Dubai's DIFC appoints real estate chief

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Dubai International Financial Centre (DIFC) has appointed real estate veteran Brett Schafer to lead its properties division.

Schafer, who has more than 30 years of experience in the commercial property sector, will be responsible for running the onshore financial centre’s real estate portfolio, which includes 1.6m sqft of office and retail space.

Schafer has previously been head of Dubai-based Al Futtaim Group’s real estate development and property management business.

"Our goal is to ensure that the necessary infrastructure is in place to support DIFC's projected growth and expansion, and we are very pleased to welcome Brett Schafer on board to help us achieve this,” commented HE Abdullah Mohammed Saleh, chairman of DIFC Investments and governor of DIFC.

“With a wealth of experience in property management, together with his exciting vision for the future of DIFC's real estate, we believe that Brett will prove to be a major asset for DIFC Properties," he added.

DIFC, setup in 2004, last year split its core functions into independent entities, with DIFC Authority named as the centre’s business development and legislation arm and DIFC Properties established as part of DIFC Investments to oversee its overall masterplan.

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