UAE-based DAMAC Properties has announced the appointment of Amit Puri MRICS as Vice President Leasing for its retail and residential assets.
In his role, he will handle the entire P&L of DAMAC Retail and Residential leased assets with a focus to establish DAMAC as a strong retail player in the region. He will also be responsible for developing the new territories for DAMAC in Iraq, Saudi Arabia, Lebanon, Qatar and Jordan as well as enhancing the productivity and valuation of the assets in United Arab Emirates.
This is his second stint in the Gulf region, since he moved to the UAE seven years ago. Puri comes with over two decades of experience of working in the field of real estate with brands such as Ivanhoe Cambridge, McArthur, RMZ, Cushman & Wakefield and DLF in leadership positions, all along formulating innovative strategies and opening up new revenue channels for stakeholders.
Founder of DAMAC Properties, Hussain Sajwani made a $599 million offer this month to buy out minority shareholders in DAMAC Properties, which he has run for nearly two decades. However, he has now postponed efforts to take the firm private after the Securities and Commodities Authority (SCA) launched a review of the transaction.
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