< PreviousPOWER 150 78 JUNE 2025 CW_June2025_68-124_Developers (Power 150)_13613998.indd 7804/06/2025 19:42POWER 150 JUNE 2025 79 Under the leadership of Fabien Toscano, AlUla Development Company (UDC) has taken transformative strides in positioning AlUla as a globally recognised destination that harmoniously blends heritage, luxury and sustainability. Toscano has been instrumental in forging strategic partnerships with world- renowned hospitality brands, most notably with Six Senses to develop a hyper-luxury wellness resort, and with Marriott International for the development of an Autograph Collection Hotel. A standout achievement during his tenure is the unveiling of NUMAJ, a signature 250- key hotel under the Autograph Collection by Marriott International, set to open in 2027. Designed by acclaimed Milan- based architects GioForma, NUMAJ draws deeply from AlUla’s natural and cultural heritage. Its architecture embraces local textures and celestial themes, creating an immersive guest experience that refl ects the spirit of discovery. The property targets LEED Gold certifi cation, integrating sustainable design principles such as greywater irrigation, UV-resistant glazing and energy-effi cient lighting in alignment with AlUla’s Dark Sky policy. With multiple dining venues, wellness facilities, and cultural touchpoints, NUMAJ exemplifi es Toscano’s commitment to future-ready, heritage-rooted hospitality. Beyond AlUla’s borders, Toscano has led the company’s expansion into Riyadh through a partnership with Saudi Icon to design and construct UDC’s new headquarters in the King Abdullah Financial District. Toscano also played a critical role in elevating Maraya’s global standing through a partnership with Live Nation Arabia, ensuring its continued operation as a world-class cultural and entertainment venue. Simultaneously, UDC’s sponsorship of AlUla Club reinforces Toscano’s deep-rooted commitment to community building by engaging local youth in sports and cultural programmes, thus strengthening social cohesion and pride. In parallel with new developments, Toscano continues to oversee the operation of a growing portfolio of luxury hospitality assets, including Banyan Tree AlUla, Our Habitas and Caravan by Habitas, Cloud 7 Residences, The Chedi, Dar Tantora The House Hotel and Maraya Theatre, each contributing signifi cantly to AlUla’s tourism and economic trajectory. Under his guidance, UDC’s assets have adopted water-saving measures, responsible waste management systems, and energy-effi cient technologies. Notably, Our Habitas earned the Oceanic Champion Badge for meeting The Oceanic Standard, an international sustainability certifi cation that underlines a serious commitment to eliminating single-use plastics and protecting land and marine ecosystems. With a roadmap of high-impact developments and a steadfast focus on regenerative tourism, Toscano continues to shape AlUla as a destination to visit, live, work and invest in. FABIEN TOSCANO CEO, ALULA DEVELOPMENT COMPANY 15 2024 was a strong year for AlUla Development Company in terms of demand, development progress, and investor confi dence” CW_June2025_68-124_Developers (Power 150)_13613998.indd 7904/06/2025 19:42POWER 150 80 JUNE 2025 Under the visionary leadership of Mirwais Azizi, 2024 marked a transformative year for Azizi Developments. The company delivered 19 projects, sold over 10,229 units—a 15.8% increase over 2023—and recorded revenues exceeding AED 10 billion. Signifi cant progress was made on fl agship projects such as Burj Azizi, poised to become the world’s second- tallest tower, and Azizi Venice in Dubai South. Notable launches included Monaco Mansions, a new benchmark in ultra-luxury living. The company also completed over 8.4 million sq. ft of built-up area, poured more than 387,329 cubic metres of concrete, constructed 316 fl oors, and clocked over 43.6 million man-hours. With a current backlog of 25 projects comprising 6,979 units scheduled for delivery in 2025, Azizi Developments continues to strengthen its development pipeline across Dubai’s key communities. Azizi’s impact extends beyond real estate. From donating AED 3 billion to the Fathers’ Endowment campaign to building healthcare and educational facilities in Afghanistan, Azizi’s philanthropic vision is both ambitious and far- reaching—cementing the developer’s role as a champion of community, compassion, and long- term impact. MIRWAIS AZIZI FOUNDER & CHAIRMAN, AZIZI DEVELOPMENTS 16 Under the leadership of Eng Ali Al Kuwari, Msheireb Properties has solidifi ed its position as a global model in sustainable urban development and cultural regeneration. In 2024, the company received prestigious accolades, including two Big 5 Global Impact Awards and a Guinness World Record for constructing the world’s largest underground car park. He spearheaded major partnerships with global tech giants—Microsoft, Google, and Schneider Electric—positioning the district as a regional innovation hub. The relocation of Media City Qatar and the Government Communications Offi ce to Msheireb Downtown Doha, along with the introduction of TikTok and Snapchat regional offi ces, reinforced the district’s role in Qatar’s digital and media strategy. Al Kuwari also championed cultural and wellness initiatives, including expanding Zulal Wellness Resort and launching the Science Café series in collaboration with Sidra Medicine. He has played a key role in drawing global attention to Msheireb’s smart-city innovations, with 15 million visitors in 2024—a 66% increase year-on-year. With Qatar Airways set to relocate its global HQ to Msheireb in 2025, Al Kuwari’s vision continues to transform the heart of Doha. ENG ALI AL KUWARI CEO, MSHEIREB PROPERTIES 17 In 2024, the company received prestigious accolades for constructing the world’s largest underground car park” We delivered 19 projects and sold over 10,229 units” CW_June2025_68-124_Developers (Power 150)_13613998.indd 80CW_June2025_68-124_Developers (Power 150)_13613998.indd 8012/06/2025 16:1212/06/2025 16:12POWER 150 JUNE 2025 81 Imran Farooq has steered Samana Developers through a phase of rapid expansion, establishing it as one of the most active players in the market. Over the past year, the company recorded a 229% annual growth and captured 4.4% of the market share. It saw a 400% increase in sales in 2024, following an even sharper 600% jump the previous year, a trajectory that refl ects investor confi dence and the growing appeal of Samana’s projects. This momentum is backed by a pipeline of projects valued at over $1.36 billion (AED5 billion). While most are currently under construction, Samana Park Views was completed and handed over in Q2 2024. New launches include Samana Ibiza, Samana Ocean Views Interiors by Elie Saab, and a series of developments in the Barari area. In parallel, the company has expanded geographically with new branches in Abu Dhabi and Dubai Marina, and a broader retail presence across the city’s leading malls. What also sets the developer apart is its eight-year fl exible payment plan, designed to make real estate investment more accessible, especially to younger buyers and fi rst- time investors. There is currently no backlog and all the projects are progressing on schedule and as planned. Revenue for 2024 reached $1.905 billion (AED7 billion), and projections for 2025 stand at $3.26 billion (AED12 billion), buoyed by plans to launch the company’s fi rst master community. Alongside its commercial success, Samana Developers has taken an active role in social development through large- scale CSR initiatives. In the UAE, the company has pledged AED40 million for an endowment building within Dubai Academic City. In Pakistan, Samana’s CSR eff orts include constructing 200 water wells (54 solar-powered), granting 80 medical scholarships, establishing two schools, among others. We have pledged to construct an AED40 million endowment building in support of the “Fathers’ Endowment” campaign” IMRAN FAROOQ GROUP CEO, SAMANA DEVELOPERS 18 CW_June2025_68-124_Developers (Power 150)_13613998.indd 8104/06/2025 19:42POWER 150 82 JUNE 2025 Ahmed Al Khatib is the Chief Development and Delivery Offi cer at Expo City Dubai, responsible for its physical and commercial development. The position builds on Al Khatib’s success in his previous role of Chief Development and Delivery Offi cer at Expo 2020 Dubai, a role he held between 2015 and 2022. In this position, he oversaw the development, delivery and management of the Expo site Master Plan, as well as supporting utilities, infrastructure services, roads, networks and transportation. Additionally, Al Khatib was responsible for overseeing the sustainability of the site to ensure processes and procedures were completed in an environmentally-friendly manner. Al Khatib has more than 20 years of experience in end-to-end project delivery and construction. During his career, he has held the roles of Vice President of Real Estate Development at Dubai World Trade Centre and Senior Manager, Infrastructure, at Dubai Holding Group. Under his latest master plan, Expo City is set to gradually expand, presenting great opportunities for investors, and residents. The company has already begun work on various residential developments, including Expo Valley villas and townhouses, as well as apartments at Mangrove, Sky and Sidr Residences. AHMED AL KHATIB CHIEF DEVELOPMENT & DELIVERY OFFICER, EXPO CITY 19 He oversaw the development, delivery and management of the Expo site Master plan” Australian-national Ahmed Alkhoshaibi is the Group CEO of one of the UAE’s what is now one of the UAE’s largest master developers, Sharjah-based Arada. Established in 2017, Arada specialises in off ering fi nely-crafted residences within expansive and safe neighbourhoods. Arada has achieved great success under Alkhoshaibi’s guidance. Some of the companies’ most notable project launches include its 90,000 square feet Armani Beach Residences in Palm Jumeirah, as well as its Il Teatro Residences in Aljada, Sharjah. Arada’s portfolio also includes Sharjah’s largest ever mixed-used community, Aljada and the UAE’s fi rst forested development, Masaar. Arada is the youngest private company in the UAE to have obtained credit ratings from Moody’s and Fitch, and completed successful issuances on the global bond markets. Alkhoshaibi’s outlook for Arada is also aligned with the UAE’s ambitious sustainability objectives, integrating extensive green spaces in all Arada projects and investing in sustainable and environmentally-friendly technologies. Under Alkhoshaibi’s leadership, the developer has evolved into a robust fi rm of over 1,200 employees, with ambitious plans for both domestic and international expansion. AHMED ALKHOSHAIBI GROUP CEO, ARADA 20 Arada is the youngest private company in the UAE to have obtained credit ratings” CW_June2025_68-124_Developers (Power 150)_13613998.indd 8204/06/2025 19:42POWER 150 JUNE 2025 83 development of SENSORIA, a branded residential tower within the same beachfront plot, set to be completed this year. The building features a 2,800 sq. m Onyx Solar Façade and an advanced greywater system, and is also targeting LEED Platinum certifi cation. SENSORIA reached $283 million (AED1,040 million) in sales in four months, including a single-unit sale at $13 million (AED50 million), i.e. AED6,356 per ft2, setting a record in the JBR market. Currently, FIVE’s development portfolio includes branded residential, hotel and hospitality assets across Dubai and international markets. With contributions to the UAE Food Bank in research and community food security, engagement in UAE-wide recycling and circularity drives, and the ongoing funding of literacy skills and life-saving surgeries for children, Mulchandani holds community at the heart of his development visions. Under Kabir Mulchandani’s leadership, FIVE Holdings has delivered fi ve-star developments that prioritise ESG standards, and high ROI while capturing investor interest. In 2021, FIVE acquired a developing prime beachfront property spread across a plot size of 214,271.56 ft2 in JBR for $179 million (AED658 million), completing the construction of FIVE LUXE by October 2023. Rising 55 storeys, FIVE LUXE was launched on 31 March 2024 and features 222 residential units and 222 hotel rooms. To date, 188 hotel rooms have been sold, alongside 222 residential units. FIVE LUXE is now home to key lifestyle concepts from Playa Pacha Pool and Beach Club, Ronin, Paradiso Dubai, to Tête-à-Tête and Goose Island Tap House. It achieved a record LEED Platinum rating of 89 points, making it the highest-rated 5-star hotel globally in sustainability performance. Alongside, Mulchandani is leading the The company recorded AED496 million in total revenue, a 40% increase, for the three- month period ended 31st March 2025” KABIR MULCHANDANI CHAIRMAN & CHIEF EXECUTIVE, FIVE HOLDINGS 21 CW_June2025_68-124_Developers (Power 150)_13613998.indd 8304/06/2025 19:42POWER 150 84 JUNE 2025 Masih Imtiaz stands at the forefront of Dubai’s new-generation real estate leaders, with over 14 years of experience in construction and development. Under his leadership, Imtiaz Developments has rapidly emerged as one of the region’s most dynamic and design-forward developers, known for its focus on luxury residential projects that blend functionality, sustainability, and architectural excellence. At the core of Imtiaz’s philosophy is a commitment to crafting communities that elevate modern living. From the launch of Beach Walk Residence in Dubai Islands to the recent unveiling of the Sunset Bay Collection, Imtiaz’s portfolio is driven by thoughtful innovation and a people-first design approach. A champion of sustainable development, the company has pledged to plant a tree for every apartment built, reinforcing its long-term environmental vision. Imtiaz’s leadership fosters a culture of excellence and boundary-pushing ambition, positioning Imtiaz as a brand synonymous with purposeful development. His forward-thinking ethos continues to redefine the standards of living spaces in the region, one visionary project at a time. MASIH IMTIAZ CEO, IMTIAZ DEVELOPMENTS 22 Robert Booth has overseen the development, marketing and sale of some of the world’s most reputable projects. Booth begun his career in Canada, where he developed the country’s largest master-planned urban community; Vancouver’s Concord Pacifi c Place. Later, as Director of Developments at Concord Adex Developments Corporations, Booth oversaw a $2 billion project in Toronto. He moved to Dubai in 2001 to join Emaar Properties. He later became the company’s CEO, a position he held for the following 13 years. During his time at Emaar, he was instrumental in the development of Arabian Ranches, Emirates Living, Emirates Hills, The Greens and The Dubai Marina, bringing 40,000 residential units onto the market. His crowning achievement was the fl agship project ‘Downtown Dubai’, which he oversaw from start to fi nish, including the development of the iconic Burj Khalifa. In 2014, Booth co-founded the Ellington Group. The boutique developer now has 11 high-end properties under development spread across MBR City, Downtown Dubai, Emirates Hills, Jumeirah Village Circle and the Palm Jumeirah. Booth retains his role at Emaar as Advisor to the Chairman. ROBERT BOOTH CO-FOUNDER & MANAGING DIRECTOR, ELLINGTON PROPERTIES 23 He oversaw the Downtown Dubai project from start to fi nish, including the development of the iconic Burj Khalifa” At the core of Imtiaz’s philosophy is a commitment to crafting communities that elevate modern living” CW_June2025_68-124_Developers (Power 150)_13613998.indd 8404/06/2025 19:43POWER 150 JUNE 2025 85 In May 2025, the NEOM Board of Directors has announced the appointment of Eng Aiman Al-Mudaifer as its new CEO, Managing Director and Board Member. Al-Mudaifer had been serving as NEOM’s Acting CEO since November 2024. During this time, he has played a pivotal role in maintaining operational momentum, enhancing internal effi ciencies and accelerating progress across NEOM’s diverse portfolio of strategic projects and regional developments. The new chief executive brings deep expertise in real estate, infrastructure, and investment, to the $500 billion mega-development. Prior to joining NEOM, Al-Mudaifer led the Local Real Estate Investment Division at the Public Investment Fund (PIF), where he oversaw transformational growth and development. During his career, he has been the CEO of Shomoul Holding Company, the founder and CEO of Alandalus Property Company, and the head of licensing management in the investigations department at the Capital Market Authority (CMA). In addition to his notable executive roles, Al-Mudaifer serves on the boards of several key PIF portfolio companies, further strengthening his leadership credentials. ENG AIMAN AL-MUDAIFER CEO, NEOM 24 $500BN The estimated value of the NEOM megadevelopment Issa Ataya continues to steer Alef Group toward impressive growth and innovation, solidifying the developer’s position as a key force in Sharjah’s evolving real estate landscape. Under his leadership, Alef recorded $653 million (AED2.4 billion) in sales in 2024—a 33% year-on-year increase, fueled by the successful launch of Olfah and Al Mamsha Hamsa. Ataya also oversaw the completion of Al Mamsha Souks (Zone 1 of Al Mamsha Sharjah). Signifi cant progress was made across key developments including Al Mamsha Seerah and Hayyan Villas, with the latter’s Arim and Alma zones progressing toward their 2026 handover targets. In total, the value of projects spearheaded under his guidance exceeded $1.39 billion (AED5.1 billion) in the last 12 months. As of end-2024, Alef boasts a project backlog of $3 billion (AED11 billion), positioning the company for continued success. Beyond commercial success, Ataya has championed CSR initiatives supporting education, healthcare, and the arts—partnering with the American University of Sharjah and backing cultural and wellness initiatives across the emirate. His leadership is shaping a more vibrant, integrated Sharjah. ISSA ATAYA CEO, ALEF GROUP 25 Signifi cant progress was made across key developments including Al Mamsha Seerah and Hayyan Villas” CW_June2025_68-124_Developers (Power 150)_13613998.indd 85CW_June2025_68-124_Developers (Power 150)_13613998.indd 8512/06/2025 09:0412/06/2025 09:04POWER 150 86 JUNE 2025 For Badr Abdulla Alhelo Alsuwaidi, Co- founder and CEO of NABNI Developments, the past year has been all about pushing the company’s growth strategy forward through high-profi le project launches and a focus on delivering standout luxury developments. Under his watch, NABNI has handed over several projects in Al Furjan, such as Avenue Residences 4 and 5, while also launching Avenue Residences 6, 7 and 8—adding depth to NABNI’s residential portfolio. A major milestone was the launch of the Waldorf Astoria Residences Dubai Business Bay, a project that brings the Waldorf Astoria’s fi rst standalone branded residence outside the USA to Dubai’s skyline. The ultra-luxury development will off er 146 residences across 65 storeys, featuring three collections: the Signature Collection (one- to three-bedroom units), the Sky Collection (four- bedroom residences, townhouses, multi-level Sky Villas, and Sky Mansions), and a fully customisable Sky Palace. NABNI has expanded its land bank to support future luxury projects in strategic locations. It remains focused on craftsmanship, sourcing premium materials, and partnering with top global design fi rms to ensure distinction and quality. Alhelo Alsuwaidi’s impact extends beyond the boardroom—this year, he is driving several new initiatives, including the Emirati Talent Mentorship Programme, the Construction Workers Welfare Programme, and NABNI x Local Artisans initiative. With a measured approach and a focus on delivery, Alhelo Alsuwaidi is shaping NABNI’s next chapter—one that not only builds on the company’s strong commercial momentum but also weaves in a long-term vision to create lasting impact on Dubai’s real estate landscape. Waldorf Astoria Residences Dubai redefi nes ultra-luxury living through iconic design and legendary hospitality” BADR ABDULLA ALHELO ALSUWAIDI CO-FOUNDER & CEO, NABNI DEVELOPMENTS 26 CW_June2025_68-124_Developers (Power 150)_13613998.indd 8604/06/2025 19:43POWER 150 JUNE 2025 87 Israr Liaqat has played a central role in shaping Select Group’s growth story over the past several years. Under his leadership, the company has launched many headline projects and executed key acquisitions. Among the most notable achievements is the launch of Six Senses Residences Dubai Marina, a 122-storey tower unveiled in April 2024. Set to be the world’s tallest purely residential building, the project also marks the global debut of Six Senses’ standalone residential concept, combining wellness-led living with cutting- edge design. Moreover, the company’s largest construction contract for Six Senses Residences Dubai Marina, was awarded to Arabian Construction Company, with a GDV of over $1 billion. Liaqat also led Select Group’s $54.45 million (AED200 million) acquisition of Radisson Blu Hotel, Dubai Media City, the largest hotel sale ever recorded in the Media Free Zone, with plans to fully refurbish the property. Additionally, Select Group has recently expanded its international hospitality portfolio with the acquisition of Old Thorns Hotel & Resort in the UK. In the residential space, Select Group has successfully sold all units in the Peninsula Master Community, a waterfront development valued at over $1.906 billion (AED7 billion). The fi rst tower, Peninsula Five, The Signature Collection, has already been handed over, with Peninsula One scheduled for completion in July 2025. At the end of 2024, Select Group’s development pipeline included eight ongoing projects across 11 towers, with three additional handovers expected by year-end. Liaqat has also championed CSR eff orts, from charitable donations and Ramadan meal distributions to employee wellness initiatives. In 2024, Select Group successfully sold all units across six towers within the Peninsula Master Community” ISRAR LIAQAT GROUP CEO, SELECT GROUP 27 CW_June2025_68-124_Developers (Power 150)_13613998.indd 8704/06/2025 19:43Next >