ABU DHABI, UAE: Aldar Properties, the leading real estate developer in Abu Dhabi, has announced the appointment of Faisal Falaknaz as its Group Chief Financial and Sustainability Officer (GCFSO), effective from August 2, 2023.

Falaknaz will be responsible for leading the group’s finance, treasury, investor relations, strategy, digital services, and sustainability functions.

Falaknaz has been serving as the interim GCFSO since January, after the previous GCFSO, Greg Fewer, stepped down to pursue other opportunities. Falaknaz joined Aldar in 2019 as the Chief Financial Officer of Aldar Investment, the subsidiary that owns and manages Aldar’s portfolio of recurring income assets, such as residential, retail, hospitality, and education properties.

Falaknaz has over 15 years of experience in finance and investment, having held senior roles at major corporate entities, such as Mubadala Investment Company and Emaar Properties. He has a strong track record in international M&A and asset management, having deployed capital across the US and Europe. He is also a CFA charter holder, with a Master of Business Administration from The Wharton School of the University of Pennsylvania and a Bachelor of Science in Finance from the American University of Sharjah.

Falaknaz’s appointment is part of Aldar’s efforts to strengthen its Emirati representation on its senior management team. He will also play a key role in advancing Aldar’s comprehensive sustainability framework and agenda, which aims to create positive social, environmental, and economic impacts for its stakeholders.

Talal Al Dhiyebi, Chief Executive Officer of Aldar Properties, said: “We are delighted to welcome Faisal Falaknaz as our new GCFSO. He has proven himself as a valuable member of our leadership team during his interim role, demonstrating his expertise and vision in driving our financial performance and sustainability initiatives. He brings a wealth of experience and knowledge that will support our growth strategy and enhance our stakeholder value.”

Falaknaz said: “I am honored and excited to take on this new role at Aldar Properties. Aldar is a dynamic and innovative company that is at the forefront of the real estate sector in Abu Dhabi and beyond. I look forward to working with the talented team at Aldar to deliver on our strategic objectives and create long-term value for our shareholders, customers, employees, and communities.”