Bani Yas Investments and Development names new CEO

December 27, 2008 1:26 pm

The BID Board of Directors also announced Mr Tawil as Managing Director of Al Maha Investments, a subsidiary of Emirates International Investment Company.

Wael Tawil brings more than 15 years of Financial, Real Estate and leadership experience across various industry sectors and has an intimate knowledge and understanding of the investment sector and the competitive landscape in the region. Mr Tawil has worked and traveled extensively and has been involved in expansion plans across the globe.

Announcing the appointment, Jowan Alkhaily, Chairman of BID, said:

“I am honoured to announce Wael Tawil as the CEO. Baniyas Investments and Development is in the midst of an interesting growth phase with strategic expansion plans across the region. I am delighted to have Wael on board and the decision to recruit him is a key part of our growth strategy.”

Mr. Alkaily also added, “With his extensive knowledge on the regional Real Estate and investment sectors, I am confident that he will play a pivotal role in driving BID’s initiatives and help achieve its strategic objectives. We believe that Mr Tawil is the right person to lead BID, in close coordination with our strong board and management team.”

Wael joins BID from Amer Real Estate – one of the leading real estate companies in Egypt, where he worked on various M&A advisory deals across Jordan, Egypt, Syria, Lebanon and Yemen. Prior to Amer Real Estate, Wael worked at PepsiCo for 10 years in Jordan, Dubai, Egypt, Saudi and North Africa, leading the group to unprecedented success in various initiatives. His key achievements include lobbying for industry sales tax reform in Jordan, contributing $5m to annual Profit and Loss and helping the group’s profits grow three-fold in less than two years in the North African franchised region.

Wael began his career with Deloitte, where he led the initial works for the privatization of Royal Jordanian Airlines. He also moved to consulting in Jordan and worked in different sectors such as M&A, banking, Industrial, hotels and utilities. He also spearheaded a very important project — laying the longest fibre optics cable in the world for Dallah Albaraka, Marubeni and Bell Atlantic consortium and successfully managed operations across US, Bermuda, UAE, Egypt and Far East.

Wael is a MBA and a CPA from the University of Illinois.