Adel Al Shirawi appointed as Vice Chairman of Istithmar World

Al Shirawi, the former Chief Executive Officer of Tamweel P.J.S.C., the largest provider of real estate finance in the UAE, will assume his duties from February 3, 2008, and as Vice Chairman, he will report directly to the Chairman of Dubai World and Istithmar World, Sultan Ahmed Bin Sulayem.
In addition to his new responsibilities at Istithmar World, Al Shirawi will continue to serve as a member of the Board of Directors of Tamweel.
Dubai World, one of the world's largest holding companies, announced the appointment of Adel Al Shirawi as the Vice Chairman of Istithmar World, an alternative investment house for Dubai World.
Al Shirawi, who was recently nominated by the World Economic Forum as one of 25 Young Global Leaders for 2007 from the Middle East, will continue to solidify the position of Istithmar World by broadening the existing portfolio and launching new activities to maximize value and returns for Dubai World.
Despite the difficult credit market conditions in 2007, Istithmar World has successfully invested in world-class assets such as Barneys, GLG, and Fortress, increased equity investment in low-cost carrier SpiceJet, and established Gulf African Bank with a 33 percent stake, opened a China office, and made its first investment in Hans Energy, China. During the year, Istithmar World also set up Forsa, UAE's first specialized investment fund for women.
02/02/08 AME Info, United Arab Emirates

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Categories: SpiceJet Feb 2008