Lootah Real Estate Development (LRED), a Dubai-based firm has appointed Raja Alameddine as its new CEO.
In his new role, he will expand the developer’s regional footprint and drive a new vision within the organisation.
Taking up the role, Alameddine brings with him extensive experience in various asset classes, including master-planned cities, mixed-use communities, and innovative lifestyle developments.
He will 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.
Commenting on Alameddine’s appointment, Arash Dara, Group CEO, Lootah Holding said: “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.
“Alameddine’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.”
A 27-year veteran in the industry, Alameddine has worked with several property developers, investment banks, as well as contracting and design companies in the past.
In the UAE, he has worked with Gulf Related, where he was instrumental in implementing the group’s regional development activities, as well as the delivery of innovative projects and large-scale communities.
Prior to that, he has set up and spearheaded the investment division at Solidere International and oversaw the initiation and development of mega mixed-use communities and cities in the UAE, Saudi Arabia, and Egypt.
Additionally, he has also worked at the National Investor, establishing and managing real estate development funds and worked on the acquisition and development of various properties in the UAE.
Meanwhile, in the KSA he has worked for Ghazzawi Group, where he developed the large land bank the group owns in KSA and introduced a range of new concepts that placed Ghazzawi Group on the regional developers’ map.
He had previously also led the investment division of Jeddah Economic Company in the Kingdom, where he worked on funds structuring, securing investments and reshaping the overall investment division.
Speaking at his appointment, Alameddine said: “I will focus on leveraging our team’s strengths and capitalising on opportunities that will help create value to our community.”