Majid Al Futtaim Properties, a leading developer, owner and operator of shopping malls and mixed-use projects in Mena, has appointed George Kostas as its new chief executive officer.

Kostas assumed his new role at Majid Al Futtaim Properties replacing former CEO, Peter Walichnowski.

Iyad Malas, chief executive officer, Majid Al Futtaim Holding said: “We are pleased with George’s appointment. He joins at a time when the company is investing heavily in the expansion of its current assets and the development of new projects across the Mena region. We are confident that he will help the company achieve those milestones.”

Kostas brings with him a wealth of experience in different leadership roles and industry sectors.  His career has evolved in various business disciplines - finance, strategy and most recently with Brookfield Multiplex in construction and development.

“I’m delighted to have become part of a success story and a business that is growing stronger by the day. We have exciting growth opportunities ahead of us and I look forward to guiding the company as we pursue them,” Kostas said.

Majid Al Futtaim Holding recently announced major plans to invest Dh3 billion ($817 million) on extending and enhancing its Dubai businesses over the next five years, which will include significant investment into Majid Al Futtaim Properties’ shopping mall and hotel portfolios. – TradeArabia News Service