Construction

MAF Properties appoints new CEO

Parent company MAF Holdings is investing heavily into expansion in the region

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RELATED ARTICLES: MAF awards Orascom $400mn project | Brookfield Multiplex wins Masdar contract | Here for Good Leading UAE based developer, Majid Al Futtaim Properties, has announced the appointment of its new CEO George Kostas, who will replace former CEO Peter Walichnowski. CEO of parent company, MAF Holdings, Iyad Malas was quoted saying: “We are pleased with George’s appointment. He joins at a time when the company is investing heavily in the expansion of its current assets and the development of new projects across the MENA region. We are confident that he will help the company achieve those milestones.” MAF Holding recently released future plans to invest $817 million into the extension and enhancement of its Dubai businesses over the next five years. These will also bring major investment into MAF Properties’ shopping mall and hotel portfolios. Kostas has previous industry experience in varied sectors and different leadership roles, and over various business disciplines such as finance and strategy. His most recent role was in handling construction and development for the Australian construction giant, Brookfield Multiplex. “I’m delighted to have become part of a success story and a business that is growing stronger by the day. We have exciting growth opportunities ahead of us and I look forward to guiding the company as we pursue them,” Kostas said.

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