Joseph Kilar is Chief Operating Officer; Dr Hani Gharabawi is Legal Counsel
Jeddah, Saudi Arabia; April 22, 2008: Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has strengthened the company's management team with the appointment of Mr Joseph Kilar as Chief Operating Officer and Dr Hani T. Gharbawi as General Counsel and Company Secretary.
Reporting to Mr Fahd Al-Rasheed, Chief Executive Officer, Emaar.E.C, Mr. Kilar will lend his extensive expertise in the construction industry in developing KAEC, and Dr Gharbawi will oversee and advise in the legal aspects of the company's operations.
Mr Al-Rasheed said: "Joseph Kilar and Dr. Hani T. Gharbawi bring to Emaar.E.C several years of hands-on experience. Their breadth of know-how in their respective fields will drive the growth of Emaar.E.C and give further momentum to the development of KAEC."
Mr Kilar said: "KAEC is the most prestigious development in the Kingdom today. In its size, scale and scope, KAEC is setting new trends - not just regionally but globally too. The project will create new benchmarks in construction and engineering excellence, and will be a valuable referral point in undertaking mega-projects."
Dr Gharbawi added: "Emaar.E.C is incorporating six high-growth components in KAEC, which is the first-of-its-kind in the region. The huge investor interest and overwhelming customer response demand that all aspects of the project are undertaken to the highest standards, where the interests of all stakeholders are taken into consideration."
Mr Kilar has over 30 years of experience in the construction industry, and has held senior management positions with leading construction companies in the US and Germany including Turner Construction Company and Hochtief AG, Turner's parent company. He has steered several landmark projects globally including Harvard University's Fogg Art Museum, several hospitals & pharmaceutical centres, sports complexes, hospitality projects, educational complexes and condominiums. He holds a degree in Civil Engineering from Worcester Polytechnic Institute.
Dr Gharbawi was the interim Chief Legal Counsel at King Abdullah University of Science and Technology prior to joining Emaar.E.C. In his rewarding career, he has worked as process engineer and then as legal counsel with Saudi Aramco. He was also a visiting attorney with a leading Houston firm evaluating and drafting labour related policies. He graduated as a chemical engineer from Oregon State University and obtained his Juris Doctorate from Lewis & Clark Law School.
Mr Al-Rasheed said: "Emaar.E.C is regarded as the employer of choice by international experts and Saudi nationals for the growth opportunities presented by the company, through the development of KAEC, the largest private sector led project in the region."
KAEC has six key components - the Sea Port, Central Business District, Industrial Zone, Educational Zone, Resort District and Residential Communities. Work on the project is progressing on-schedule with several contracts already awarded for construction and infrastructure development work. The first phase of KAEC has been launched to overwhelming investor response.
-Ends-
About Emaar, The Economic City:
Emaar, The Economic City (Emaar.E.C), established in September 2006, is a Saudi joint stock company managed by Emaar Properties PJSC, one of the world's largest property developers, and a number of high profile investors from Saudi Arabia. Emaar.E.C has a share capital of SR8.5 billion consisting of 850 million shares of nominal value SR10 each. Thirty per cent of the equity, worth SR2.55 billion, was offered for public subscription.
Emaar.E.C leads the master-planning and development of the 168 million sq m King Abdullah Economic City (KAEC), a project being built on a pristine location off the Red Sea in the north of Jeddah. SAGIA (Saudi Arabian General Investment Authority), the body responsible for inward investments into the Kingdom, is the prime facilitator for KAEC.
KAEC, a New Age City being built today for tomorrow's generation of Saudi citizens, has six components - sea port, industrial district, educational zone, central business district with commercial, mixed-use, retail outlets and financial island, resorts and residential area.
The mega-project works closely with the Kingdom's on-going drive to expand the economy, create employment opportunities for its youthful population and function as a catalyst to attract foreign investment, global trade, commerce and industry. Based on initial forecasts, the project and its several components will create up to one million employment opportunities in the various industries and service-oriented companies that will open in KAEC. It will also be home to 2 million residents.
For more information, please contact:
Bashar Kharbat / Saleh AlHamamy
ASDA'A Public Relations
Jeddah, Saudi Arabia
Tel: (+966 2) 6575194/ 195/ 196
E-mail: b.kharbat@asdaa.com
s.hamamy@asdaa.com
Nivine William / Kelly Home
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide
in Middle East & North Africa
Dubai, UAE
Tel: (+971 4) 334 4550
Email: n.william@asdaa.com, k.home@asdaa.com
© Press Release 2008
