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Thu 22 Aug 2019 01:40 PM

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UAE developer Azizi appoints new CFO to drive financial stability

Azizi Developments hires Mika Toivola, who was previously CFO at Saudi construction giant Dar Al Arkan

UAE developer Azizi appoints new CFO to drive financial stability
Farhad Azizi, CEO of Azizi Developments.

UAE-based Azizi Developments on Thursday announced it has strengthened its executive team with the appointment of a new chief financial officer.

Mika Toivola, who was previously CFO at Saudi construction giant Dar Al Arkan, will help add long-term value to the financial stability and progression of the Azizi organisation, a statement said.

He has over 25 years of international and UAE experience in senior executive roles at market-leading and publicly listed real estate corporations, it added.

Farhad Azizi, CEO of Azizi Developments, said: “Mika is an exceptional executive who has risen rapidly in his career and has had significant responsibilities in financial management, leadership, and capital markets. His background is well suited to help us drive our strategy, adding long-term value to the financial stability and progression of our organisation.

"We are committed to promoting international best practices in financial governance and compliance that will further strengthen the organisation’s performance and boost Azizi Developments’ standing locally and globally. We are delighted to have Mika on board and look forward to him overseeing our ongoing financial planning and strategy initiatives.”

Azizi Developments has a portfolio worth over AED45 billion in Dubai, with more than 200 projects under various stages of development.

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