New direction for Jones at Asteco

An industry veteran with over 30 years' experience in the Middle East, Jones founded Asteco in 1985 and during that time has built one of the most respected and successful property management companies in the region.

"I have been in discussion with my fellow Asteco board members for some time now, regarding my ever increasing responsibilities. Therefore following the recent AGM, I will be stepping down from the day-to-day operation to devote more time to my other business interests," commented Jones.

Moving into a supportive CEO role at Asteco will be Abdulla Bin Sulayem, who will now be responsible for driving the business forward, continuing the successful business strategy and laying foundations to secure the long term future of Asteco.

"First of all I would like to thank Elaine for her tireless efforts forging Asteco into the market-leading company it is today. Reluctantly the board has agreed to Elaine's request, but it would like her to carry on in a consultancy role," said Abdulla Bin Sulayem, CEO, Asteco.

"Asteco has nine million square feet of property under management and I will continue to drive our commitment to quality and customer service. There are no further changes planned at Asteco, it is very much business as usual," added Bin Sulayem.

Bin Sulayem, is no stranger to the UAE's real estate market and will combine his new responsibilities with his existing role at Seven Tides, Dubai real estate developer and hospitality consultancy, where he has been CEO for the past two years. A graduate from Middlesex University, Bin Sulayem was operations director at Nakheel, before joining Seven Tides.