DIFC Investments Names Chief Executive of DIFC PropertiesPress Release 19 May 2013 08:40 am
Brett Schafer appointed to lead growth strategy of DIFC Properties
Dubai International Financial Centre (DIFC) today announced the appointment of Brett Schafer as Chief Executive Officer of DIFC Properties.
In July 2012, DIFC announced the restructuring of the Centre’s core functions into independent entities, with DIFC Authority named as the business development and legislation arm, and DIFC Properties, established as part of DIFC Investments LLC (“DIFC Investments”) to manage the Centre’s real estate portfolio and deliver DIFC’s Master Plan. Nabil Ramadhan, who has served as Acting CEO of DIFC Properties since the restructuring, will continue in his role as Chief Operating Officer of DIFC Authority.
Schafer brings approximately 30 years of experience in the commercial property sector across the Middle East, United States and Canada to his role within DIFC Properties.
In his capacity as DIFC Properties CEO, Schafer will work closely with the Centre’s private developers and his internal team, while reporting directly to the DIFC Investments Board, to ensure that the highest possible standards of infrastructure are provided within the DIFC.
His Excellency Abdullah Mohammed Saleh, Chairman of DIFC Investments and Governor of DIFC, commented: “Our goal is to ensure that the necessary infrastructure is in place to support DIFC’s projected growth and expansion, and we are very pleased to welcome Brett Schafer on board to help us achieve this. With a wealth of experience in property management, together with his exciting vision for the future of DIFC’s real estate, we believe that Brett will prove to be a major asset for DIFC Properties.”
Brett Schafer commented: “Established as an international financial hub connecting the East and West, DIFC has flourished since 2004. Its world class infrastructure and financial ecosystem has enabled its clients and their businesses to successfully grow. I look forward to working with the team to ensure that the real estate requirements of our existing and potential clients are taken on board and implemented in the Centre’s growth strategy.”
DIFC Authority oversees the strategic development, operational management and administration of Dubai International Financial Centre. DIFC Properties, which is under DIFC Investments, oversees the property development of the DIFC free zone, of which roughly 40% remains to be constructed, and its supporting infrastructure.