AQARAT - Key Persons
Job Titles:
- Real Estate Development
- VP - Real Estate Development
Eng. Abdul Aziz Al-Meajel graduated from Kuwait Engineering and Petroleum University, with a Bachelor of Architecture degree in 2003. He has been a member of Kuwait Engineers Society since 2004.
He has over 10 years of professional experience in the design, construction, and management of real estate development projects. He has worked passionately on various residential, commercial and service rendering projects of value ranging from KD 6 Million to KD 12 Million.
He began his professional career working for an engineering firm in Kuwait, where he managed all of the architectural and engineering aspects of real estate development projects. He joined Kuwait Real Estate Company in 2010 and currently heads the Real Estate Design & Development team that serves as KREC's engineering arm, directing the realization of its innovative projects. He is responsible for ensuring effective management of design and construction of development projects in the company, certifying the fulfillment of the project's technical requirements as well as conformance to quality, schedule and cost.
His recent experience has focused on the design, construction and management of renovation of high-value residential and commercial projects, with the objective of preserving the company's landmark properties while upgrading them for modern use. Through this assignment, he demonstrated that the investment value of the company's existing landmark assets in the prime locations could be increased by retooling the project with modern amenities and technological innovation, by increasing the visual appeal and structural stability, by using sophisticated finishing materials that would integrate well with old structure, by implementing smart building automation systems, and at the same time retaining and safeguarding the qualities, traditions and heritage that have made them endearing landmarks. He has strived to support all aspects of the company's delivery of successful real estate products, enriching the company's project portfolio.
Job Titles:
- Assistant Vice President of Finance at Kuwait Real Estate Company
Maher Sameer Khalaf is the Assistant Vice President of Finance at Kuwait Real Estate Company. He first joined the organization in 2002 and has been actively serving it for more than 18 years.
Mr. Khalaf is responsible for the planning, implementation, and management of all the finance activities of the company, including business planning, budgeting, forecasting, lenders negotiations and compliance.
In carrying out his duties at Kuwait Real Estate Company, Mr. Khalaf collaborates closely with the organization's Executive Management in aligning the financial needs with the resources to achieve the overall Company short, medium and long-term strategies. His role has been pivotal in ensuring that informed decisions are consistently made and that the business is directed through a clear vision towards realizing its purposes and objectives.
Mr. Khalaf holds a B.Sc. in Economics from the Faculty of Economy - Damascus University in Syria.
Job Titles:
- Finance
- Finance Assistant VP - Finance
Maher Sameer Khalaf is the Assistant Vice President of Finance at Kuwait Real Estate Company. He first joined the organization in 2002 and has been actively serving it for more than 18 years.
Mr. Khalaf is responsible for the planning, implementation, and management of all the finance activities of the company, including business planning, budgeting, forecasting, lenders negotiations and compliance.
In carrying out his duties at Kuwait Real Estate Company, Mr. Khalaf collaborates closely with the organization's Executive Management in aligning the financial needs with the resources to achieve the overall Company short, medium and long-term strategies. His role has been pivotal in ensuring that informed decisions are consistently made and that the business is directed through a clear vision towards realizing its purposes and objectives.
Mr. Khalaf holds a B.Sc. in Economics from the Faculty of Economy - Damascus University in Syria.
Job Titles:
- Vice Chairman
- Human Resources
- Human Resources Assistant VP - Human Resources
Mr. Mohammed Al-Hamad is one of the most tenured members of the KREC management team. Joining the company in 1996, he has over 20 years of diverse experience within large-scale organizations and more than 12 years of experience in Human Resources, Training & Development and Management Re-staffing. He is a highly motivated professional that is adept at sourcing qualified talent in medium-to-large corporations in both the public and private sectors. He completed his Bachelors of Commerce from The Advanced Academy, Cairo, Egypt in 2009, and holds a Management Diploma Certificate from the Commerce College, Kuwait (1990).He has enhanced his competencies through the years by attending numerous renowned training courses in various fields and disciplines; such as management , human resources , computer applications , administration law and labor.
In 2011, Mr. Al-Hamad became the first ever Human Resources Manager appointed to the KREC management team. Since joining the firm, he has excelled in establishing policies and procedures that meet both the corporate and staff needs. He has been able to successfully retain talent and decrease employee costs as well as identify critical issues facing the human resources department and implement effective solutions to those problems. He has always been passionate about people and development and has shown the ability to facilitate change in individuals and teams. He has excelled in empowering management to increase the emotional commitment and effort of their employees and helping them to develop a clear and shared vision that all levels of personnel take ownership of and in turn make improvements in areas such as productivity, teamwork, communication and morale.
His initial task in the department was to assists the executives of the company in establishing a clearer and more defined organizational chart that would help the company achieve its ambitious plans for the future. Mr. Al-Hamad's most significant achievement since becoming HR manager has been the complete overhaul of the payroll and human resource management system. The new software has allowed both management and employees to streamline a varied amount of requests and approvals, saving the company time and capital.
In addition to his duties, Mr. Al-Hamad is also assigned to follow up with shareholders' inquires and co-ordinates the distribution of invitations for the general assemblies of the company.
Mr. Al-Hamad currently serves as a vice chairman in Zamzam for Religious Tourism and vice chairman and CEO of the Financial Group of Kuwait Holding Co. In addition, he is the manager for AlAqdain United for Marketing & Advertising.
Job Titles:
- Associate
- Manager
- Member of the Management Team
- Vice President
- First Investment Company As an Assistant Manager, Investments
- VP - Property Management
Mr. Bader Al Hajri currently serves as Vice President, Real Estate Department in Kuwait Real Estate Company starting from 2016 with more than 16 years of experience in real estate investments and public relations.
Bader Al Hajri graduated from Kuwait University in 1999 with a bachelor degree in Business Administration, major in marketing. He began his professional career in 2000 working in Dar Investment Company with several projects in Qatar and Kuwait, then he joined Gulf Investment House Company for more than 3 years managing several projects within Kuwait and abroad with a total portfolio of KD 500 million per project.
Starting from 2006, Mr. Bader Al Hajri has joined First Investment Company as an Assistant Manager, Investments acquiring experience of more than 6 years in real estate investments with important companies.
In 2011, Mr. Bader Al Hajri was appointed as Manager, Private Banking in Boubyan Bank where he was responsible for all retail transactions, banking instruments including deposits and financing, and many other banking services provided under his supervision.
Mr. Bader Al Hajri has also joined an important associate, FAST Telco where he was Vice President, Government & VIP Relations showing great efficiency in establishing the Company's relations with all State governmental and nongovernmental organizations.
Mr. Bader Al Hajri has good reputation and wide and strong connections with many companies, associates and State organizations. In his current position, He is devoting his extensive experience through the real estate department in order to re-establish good relations and to improve the Company's efficiency.
Job Titles:
- Investment & Acquisitions
- Position of Investment & Acquisitions Manager at KREC
- VP - Investment & Acquisitions at Kuwait Real Estate Company
Mr. Fahad Al-Shamlan currently serves as the VP- Investment & Acquisitions at Kuwait Real Estate Company. Throughout his career, Mr. Al-Shamlan has over 12 years of international investment and development expertise and has worked on projects with an overall valuation exceeding KWD 1.5 billion in a multitude of regions ranging from the Middle East, North America, the Carribean, Southeast Asia and Southern Africa.
During this time, he has been based in five different locations, including Miami, Florida, USA, Dubai- UAE, Bangkok- Thailand, Durban- South Africa, Beirut- Lebanon and Kuwait City- Kuwait. Mr. Al-Shamlan's comprehensive academic background includes an undergraduate degree in Architecture (B-ARCH 2000) and an MBA in Finance and International Business (MBA-2004), both from the University of Miami. He has diverse experience managing large-scale real estate acquisition and development projects.
Mr. Al-Shamlan began his career at Forbes Architects in Miami, FL as an architectural draftsman, he was subsequently elevated to the position of Associate Project Manager within eight months, where he led the design and development team for several projects. His accomplishments included leading project programming teams that included design professionals, contractors, and partners; forming world-class design teams, managing vendor contracts and relationships as well as setting construction contract budgets. Mr. Al-Shamlan initiated new construction management methodologies for the company, employing more sophisticated construction methodologies into commercial development projects. While at Forbes, his clients included American Express, FedEx, American Classic Voyages, Government Services Administration (GSA), Colonial Bank, Allstate Insurance, Ryder Systems, Union Planters Bank, United Parcel Services, and Florida International University, among others.
Upon receiving his MBA in 2004, he joined Global Destinations Development LLC in Miami, FL. Established in 2001, Global Destinations is an independent real estate development firm and consultancy specializing in the financing, planning and development of Caribbean resort hotels and cruise ship destinations. The firm partners with international hotel brands, luxury cruise lines, and private equity. His responsibilities at Global encompassed consultancy in feasibility, finance, deal structuring, design & branding, and political economy & risk assessment. Clients and partners included Lehman Brothers, Hilton Hotels Corp., Government of Canada, Government of Bahamas, Government of Turks and Caicos, Government of Aruba, Carnival Ports Corp., Royal Caribbean Ltd. as well as a host of others.
Mr. Al-Shamlan's most recent experience has been with a variety of organizations that fall under the IFA Group of Companies. In May 2008, he joined IFA Hotels & Resorts, a Dubai-based real estate investment company specializing in high-end resorts and accompanying branded residential real estate as Investment & Acquisitions Manager. He was brought aboard with the intent of establishing an acquisitions pipeline to North America as well as to expand the company's assets in Asia.
Upon the collapse of Lehman Brothers and the onset of the global financial crisis in September 2008, Mr. Al-Shamlan was relocated to Bangkok, Thailand in order to spearhead the financial and operational reorganization of Raimon Land PLC, a listed company on the Bangkok Stock Exchange that was controlled by the IFA Group. While managing the reorganization of Raimon Land PLC, the company was able to restructure over KWD 60 million in debt, divest of over KWD 25 million worth of assets, and reduce the operating costs of the company by 55%.
Subsequent to the completion of his assignment in Bangkok, and in part due to his previous background as an architect, he was seconded to Durban, South Africa in order to facilitate the completion of construction on the Fairmont Zimbali Resort prior to the opening of the 2010 World Cup. Following the successful opening of the Fairmont Zimbali Resort, Mr. Al-Shamlan was relocated to Beirut, Lebanon to expedite the opening of the first phase of the Al-Abadiyah Hills resort in Bhamdoun, a KWD 43 million master-planned development which includes villas, condominiums, and Kempinski Resort.
Most recently, in February of 2011, Mr. Al-Shamlan was appointed to the position of Investment & Acquisitions Manager at KREC, the oldest listed real estate company on the Kuwait Stock Exchange. In his current position, he oversees an overall portfolio with a value of over KWD 190 million that consists of a mix of income producing residential, retail and office assets as well as a significant land bank spanning the Middle East, Europe and North America. Since joining the firm, he has led the expansion of the company's asset base in mature markets including Europe and the United States in order to counteract the effect of the instability caused by the political upheaval in the Middle East. In this time, Mr. Al-Shamlan has been able to convert previously held, non-performing assets into a portfolio of single tenant retail assets currently yielding an unleveraged return in excess of 7% and which has already seen capital gains in excess of 15%. The company is poised to grow the portfolio in the coming year with the planned acquisition and development of a series of additional properties throughout the US in a variety of sectors.
During Mr. Al-Shamlan's time as head of the investment and acquisitions department,the company's market capitalization has more than doubled to over KWD 90 million & its asset base has grown by approximately KWD 20 million in the same time frame.
Job Titles:
- CEO
- Member of the Board
- Member of the Management Team
- Vice - Chairman
- Chairman of IFA Hotels & Resorts
Mr. Talal Jassim Al-Bahar is the chairman of IFA Hotels & Resorts & Vice Chairman of (IFA), one of the largest investment companies listed on the Kuwait Stock Exchange since 1987 (Ticker:IFA) and on the Dubai Financial Market since 2005.
With over twelve years in the investment sector, Mr. Talal has served in various positions during his career, starting as Chairman & Managing Director of Kuwait Invest Holding Company.
Mr. Al-Bahar has been the driving force behind IFA Hotels & Resorts' global expansion, leading the company through its listing on the Kuwait Stock Exchange in January 2006, and the subsequent creation and listing of its South African subsidiary on the Johannesburg Stock Exchange in February of the same year. Under Talal's leadership the company has tripled in size and expanded its reach to North America, Europe, Asia and further into Africa.
Job Titles:
- Assistant VP - Information Technology
- Information Technology
Mr. Naji Abou Malek serves as the AVP - Information Technology at Kuwait Real Estate Company since 2008. He has over 15 years of extensive experience in the information technology field and is knowledgeable of various Enterprise Resource Planning Systems like Oracle applications and Microsoft Dynamics; in addition to development cycles and other competencies.
Mr. Abou Malek is responsible for leading the IT Department's operational and strategic planning activities, planning and implementing risk management procedures; ensuring the smooth and optimal functioning of all IT systems; developing and implementing IT-related policies and procedures; and implementing IT service continuity management procedures. Furthermore, Mr. Abou Malek oversees the preparation and compilation of various project status reports, documentation, and planning the IT Department's budget. Throughout his tenure with the organization, Mr. Abou Malek has consistently performed his duties with the utmost efficiency and proficiency.
He holds numerous specialized certifications associated with the IT discipline - such as MSP, TOGAF 9, COBIT 5, and ITIL 2011 and Oracle Forms Certified Professional (OCP). He has acquired various business-oriented certifications - such as Managing Successful Programmes (MSP), Risk Management Professional (PMI-RMP), Project Management Professional (PMP) and Setting Up the Project Management Office (PMO).
Other competencies mastered by Mr. Abou Malek include preserving data integrity and information security. He also commands a firm knowledge of inventory and sales processes and supplier contracts and purchasing.
Mr. Abou Malek holds a B. Sc. in Computer Science from Beirut, Lebanon.
Job Titles:
- Engineer
- Facilities Management
- Head of the Facilities Management Department at KREC
Engineer Naser Al-Bader, head of the Facilities Management Department at KREC, has been with the company since 2009. With a BS in Mechanical Engineering and a MS in Engineering Management, both from Northeastern University, he has over 10 years of experience in the fields of electromechanical engineering and facilities management throughout the GCC.
Beginning his career in 2003, Eng. Naser joined Drake & Scull International (DSI), a regional market leader in providing integrated design, engineering and construction services. Upon his appointment to the position of Procurement Engineer in Dubai, UAE, Eng. Naser was tasked with reviewing and commenting on a range of documents including MEP drawings, BOQs and specifications within the contracts, as well as Bid Tender Documents.
In 2004, while seconded to DSI Kuwait, Eng. Naser was involved in securing a KWD 6 million electromechanical contract for the development of the Kuwait State Audit Bureau headquarters. Initially appointed to the position of Junior Site Mechanical Engineer, his responsibilities included full composite diagram reviews, producing as-built drawing s, value engineering of contracts, government relations and all site inspections. Within 14 months, Eng. Naser was appointed as Acting Project Manager for the site.
Upon his return to Dubai in 2006, he was assigned to work on Fairmont- The Palm, a 381-key luxury resort located on the iconic Palm Jumeirah. In his capacity as Associate Business Development Manager, Eng. Naser's responsibilities included full electromechanical review and implementation as well as financial reporting responsibilities.
In 2006, Eng. Naser joined EMCOR Facilities Management Group in Dubai, a subsidiary of EMCOR Group, a Fortune 500 company and global leader in mechanical and electrical construction, industrial and energy infrastructure, and facilities services. Eng. Naser's responsibilities as Deputy Operations Manager included contract overview, value engineering, delivering key performance indicators (KPIs) through service level agreements (SLAs) and advanced monitoring methods.
While at EMCOR, he was involved in the development of a multitude of facilities management projects in the UAE, including Dubai Festival City, First Resorts Facilities Management (covering the Palm Jumeirah) and Concordia Facilities Management (covering Jumeirah Lakes Towers). He was also instrumental in signing the facilities management agreement for Abu Dhabi Mall, a project he would end up heading.
Following his assignment in Dubai, Eng. Naser spearheaded the establishment of EMCOR Kuwait, the first comprehensive facilities management provider in the country. Serving as Acting General Manager and Business Development Manager, he was able to secure the first official facilities management contract in Kuwait in both the government and private sector. His portfolio included an 8-month transition contract for Avenues Mall, the largest retail complex in Kuwait. Eng. Naser was also active in securing a five-year, multi-million KD contract for EMCOR to manage the facilities of the Kuwait State Audit Bureau, a 200,000 square meter state-of-the art facility that was a pioneer in integrated cooling solutions in the region.
Appointed to head the Facilities Management Department at KREC in 2009, Eng. Naser has been responsible for managing all of KRECs income producing property portfolio within Kuwait. Initially tasked with reviewing the FM budget for the company, Eng. Naser was able to reduce the overall annual facilities management budget by more than 50% in his first year. He was able to do this by recognizing staffing redundancies and reducing every existing maintenance contract the company had entered into, specifically with regards to soft services, which saw a KWD 250,000 in annual savings.
In transitioning from restructuring the FM department to improving day-to-day operations, Eng. Naser has turned his focus to technological improvements within the facilities management process. Among the improvements he has made has been the implementation of the Computer Aided Facilities Management System (CAFM), the transitioning of all reactive maintenance processes to planned preventative maintenance, launching the company's centralized call center and establishing both an energy and waste management strategies which commenced in 2013 and will begin to pay significant saving dividends beginning in 2015.
Job Titles:
- Asset Management and Investor Relations
- Vice President of Assets Management at Kuwait Real Estate Company
- VP - Asset Management and Investor Relations
Mr. Al Muneefi is the Vice President of Assets Management at Kuwait Real Estate Company and commands more than 20 years of professional expertise. His role includes overlooking all local properties, investments and developments as well as investor relations. Among other requirements, the post responsibilities include identifying new local opportunities, conducting financial feasibilities and best use scenarios for new projects, return enhancement for existing properties, performance measurement and analysis, third party local real estate portfolio advisory and periodic updates on the Company strategy, business and results to investors and investment managers.
Throughout his career, Mr. Al Muneefi professed various expertise including strategy and business plan formulation and implementation, legal, financial and standard due diligence processes, structuring and managing of international equity investment funds and portfolios, real estate development planning and management locally and regionally, financial modelling, risk management assessment, budgeting, and the establishment of international consortiums. Additionally he has worked closely with various regulatory authorities in both Kuwait, the GCC and MENA; and has provided corporate and governmental advisory services to clients within the region. He also commands a firm knowledge of Build-Own-Transfer (BOT) and Public Private Partnership (PPP) programs.
Mr. Al Muneefi has served on various Company Boards and committees throughout his career in Kuwait and the GCC. Furthermore, he served on various internal corporate committees including risk management, asset allocation and investment, employee stock options, business strategy and product development committees. During his professional career, he attended numerous courses and trainings in Kuwait, the Middle East and Europe and participated in a series of seminars, workshops and conferences around the world.