Dubai Holding announced today executive promotions to strengthen leadership team. H.E. Ahmad Bin Byat was promoted to Vice Chairman and Managing Director of the Group; and Fadel Al Ali will assume the role of Chief Executive Officer of the Group, which employs 22,000 employees, operates in 24 countries and owns assets valued at AED 130 billion.
H.E. Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding, said: “The track record and extensive expertise of both Ahmad Bin Byat and Fadel Al Ali, coupled with the instrumental role that they have played in Dubai Holding’s success over the last ten years, will contribute significantly to strengthening Dubai Holding’s comprehensive investment strategy that focuses on knowledge, content, technology, economic zones and innovative clusters”.
Al Gergawi added: “Ten years after its inception, Dubai Holding enters a new phase of growth; the Group reinforces its leading position in generating added value to the national economy. The Group’s leadership will work to keep the momentum going, sustain revenues and profits and increasingly focus on investment in innovation and new strategic sectors”.
Dubai Holding achieved strong performance in 2014 across all its business sectors. Its net profit rose 42% to AED 4.7 billion, total revenue AED 13.2 billion and asset value reached AED 130 billion.
Over the last ten years Dubai Holding’s unique business strategy has reinforced the position of the Group as a vital pillar of the Nation’s economy and life. The Group’s business communities employ over 74,000 specialists in technology, media, sciences and research. Over 20,000 students study at Dubai Holding’s academic clusters, and its media zones employ over 22,000 workers and broadcast 164 channels to more than half a billion viewers around the world. Dubai Holding’s tourism destinations host millions of visitors, and its Life Sciences cluster is home to 3,600 specialists in biotechnology, pharmaceutical industries, nutritional and environmental research amongst others.
H.E Ahmad Bin Byat has established himself as one of the region’s most respected and successful corporate leaders, through a vast range of achievements. H.E Bin Byat currently holds several senior positions in leading organisations in Dubai, including his roles as Director General of Dubai Creative Clusters Authority; Chairman of du; Member of the Supreme Committee of Dubai Smart City Project. His former roles include Secretary-General of the Dubai Executive Council; Chairman of the Dubai Real Estate Corporation (Wasl); Chairman of the Dubai Education Council; and a Board member of Thuraya Telecommunication amongst others.
Appointed as Chief Executive Officer of Dubai Holding, Fadel Al Ali has considerable experience acquired from working across a range of Dubai’s diverse business sectors over the years. He is currently Chairman of the Board of Dubai Properties Group and a member of the Board of Emirates Integrated Telecommunications Company (du); Dubai Financial Services Authority and Jumeirah Group amongst others.
Fadel Al Ali said: “Through this show of confidence and the new responsibilities which this role entails I look forward to reinforcing Dubai Holding’s position as one of the world’s most successful corporates. With a competent and loyal team, highly attractive work environment and long-term business strategy we have all the right ingredients to deliver Dubai Holding’s vision to expand, grow and constantly create fresh opportunities in new sectors vital to Dubai’s development.”