Lootah Real Estate Development names new CEO
Raja Alameddine has over 27 years’ experience in real-estate and has worked with several property developers, investment banks, as well as contracting and design companies
Raja Alameddine has been named the new CEO of Lootah Real Estate Development (LRED). He will now be responsible for leading his team strategically, expanding the company’s regional footprint and driving a new vision within the organisation.
According to a statement, Alameddine boasts extensive experience in various asset classes, including master-planned cities, mixed-use communities, and innovative lifestyle developments. He will be leveraging his investment banking experience to further enhance Lootah’s real estate offerings.
He will also be responsible for assessing suitable partnerships or joint ventures as a business strategy for expansion into new markets and development of new product portfolios for LRED to gain a strategic edge in the market, the statement noted.
“Raja has a proven track record in leading and managing large real estate investment, development, financial and legal operations and offers a unique advantage in chartering this new course for our organisation. Raja’s appointment will bring continued leadership to our team with a deep focus on delivering sustainable, tech-powered, and affordable lifestyle real-estate projects to the community. We are pleased to welcome him on board and to be able to capitalize on his know-how and experience to take Lootah Real Estate Development to new heights of success,” said Arash Dara, group CEO, Lootah Holding.
LRED pointed out that Alameddine’s career is characterised by strong geographical mobility, particularly in the GCC region with a focus on the UAE, contributing to his ability to adapt and succeed in different work-cultures.
Commenting on his appointment Alameddine stated, “I would like to thank the Board of Directors for the trust they have placed in me and for appointing me as CEO of such a dynamic company. I am honored to lead Lootah Real Estate Development and will focus on leveraging our team’s strengths and capitalizing on opportunities that will help create value to our community.”
Alameddine extensive experience and involvement in real estate will see him build a new foundation for Lootah Real Estate, that will see the release of landmark projects this year with heavy focus on the adoption of sustainability and technology within the context of lifestyle mixed-use projects, the statement concluded.
