become important parts of Bahrain's infrastructure,' added Alsayed.

Project Manager, Infrastructure Sawsan Mahmood Taqi, Manager, Planning & Research Sudhakar Pidaparty and Executive Director, Isa Ebrahim, all reporting to IDC CEO Mohammed Khalil Alsayed, will be closely involved in the Company's growing portfolio, which currently includes real estate projects worth approximately $2.9bn.

'World class projects, such as the ones that IDC is involved in, require a top management team. Fortunately, Bahrain has no shortage of local talent and we have been able to find the right people locally,' said IDC CEO Mohammed Khalil Alsayed.

'Sudhakar, Sawsan and Isa have all held senior positions at Bahrain ministries, where they have been involved in major public sector initiatives, including some of the Kingdom's biggest real estate and infrastructure projects,' he continued.

Taqi is a specialised Engineer in planning and development with more than 20 years of experience. She comes to IDC from Bahrain's Ministry of Electricity & Water (MEW), where she served in various engineering positions, latest as Head of Network Planning & Design. She has been involved in MEW's technical approvals of many multi-million dollar projects around the country, including Amwaj Island, Bahrain Financial Habour and Al Futtaim City Center. She holds a B.Sc. Degree in Electrical Power Engineering from the University of Texas at Austin and an MBA from DePaul University - Chicago, USA, both with Honours.

Pidaparty, an Indian national, comes to IDC with more than 15 years of experience in financial planning, analysis and management reporting in the manufacturing, trading and banking & finance sectors. A Member of the Institute of Chartered Accountants of India, he trained with the Chennai branch of SB Billimoria & Co. (an erstwhile member of Ernst & Young) in India. Immediately prior to joining IDC, Pidaparty was the Advisor to the Directorate of Budget at the Kingdom of Bahrain's Ministry of Finance (MOF) since 2004. He advised on a range of issues, including the preparation of the national budget. He had previously served in various capacities within the government, with stints in the private sector, mainly in India.

Ebrahim has around 21 years of experience in finance, budgeting and macro-economic management, including 13 at senior levels. Immediately prior to joining IDC he was the Assistant Undersecretary for Human & Financial Resources at Bahrain's Ministry of Information, where he was responsible for all its administrative and financial activities. His additional responsibilities in the recent past include stints as Managing Director of Al Jazeera Tourism Company & Vice Chairman of Bahrain Family Leisure Company, amongst others. Earlier, he held senior positions at the Kingdom's MOF where he served as a Director and also previously as Head of Budget Coordination and Senior Financial Analyst. He holds a BA in Economics (with Honours) from St. Edward's University in Austin, Texas, USA and also completed the Executive Development Programme conducted by the Darden Graduate School of Business Administration at the University of Virginia, USA and a course on 'Budgeting in the Public Sector' conducted by Harvard Institute of International Development in Boston, USA. He has engaged extensively with senior counterparts in the governments of the gulf region, members of the legislature and multi-lateral agencies like the World Bank & IMF, amongst others.