Dubai, United Arab Emirates – Lootah Real Estate Development (LRED) has appointed Raja Alameddine as the company’s new CEO .
Raja will be responsible for leading his team strategically, expanding the company’s regional footprint and driving a new vision within the organization. He brings with him extensive experience in various asset classes, including master-planned cities, mixed-use communities, and innovative lifestyle developments. As real estate offers tremendous growth potential, Raja will also be leveraging his rich investment banking experience to further enhance Lootah’s real estate offerings. He will also be responsible for assessing suitable partnerships or joint ventures as a business strategy for expansion into new markets and development of new product portfolios for LRED to gain a strategic edge in the market.
Arash Dara, Group CEO, Lootah Holding commented, “Raja has a proven track record in leading and managing large real estate investment, development, financial and legal operations and offers a unique advantage in chartering this new course for our organization. Raja’s appointment will bring continued leadership to our team with a deep focus on delivering sustainable, tech-powered, and affordable lifestyle real-estate projects to the community. We are pleased to welcome him on board and to be able to capitalize on his know-how and experience to take Lootah Real Estate Development to new heights of success.”
With more than 27 years’ experience in real-estate, Raja has worked with several property developers, investment banks, as well as contracting and design companies.
Raja’s career is characterized by strong geographical mobility, particularly in the GCC region with a focus on the UAE, contributing to his ability to adapt and succeed in different work-cultures. In the UAE, he has worked with Gulf Related, where he was instrumental in implementing the group’s regional development activities, as well as the delivery of innovative projects and large-scale communities. Prior to that, he has set up and spearheaded the investment division at Solidere International and oversaw the initiation and development of mega mixed-use communities and cities in the UAE, Saudi Arabia and Egypt. Additionally, he has also worked at the National Investor, where Raja established and managed real estate development funds and worked on the acquisition and development of various properties in the UAE.
His experience in KSA includes working for Ghazzawi Group, where he successfully undertook the development of the large land bank the group owns in KSA and introduced a range of new concepts that placed Ghazzawi Group on the regional developers’ map. Prior to joining Ghazzawi Group, Raja led the investment division of Jeddah Economic Company in KSA, where he worked on funds structuring, securing investments and reshaping the overall investment division.
Raja Alameddine, newly appointed CEO at Lootah Real Estate Development commented, “I would like to thank the Board of Directors for the trust they have placed in me and for appointing me as CEO of such a dynamic company. I am honored to lead Lootah Real Estate Development and will focus on leveraging our team’s strengths and capitalizing on opportunities that will help create value to our community.”
Raja’s extensive experience and involvement in real estate will see him build a new foundation for Lootah Real Estate, that will see the release of landmark projects this year with heavy focus on the adoption of sustainability and technology within the context of lifestyle mixed-use projects.
Fluent in English, Arabic and French, Raja holds a Master’s Degree in Business Administration from the American University in Beirut and Bachelor’s Degree in Engineering – with distinction, from the same University. He is also a member of the Engineers and Architects Institution in Lebanon. Married with 3 children, his hobbies include doing triathlons, travelling and discovering new places, and playing music.
© Press Release 2021