< PreviousPOWER 150 68 JUNE 2025 CW_June2025_68-124_Developers (Power 150)_13613998.indd 6804/06/2025 19:40POWER 150 JUNE 2025 69 Jerry Inzerillo is the visionary leader behind Diriyah Company, a developer transforming the heart of Saudi Arabia into a global cultural and heritage destination. As Group CEO, he oversees the $63.2 billion development of Diriyah, also known as The City of Earth, one of the world’s largest urban regeneration projects. Under his leadership, Diriyah has achieved remarkable milestones over the past 12 months. The UNESCO World Heritage Site of At-Turaif, the historic heart of Diriyah, has welcomed over three million visitors, while the dining district Bujairi Terrace has established itself as a premier destination. Diriyah Season, the company’s annual celebration of arts and culture, attracted over one million visitors this year alone. Diriyah Company also opened its fi rst hotel, Bab Samhan, a 134-key Luxury Collection hotel, in December. This milestone was followed by the opening of Michelin-starred chef Michael Mina’s fi rst restaurant in Saudi Arabia at the hotel earlier this year. Diriyah is now home to a Dolce & Gabbana boutique and café, and Maison Assouline has launched its boutique and restaurant at Bujairi Terrace. The Zallal building, a mixed- use development featuring offi ces, restaurants, cafés, and retail outlets, has opened its fi rst phase, with six restaurants and cafés including Aseeb, Villa Fayrouz and AOK Kitchen. In 2024, they awarded $8.7 billion of large- scale contracts, including district contracts for multiple assets. Major contracts include a $2.13 billion construction contract to Urbacon Saudi Co. and Al Bawani Co. Ltd. for four luxury hotels and the Royal Diriyah Equestrian & Polo Club in Wadi Safar, and a $2.08 billion contract to China State Construction Engineering Corporation and El Seif Engineering Contracting Co. Ltd. to develop Diriyah’s Northern District. Other key awards include a $1.55 billion contract to build the Qurain Cultural District, a $1.4 billion contract for the Royal Diriyah Opera House and a $1.13 billion contract to relocate the King Saud University utilities and administration offi ces. At MIPIM Cannes 2025, Diriyah Company unveiled plans for its Media and Innovation District, a new home for thousands of professionals in technology, media, and the arts. Inzerillo has pioneered an innovative district contract award strategy to manage Diriyah’s vast 14-square-kilometre footprint. By awarding joint venture contracts for multiple assets within a district, such as the Northern District, this approach is designed to accelerate delivery by up to two years compared to traditional methods. Diriyah Company is deeply committed to the local community, with over 16% of its 2,500-strong team hailing from Diriyah. The company supports local entrepreneurship and provides training and business assistance to empower the men and women of the area. Inzerillo’s leadership continues to shape Diriyah as a global destination for culture, heritage and innovation. We have now welcomed over three million visits to our UNESCO World Heritage Site of At-Turaif and dining district Bujairi Terrace” JERRY INZERILLO GROUP CEO, DIRIYAH COMPANY 1 CW_June2025_68-124_Developers (Power 150)_13613998.indd 6904/06/2025 19:40POWER 150 70 JUNE 2025 Under the leadership of Mohamed Alabbar, Emaar reported a 50% year-on-year surge in revenue to $2.8 billion (AED10.1 billion) in Q1 2025 alone, alongside a 27% increase in net profi t before tax, reaching $1.5 billion (AED5.4 billion). The group also posted AED19.3 billion ($5.3 billion) in property sales—up 42% from the same period last year—driven by 12 new launches across major master communities. Alabbar’s strategic foresight is also evident in the company’s growing recurring revenue streams, which delivered $707 million (AED2.6 billion), including strong performances in retail, hospitality and entertainment. Emaar Development saw a 43% rise in revenue and a 49% increase in net profi t before tax. The company’s revenue backlog soared to $34.6 billion (AED127 billion), reinforcing future stability and investor confi dence. With a record payout and credit rating upgrade to BBB+ by S&P Global, Emaar’s fi nancial strength and sustainability credentials continue to grow. Earlier this year, Emaar also paid out a record dividend of $2.4 billion (AED8.9 billion) to shareholders. In Alabbar’s words, the results are not just fi nancial, they’re a refl ection of relentless ambition, and a commitment to building legacies that inspire generations. MOHAMED ALABBAR FOUNDER, EMAAR 2 50% Year-on-year surge in revenue seen by Emaar Development Ranked among the top fi ve once again, Talal Al Dhiyebi continues to lead Aldar Properties with vision and impact as Group CEO. Since taking on the role in 2017, he has driven the company’s transformation into a regional powerhouse, expanding its development pipeline and strengthening its investment portfolio. Al Dhiyebi also holds key leadership roles as Chairman of Aldar Investment and Aldar Estates and Vice-Chairman of Aldar Education. Aldar’s momentum has continued through 2024 and into 2025 under his leadership, marked by the launch of high-profi le projects including the Waldorf Astoria Residences Yas, the fi rst branded residential development on Yas Island, The Wilds in Dubai South and Mandarin Oriental The Residences at Saadiyat Cultural District. These projects build on an already active year that included residential and logistics developments across Abu Dhabi and Dubai. Al Dhiyebi’s strategic focus on scale, diversifi cation, and premium living experiences has reinforced Aldar’s position at the forefront of the UAE’s real estate sector. With a growing footprint and a diversifi ed portfolio, he continues to shape Aldar as a benchmark for innovation, sustainability and excellence in property development and investment. TALAL AL DHIYEBI GROUP CEO, ALDAR PROPERTIES 3 Al Dhiyebi’s strategic focus on scale, diversifi cation and premium living experiences has reinforced Aldar’s position at the forefront” CW_June2025_68-124_Developers (Power 150)_13613998.indd 7004/06/2025 19:40POWER 150 JUNE 2025 71 Khalid Al Malik leads one of the region’s most signifi cant real estate portfolios. He oversees urban planning, infrastructure development and the strategic growth of Dubai’s largest land bank. Al Malik also manages international investments in markets such as Malta and Kochi, and maintains key relationships with global investors and government entities. Over the past year, the company has delivered major milestones, including the upcoming opening of the Delano-branded hotel on Bluewaters Island, developed in partnership with Ennismore. The hotel features 251 guestrooms, private pools, and curated hospitality experiences. Al Malik advises across Dubai Holding’s subsidiaries—Meraas, Nakheel, Meydan and Dubai Properties—driving the development of landmark communities such as Palm Jumeirah, City Walk, Madinat Jumeirah Living and Dubai Hills Estate. He sits on multiple boards including SmartCity Malta, SmartCity Kochi, and the British University in Dubai. A graduate of the Mohammed bin Rashid Programme for Leadership Development, he holds a bachelor’s degree from the University of Arizona and an MBA from Zayed University. KHALID AL MALIK CEO, DUBAI HOLDING REAL ESTATE 4 251 Number of rooms in Delano-branded hotel on Bluewaters Island Under Ghada Alrumayan’s leadership, ROSHN launched landmark projects including ALMANAR in Makkah—spanning over 20 million sqm and 33,000 homes and ALDANAH, the company’s fi rst development on the Eastern coast. In Riyadh and Jeddah, communities like SEDRA, WAREFA, MARAFY and ALAROUS are steadily progressing, while ROSHN Stadium and Aramco Stadium signal the group’s major entry into sports infrastructure ahead of FIFA 2034. The company also expanded its commercial footprint, targeting over two million sqm in retail and offi ce space. In February 2024, ROSHN signed $400 million (SAR1.5 billion) in development agreements. Backed by $2.4 billion (SAR9 billion) in market funding, ROSHN is delivering Vision 2030’s housing and economic diversifi cation goals. Alrumayan has also overseen ROSHN’s award-winning CSR platform, YUHYEEK, which impacted over 140,000 lives through health, education, arts, and environmental initiatives. Highlights include the Guinness World Record- winning ROSHN Waterfront mural, the planting of over 115,000 trees, and SAR55 million in EHSAN donations. Through integrated communications, brand storytelling and stakeholder engagement, Alrumayan continues to elevate ROSHN’s national brand and social impact footprint. GHADA ALRUMAYAN GROUP CMO, ROSHN 5 In February 2024, ROSHN signed $400 mn (SAR1.5 bn) in development agreements, accelerating construction across its fl agship projects” CW_June2025_68-124_Developers (Power 150)_13613998.indd 7104/06/2025 19:40POWER 150 72 JUNE 2025 HE Hesham Al Qassim continues to guide Wasl Group through a transformative phase. Under his leadership, Wasl has delivered key developments like the full completion of Wasl Village—a leasehold community aligned with the Dubai 2040 Urban Master Plan—and launched new residential off erings such as South Garden and the next phase of Jumeirah Golf Estates. The company’s vast portfolio now includes 55,000 residential and commercial units and over 8,300 rooms across 35 hospitality assets. Over the past year, the company has broken ground on the Food Tech Valley, which will grow 3,000 tonnes of produce annually and recycle 50,000 tonnes of food waste, helping off set 1% of the UAE’s fresh produce imports. Furthermore, Wasl Group has partnered with Etihad Energy Services to roll out solar PV systems across 77 properties, cutting energy use by up to 34% and reducing annual CO₂ emissions by 2,666 tons. Wasl Group is developing $218 million (AED800 million) One B Tower, with proceeds dedicated to vulnerable communities worldwide. The total value of Wasl’s sustainability and real estate initiatives over the past year exceeds $1.63 billion (AED6 billion), positioning the group as a key enabler of Dubai’s green economy. HE HESHAM AL QASSIM CEO, WASL GROUP 6 55,000 The residential units in company’s vast portfolio Mohamed Abdalla Al Zaabi has been the driving force behind Miral’s exponential growth. Al Zaabi was named Group CEO of the developer in 2015 and is now celebrating a decade at the helm of the fi rm. Prior to joining Miral, Al Zaabi held a number of leadership positions at Aldar Properties PJSC, including those of Head of Integrated Technologies, Director of Estates and Director of Strategic Investments. Showcasing a strategic vision and a keen focus on innovation, Al Zaabi currently oversees the comprehensive management and business strategy of Miral’s expanding portfolio on Yas Island and Saadiyat Island. These Abu Dhabi investments include SeaWorld Entertainment Inc. and Warner Bros. In February 2023, Miral inaugurated Yas SeaWorld Research & Rescue Center, an advanced knowledge hub for marine science. Al Zaabi’s vision for the islands’ projects have led to great achievements, including the welcoming of over 34 million visitors to Yas Island. Meanwhile, Saadiyat Island experienced a remarkable 44% surge in visitation compared to the previous year. Alongside his role, Al Zaabi also serves as the chairman of Miral Destinations and a board member of Miral Experiences LLC. MOHAMED ABDALLA AL ZAABI GROUP CEO, MIRAL 7 Miral inaugurated Yas SeaWorld Research & Rescue Center, an advanced knowledge hub for marine science” CW_June2025_68-124_Developers (Power 150)_13613998.indd 72CW_June2025_68-124_Developers (Power 150)_13613998.indd 7211/06/2025 17:0811/06/2025 17:08POWER 150 JUNE 2025 73 Uthe leadership of Hussain Sajwani, DAMAC Properties doubled its master development portfolio, unveiling Suncity, DAMAC Riverside and the ultra-exclusive DAMAC Islands. The group also entered a landmark partnership with Chelsea FC, launching Dubai’s fi rst football-themed residences, Chelsea Residences by DAMAC. DAMAC made signifi cant progress across several fl agship developments, including Cavalli Tower, Safa One de GRISOGONO and DAMAC Bay 1 and 2, while initiating phased handovers at DAMAC Lagoons. The company also entered the US market with The Delmore in Miami, designed by Zaha Hadid Architects. Sajwani’s commitment to philanthropy remains strong. Through the Hussain Sajwani – DAMAC Foundation, the group pledged $27.23 million (AED100 million) to the Dubai Future Foundation, committed $10 million for humanitarian aid in Lebanon, and supported UAE communities with meal distributions and aid packages. DAMAC also partnered with Emirates Red Crescent and supported organisations for people of determination. With an eye on innovation, style, and societal impact, Sajwani continues to lead DAMAC into new markets while reinforcing its position as a global name in luxury real estate. HUSSAIN SAJWANI FOUNDER, DAMAC PROPERTIES 8 $10MN The group pledged for humanitarian aid in Lebanon Under the leadership of PNC Menon, Sobha Realty has continued its ascent as one of the most formidable real estate developers in the region. In 2024, the company recorded a 50% year-on-year growth—while revenue surged to $2.42 billion (AED8.9 billion). Key milestones under his guidance include the successful launch of Sobha Siniya Island, which generated over $1.36 billion (AED5 billion) in sales, and the unveiling of Sobha Solis, featuring the world’s fi rst Arsenal-branded gym. Sobha One became the fi rst project outside Singapore to achieve the Green Mark Platinum Super Low Energy certifi cation. Menon also spearheaded several masterplan developments, including Sobha Central on Sheikh Zayed Road and Downtown UAQ in partnership with the Government of Umm Al Quwain. His focus on backward integration saw the expansion of Sobha Modular Industries’ facility in Ras Al Khaimah. Menon also led initiatives supporting women’s empowerment and education, including a $109 million (AED400 million) university campus in Dubai under the Mothers’ Endowment campaign. His leadership continues to defi ne industry excellence, drive sustainability and foster meaningful community impact. PNC MENON CHAIRMAN & FOUNDER, SOBHA REALTY 9 In 2024, the company recorded a 50% year-on- year growth, while revenue surged to $2.42 billion (AED8.9 billion)” CW_June2025_68-124_Developers (Power 150)_13613998.indd 7304/06/2025 19:40POWER 150 74 JUNE 2025 Under Rizwan Sajan’s guidance, Danube Properties launched seven new developments over the past 12 months: Diamondz, Bayz101, Bayz102, Oasiz1, Oasiz2, Timez and Sparklz. Notably, two of these towers surpass 100 fl oors—an architectural feat that highlights the brand’s ambition and capability. With a total value of over $3.27 billion (AED12 billion) and spanning more than 4.6 million square feet of built-up area, these projects have further solidifi ed Danube’s reputation for delivering bold, high-value developments. Operational excellence remains a hallmark of Sajan’s approach. In the last year, Danube delivered three major projects—Opalz, Gemz, and Pearlz—ahead of schedule by four to six months. Collectively, these projects represent over 1,000 residential units, cover more than one million square feet in built-up area, and hold a combined value exceeding $270 million (AED1 billion), refl ecting a deep commitment to timely execution and investor confi dence. Sajan is also driving meaningful impact through CSR. In 2025, Danube Group contributed $13.61 million (AED50 million) towards mosque construction in Dubai, including the inauguration of a landmark mosque at the National Industries Park in April 2025, offi ciated by His Excellency Eng. Marwan bin Ghalita, Director General of DLD. The company also donated $2.72 million (AED10 million) to the Mothers’ Endowment campaign, reinforcing a culture of giving rooted in community values. Having launched over 34 projects for Danube Group, with 18 delivered and the remaining 16 under construction, Sajan continues to lead with resilience and a clear focus on shaping a more inclusive and sustainable future. Danube Group has launched a total of 34 projects, with 18 of them already delivered and 16 under construction” RIZWAN SAJAN FOUNDER AND CHAIRMAN, DANUBE GROUP 10 CW_June2025_68-124_Developers (Power 150)_13613998.indd 74CW_June2025_68-124_Developers (Power 150)_13613998.indd 7412/06/2025 16:1212/06/2025 16:12POWER 150 JUNE 2025 75 Under Carlos Wakim’s leadership, Bloom Holding has grown and expanded its real estate, hospitality and education portfolio. Wakim has led the successful launch of Bloom Living, the company’s all-inclusive and fully integrated community off ering premium villas, townhouses and apartments in Abu Dhabi. Spanning 2.2 million sqm and inspired by Mediterranean architecture, Bloom Living will feature over 4,500 homes upon completion. With several phases already launched and the early handover of its fi rst residential phase, the project refl ects Bloom Holding’s commitment to delivering on time and exceeding expectations. Wakim has also spearheaded the company’s international expansion strategy by exploring opportunities in high-growth real estate markets, starting with the launch of Mabel Marbella Residences, a luxury residential project in Spain. Education is a fundamental aspect that lies at the heart of Wakim’s vision, which has been exemplifi ed through Bloom’s partnerships with top- tier international schools and participation in Abu Dhabi’s Charter Schools programme. Wakim led a successful launch of the Bloom World Academy. Under Wakim’s leadership, the number of students in Bloom Education’s portfolio has increased to over 21,000 across 20 schools. In September 2024, the company has expanded its education portfolio internationally and opened Uppingham school in Cairo, Egypt, through a joint venture with New Era Education and New Giza Real Estate. Under Wakim’s leadership, Bloom Holding is promoting its position as a forward-focused developer, as he remains laser focused on establishing robust short- and long-term goals that create value for customers by providing high quality products. Our focus on quality and attention to detail underpins our commitment to providing premium projects and services” CARLOS WAKIM CEO, BLOOM HOLDING 11 CW_June2025_68-124_Developers (Power 150)_13613998.indd 7504/06/2025 19:41POWER 150 76 JUNE 2025 Under the leadership of Sameh Muhtadi, RAK Properties reported a 28% Y-o-Y revenue increase in Q1 2025, reaching $100.7 million (AED370 million), following a strong performance in 2024 with full-year revenue of $381.16 million (AED1.4 billion). Over the past 12 months, Muhtadi has spearheaded the launch of several projects, including Granada Extension (80 units), Quattro Del Mar (888 units), The Edge (237 units), NB Collection (11 villas), Mirasol (339 units), and SKAI (272 units), generating net sales of $490.07 million (AED1.8 billion). As of March 2025, the company’s development backlog stands at $634.36 million (AED 2.33 billion). Key milestones under Muhtadi’s leadership include the unveiling of the Mina masterplan, a 400-hectare fl agship destination with a development pipeline of $1.36 billion (AED5 billion), and strategic partnerships with global brands such as Four Seasons, Anantara, Ellington, Minor Hotels and Nikki Beach. RAK Properties also expanded its footprint with the launch of ENTA along with the luxury Anantara Mina Residences villas and apartments and a fully digital Sales and Purchase Agreement system to streamline the buyer journey. Committed to sustainability and community development, Muhtadi has driven initiatives such as the LEED Gold-certifi ed Anantara Mina Ras Al Khaimah Resort, the upcoming Mina Discovery Centre, and the preservation of over two million square feet of mangroves that support 200+ bird species and a thriving turtle sanctuary. The company also reached 21% Emiratisation, underlining its commitment to national talent development. As RAK Properties celebrates its 20th anniversary, Muhtadi continues to focus on strategic growth, timely delivery and lifestyle-led development. Construction continues on over 3,000 units across projects, with more than 800 handovers scheduled in 2025” SAMEH MUHTADI CEO, RAK PROPERTIES 12 CW_June2025_68-124_Developers (Power 150)_13613998.indd 7604/06/2025 19:41POWER 150 JUNE 2025 77 Ahmad Gamal Ismail, CEO at Majid Al Futtaim Holding, continues to lead one of the region’s most diversified real estate and leisure portfolios. With over 16 years at the company, his tenure has been marked by consistent performance, innovation and strategic expansion. Under his leadership, Majid Al Futtaim delivered 20% year-on- year revenue growth in 2023, driven by record-breaking footfall, high occupancy and sustained demand across retail, hospitality, and residential sectors. In 2024, the company achieved several milestones, including launching Junction at Mall of Egypt—its first mixed-use development in the country featuring LEED-certified offices, a hotel, and residences. This year, it also launched Capria, the third phase of its forest- inspired Ghaf Woods community in Dubai and achieved LEED Platinum certification for its Ghaf Woods Sales & Experience Centre. Amid macroeconomic and geopolitical headwinds, Ismail’s steady leadership kept the Group on track, expanding its digital ecosystem and achieving 95% of its sustainability targets. His efforts continue to drive growth, innovation and long-term value creation across the region. AHMED GALAL ISMAIL CEO, MAJID AL FUTTAIM HOLDING 13 2024 The company launched Junction at Mall of Egypt, its first mixed-use development in the country Mahdi Amjad is the visionary behind OMNIYAT Group, one of the UAE’s most distinctive names in ultra-luxury real estate. Since founding OMNIYAT in 2005, Amjad has led the company with an unwavering commitment to design excellence, architectural innovation and uncompromising quality. His leadership has shaped some of Dubai’s most iconic residential and commercial properties, including the Zaha Hadid-designed The Alba, a $1.9 billion branded mixed-use project launched in 2024. In the same year, under Amjad’s guidance, OMNIYAT lead Dubai’s $10 million+ apartment sales, according to Property Monitor, reinforcing its position at the top of the region’s luxury market. OMNIYAT was also offi cially listed on Nasdaq Dubai in May 2025, marking a signifi cant milestone with the debut of a $500 million green sukuk—demonstrating the Group’s dedication to sustainable growth. A standout project under his leadership, ENARA by OMNIYAT at Marasi Bay, blends platinum-grade offi ces with lush terraces and wellness-forward design. With over three decades of experience across real estate, technology and investment, Amjad continues to expand the OMNIYAT platform, redefi ning the future of luxury real estate. MAHDI AMJAD FOUNDER AND EXECUTIVE CHAIRMAN, OMNIYAT 14 OMNIYAT was offi cially listed on Nasdaq Dubai in May 2025, marking a signifi cant milestone with the debut of a $500 million green sukuk” CW_June2025_68-124_Developers (Power 150)_13613998.indd 7704/06/2025 19:41Next >