Aldar Investment CEO Jassem Busaibe resigns

Aldar Investment CEO Jassem Busaibe is stepping down after more than a decade with the group, capping off a 27-year career that saw him build the firm into one of the region’s better-known real estate investment platforms, according to a disclosure to the ADX (pdf).

Aldar Investment is the income-generating arm of Aldar Properties, managing a portfolio of AED 49 bn in investment-grade real estate. Its footprint spans retail, residential, commercial, logistics, hospitality, and education — including Yas Mall and office towers on Al Maryah Island — as the group diversifies beyond development sales.

A transition period is underway: Busaibe will remain in a support role while Aldar works through succession. The company says it will announce leadership arrangements “in due course.”