Al Harsousi named CEO of Al Qudra Holdings

Tuesday, Jan 03, 2012

Gulf News

Abu Dhabi Al Qudra Holding said yesterday its board of directors has appointed Abdul Rahman A. Al Harsousi as the company’s new chief executive officer.

Al Harsousi will be responsible for “developing the company’s strategy, expanding its investments and building a promising future through local and international investments that will meet the aspirations of all investors”, Al Qudra said in a statement.

Al Harsousi holds a Bachelor of Science and Master’s in Business Administration from the US. He worked in the government sector for 20 years, where he gained his managerial and leadership expertise. He has also participated in many national committees, most recently for the 2011 elections of the Federal National Council.

Al Qudra has business interests ranging from real estate to transport. The Holiday Inn, Abu Dhabi is owned by Al Qudra Holding. In February 2008, Al Qudra said it plans to raise Dh3.7 billion in an initial public offering (IPO) in the first week of March 2008, to finance expansion. However, later it dropped that plan.

In 2010, Al Qudra Real Estate, an arm of Al Qudra Holding, said it had secured a Dh4 billion contract to build 2,000 homes in Al Ain over four years.

The company said at the time the project was designed to accommodate 60,000 people if further stages were added.

Staff Report