Al Farwaniya, the developer of Abu Dhabi’s $1 billion Reem Mall, which is currently under construction, has appointed Shane Eldstrom as its new CEO.
An upward move from his previous position as chief operating officer for Reem Mall, Eldstrom is now charged with carrying forward the company’s strategy, corporate vision and preservation of shareholder interests, a statement said.
It added that former CEO Sam Sidiqi retains his position as chairman of the board.
Eldstrom has held numerous senior and executive positions in the commercial real estate industry specialising in retail, working in organisations including Bentall Capital, Ivanhoe Cambridge, Dubai Properties and Al Ghurair Group.
His new role will see Eldstrom lead the development process for the $1 billion Reem Mall project, poised to become home to more than 450 retailers including 85 restaurants, a hypermarket, cinema, an extensive array of entertainment and edutainment anchors and the world’s largest indoor snow play park.
Reem Mall is currently under development in partnership with Kuwait-based National Real Estate Company (NREC) and United Projects for Aviation Services (UPAC).
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