Asteco Property Management’s CEO, Elaine Jones, who was recently elected as an eminent fellow of the Royal Institution of Chartered Surveyors (RICS), has decided to step down from the day-to-day operation.

The move will give Jones more time to meet her obligations to the advisory panel of RICS as well as pursue other business interests, a statement from Asteco said.

An industry veteran with over 30 years’ experience in the Middle East, Jones founded Asteco in 1985 and during that time has built one of the most respected and successful property management companies in the region.

“I have been in discussion with my fellow Asteco board members for some time now, regarding my ever increasing responsibilities. Therefore following the recent AGM, I will be stepping down from the day-to-day operation to devote more time to my other business interests,” said Jones.   

Moving into a supportive CEO role at Asteco will be Abdulla Bin Sulayem, who will now be responsible for driving the business forward, continuing the successful business strategy and laying foundations to secure the long term future of Asteco, the statement said.

“Asteco has 9 million sq ft of property under management and I will continue to drive our commitment to quality and customer service. There are no further changes planned at Asteco, it is very much business as usual,” said Bin Sulayem.   

Bin Sulayem will combine his new responsibilities with his existing role at Seven Tides, Dubai real estate developer and hospitality consultancy, where he has been CEO for the past two years, the statement said. – TradeArabia News Service