Arady announces the appointment of Jassem Saleh Busaibe as its Chief Executive Officer

Busaibe, a UAE National, previously held the position of Chief Investment Officer at the company before this appointment was made. He has been with the company since October 2008.

Prior to joining Arady, Busaibe was Senior Vice President in the Private Equity Department for Abu Dhabi Investment Company where he also served on its Investment Committee. Busaibe started his career in ADIA as Portfolio Manager at its London Office.

Throughout his career, Busaibe has positioned himself as a leader with acute business acumen and a thorough working knowledge of capital markets. He commented on his appointment, "It is clear that Arady's prospects are bright despite the turbulence affecting our markets in the immediate future. The not inconsiderable achievements of this young company provide a solid foundation for us all to build on. Arady's core assets, however, are its people, and I feel confident that this high calibre team will work tirelessly towards a bright and prosperous future."

HE Sheikh Hamdan bin Mubarak Al Nahyan, Chairman of Arady added, "With his extensive investment experience and strategic real estate expertise, I'm confident that Jassem will continue to contribute to Arady's growth and successs."

Ali H Lakhraim, Executive Vice Chairman and founder of Arady PJSC will step down from the day to day running of the company. He said of the appointment: "Jassem brings the perfect combination of execution and vision to Arady. Arady is well positioned for further growth and expansion of the company's impressive record of innovation and shareholder return."

Busaibe is a CFA charterholder and has an MSc in Finance from London Business School. His appointment is effective immediately.