Majid Al Futtaim Properties appoints new CEO
Dubai-based holding company Majid Al Futtaim has announced the appointment of Betrand Julien-Laferriere as chief executive officer of Majid Al Futtaim Properties.
The appointment will support the companies ambitious growth plans to expand its business throughout the MENA region.
Commenting on the appointment, Alain Bejjani, Chief Executive Officer of Majid Al Futtaim – Holding, said: “Bertrand has extensive experience in international development and in managing real estate firms over the past 30 years. His appointment will help strengthen Majid Al Futtaim’s regional leadership position and I know he will play an instrumental role to support the future of the company and our next phase of growth.”
In his new role, Laferriere is responsible for the growth of the group’s entire property portfolio, worth US$ 10 billion.
The portfolio includes 11 hotels, including Kempinski Mall of the Emirates, and The Westin Bahrain City Centre and Le Méridien Bahrain City Centre, both of which were reflagged by Starwood last year.
Other properties include three mixed-use developments and 17 shopping malls, including Mall of the Emirates Dubai, and the City Centre mall network, the largest in the Middle East.
Prior to his appointment, Laferriere had a career in the field of architectural design as managing director of Ricardo Bofill design practice.
In the hospitality industry he has worked with Accor Hotels and Club Méditerranée.
In real estate he has experience in several executive positions for listed and non-listed firms over the past 10 years.
This included chief development officer and member of the management board of European real estate investment trust Unibail-Rodamco.
This was before his appointment as Chief Executive Officer of Societe Fonciere Lyonnaise in 2010, a French listed real estate company with USD$5 billion of office and commercial assets in Paris Central Business District.
Following the appointment Ghaith Shocair will resume his role of chief financial officer for Majid Al Futtaim Properties after stepping in as acting CEO in September 2014.