• HSBC

Mounir Haidar, Chief Executive Officer at Sorouh, resigns

  • United Arab Emirates: Thursday, September 17 - 2009 at 12:19
  • PRESS RELEASE

Sorouh Real Estate PJSC, the Abu Dhabi-based real estate developer, announces that Mr. Mounir Haidar has resigned from his position as Chief Executive Officer next month.

No replacement of the CEO position in the new organisational structure is planned. Abubaker Al Khouri will continue to lead the Company as Managing Director. Gurjit Singh, currently Chief Development Officer, is promoted to Chief Operating Officer.

Mr Saeed Eid Al Ghafli, Chairman of the Board stated: "The Board expresses its sincere thanks to Mr Haidar and wishes him well in the future."

Mr Mounir Haidar commented:
"I am proud to have led Sorouh through the first years of its formation, into a regionally recognised and respected real estate company and one which has created tangible value for shareholders. Today Sorouh has an impressive portfolio of prime property developments."


"This is the right time to hand over the reins and seek new challenges and opportunities. At this juncture of my career it is the right time to move on. I leave behind a very solid company with a strong balance sheet and a world class management team."
 
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About Sorouh Real Estate PJSC
Established in June 2005, Sorouh Real Estate PJSC is one of the UAE's largest property development companies, with more than Dhs30bn worth of projects under development.

Sorouh, which is listed on the Abu Dhabi Securities Exchange (SOROUH), had as of 30 June 2009, net assets of Dhs5.9bn.

Sorouh works in close cooperation with the Abu Dhabi Government and its Plan Abu Dhabi 2030 and is involved in some of the region's most important developments.

For more details:
Sorouh Real Estate
Florence Calvet
+971 2 444 0006

Brunswick Gulf
Jeehan Balfaqaih
Ash Spiegelberg
+971 4 365 8260

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