Al-Futtaim appoints Group Director, Al-Futtaim Group Real Estate

AFGRE is responsible for the signature, mixed-use urban communities Dubai Festival City and Cairo Festival City, as well as an extensive multi-million-dollar portfolio of individual corporate real estate and investment assets across the MENA region.

Mr Palmer said:

"I am delighted to have joined Al-Futtaim Group Real Estate at a time of strong growth and when there are clear opportunities throughout the MENA region."

"Al-Futtaim is well positioned to maximise the value of its existing estate as well as participate in real estate markets both domestically and globally," he added.

Mr Palmer, 46, is responsible for all operational matters across Al-Futtaim's substantial portfolio of real estate assets. His wide real estate experience with leading companies in the industry spans the residential, commercial, retail and hospitality sectors both in Asia and the UK. His immediate past role over the last three years was as Director of CIT Group Plc in London where he was co-managing over Euro 1.5bn of assets and $1bn of investment. Previously he was Managing Director of Colliers Jardine in Hong Kong, which at the time had over 120 million sq ft of commercial, retail and residential accommodation under management, 4,500 direct and indirect multi-cultural employees and was Hong Kong's largest facility manager, responsible for the housing management of 7% of Hong Kong's population. During the first part of his 16-year career in Asia, Mr Palmer was Deputy Managing Director of Savills in Hong Kong and Regional Head of Investment.

Mr Palmer is a member of the UK's Royal Institution of Chartered Surveyors and holder of an honours degree in Land Management from Reading University.