Al Wa’ab City announces key appointment

October 27, 2009 1:10 pm

This appointment is the result of a strategic review made by both the Al Wa’ab City’s shareholders and Mr Barrott over the last few months and is aimed at strengthening the existing management structure and increasing its responsiveness to the prevailing economic situation. The appointment will enlist the services, expertise and innovative ideas of an independent advisor of truly international calibre.

Mr Barrott brings considerable in-depth knowledge of both the core elements of real estate development and of corporate and funding structures stemming from over 40 years of experience in the construction and development industries. As an independent Director and Board Member, Mr Barrott will continue to develop and implement the revised strategy, together with supporting policies, practices and procedures that will both maintain and solidify the position of Al Wa’ab City as an industry exemplar for the Qatari market and the region.

Sheikh Nawaf Nasser Bin Khaled Al Thani, Chairman of Al Wa’ab City Management said:

“On behalf of the Al Wa’ab City Board Of Directors, I welcome Ron to the team. We are very pleased to have such a highly experienced and talented professional on board. At times when markets are volatile and changes are the only prevailing constants, continuous performance is even more directly dependant on intellectual capital. Ron’s expertise combined with that of the team will surely strengthen our image as a major player in Qatar.”

Sheikha Hanadi Nasser Bin Khaled Al Thani, CEO of Al Wa’ab City Management said: “We firmly believe that this key appointment further accentuates our commitment to our stakeholders to continuously assess, manage and improve the quality of our processes at all levels, driven by the investment we make in our intellectual capital. After all, the success of the Al Wa’ab City project lies with its experts and we aim at achieving operational excellence thus adding tremendous, long-term value to the project.”

“Strengthening our team with this method of consultancy is crucial to the development of our existing practices and our human assets’ capabilities. This is a responsible move and one which will inevitably lead to building a fully integrated pool of professionals.” added Sheikha Hanadi.

Following his appointment, Barrott said: “Al Wa’ab City is undoubtedly a landmark development, being one of the biggest privately held real estate projects in the region. I am continuing to study and evaluate some new key organizational and operational structures and procedures in line with the core philosophy and values of the Al Wa’ab City project. Together with the my fellow Directors and the existing team we are developing these in light of recent and ongoing market changes so we can better respond to the current and future local and regional demand. We are also expanding the team by appointing a number of new senior level executives.”

“I would like to extend my appreciation for the confidence that I have been given to join such a prestigious project and look forward to working closely with the team who has put tremendous efforts into positioning the Al Wa’ab City project both as a family oriented, self-supporting community and also as a great investment opportunity.” added Barrott.

Ron Barrott is a building engineer by profession. Of his 40 years of experience, 8 have been as Managing Director, 14 have been as Chief Executive and Chairman, all in the UK, and the last three as Chief Executive in Abu Dhabi. During his career he has founded four major development companies, three in UK and one in Czech Republic, and structured a £250,000,000 retail fund.

After an early career starting in both engineering and contracts management on multimillion pound heavy civil engineering and complex building projects Mr Barrott’s entrepreneurial development expertise surfaced and he founded his first company, Midland Oak Estates Limited, serving as CEO and equal shareholder.

In 1990 Mr Barrott negotiated a management buy-out, which was concluded in October 1991 with the birth of Stannifer. Stannifer grew into one of the UK’s largest privately held retail development companies, introducing leading edge design throughout Britain and Northern Ireland, and through Stannifer Projekt AS in the Czech Republic.

In 2005 Mr Barrott was approached by Aldar Properties PJSC, the Abu Dhabi listed real estate developer to head up the company, being appointed Chief Executive Officer in 2006 and growing the company from a small local developer into the second largest company of its kind in the UAE. He was appointed to the Board in 2008, the first non-Emirati to be appointed to a public company Board in the UAE. He remains with Aldar as a non-executive director.