Establishes Tatweer Dubai and Tatweer Investments to Capitalise on Future Growth Opportunities and Ensure Timely Project Delivery
Dubai: 8 September, 2008 – Tatweer, a subsidiary of Dubai Holding, today announced a restructuring of its operations, to match its rapidly expanding portfolio across various industry verticals, while proactively enhancing corporate governance.
The restructuring reflects the beginning of a new phase for Tatweer as a pioneering holding company, and will set the pace for the conglomerate to enter its next growth stage that will see the timely delivery of its ambitious projects. In addition, Tatweer will relentlessly endeavour to take the Dubai model overseas, reflecting its own dynamic corporate global expansion.
Under the new structure, Tatweer will bring its entities across six diverse sectors under two distinct divisions – Tatweer Dubai and Tatweer Investments.
As the Executive Chairman of Tatweer corporate (the holding company), Saeed Al Muntafiq is responsible for the creation and overall delivery of the strategic plan, corporate governance, risk management, and people development.
Al Muntafiq said: “As a strategic driver of a select group of entities, Tatweer’s restructuring initiative is in response to its enormous growth curve. It also marks the transition of Tatweer from its initial phase of identifying core business areas to its next state of delivering critical projects in Dubai while establishing a sound base for international growth .
“The new organizational structure is built around our core values of higher accountability, operational priorities, and performance management. It will additionally elevate one of Dubai’s home grown corporate entities to global status, further consolidating Dubai’s rapidly evolving international profile.”
Tatweer Dubai, led by CEO Khalid Al Malik, will focus on scheduled project delivery within the UAE and advance strategic long term partnerships with organisations such as Partners-Harvard Medical International, Tiger Woods, and Universal Studios. Tatweer Dubai’s entities comprise Dubai Healthcare City (DHCC), Dubailand, Bawadi, Theme Parks Cluster, and Dubai Industrial City.
Tatweer Investments, led by CEO Ahmad Sharaf, will drive Tatweer’s foray into international markets, leveraging its synergy with global strategic partners. Tatweer Investments will extend Tatweer’s existing intellectual property portfolio and generate innovative IP driven investments and partnerships overseas. It will support MIZIN in its goal of becoming a developer of choice in the UAE, and establish new businesses in the food industry through alliances with leading international brands.
In line with the new appointments, Dr. Muhadditha Al Hashimi, previously the CEO of Dubai Healthcare City (DHCC), has been appointed as Deputy Chief Executive Officer of Tatweer Dubai. Under Dr. Al Hashimi’s leadership, DHCC has steadily poised itself to become the location of choice for quality healthcare in the region and around the world together with its prime partner – Harvard Medical School.
As part of the restructuring, further appointments within the entities include Mohammed Al Habbai as Senior Vice President of Dubailand, and Dr Ayesha Abdullah as Senior Vice President of Dubai Healthcare City (DHCC), and Dr Ayesha Al Muttawa as Vice President for the Centre for Healthcare Planning and Quality (CPQ).
Hussain Al Marzouqi will lead Tatweer Real Estates and Zoning as Vice President, while Rashid Al Ansari will be the Vice President of Dubai Industrial City, and Arif Mubarak the Vice President of Bawadi. Abdul Redha Ali bin Redha will assume the role of Project Director of Global Village, while Abdulla Al Gurg will continue in his mandate as Project Director of The Tiger Woods Dubai.
Al-Muntafiq added: “Establishing the two companies creates a solid platform for succession planning and national development through the creation of more opportunities for leadership positions for UAE nationals.”
Tatweer Dubai and Tatweer Investments will work closely together in transforming Tatweer into a world-class organization. The new entities will facilitate the on-time delivery of projects, enhance corporate governance and create an environment for sustainable development.