Emirates REIT’s corporate governance framework is composed of five boards and a management team. Each member has extensive experience in the region and adds a lot of value and knowledge to the REIT.

Emirates REIT is a closed-ended investment company with a mandate to invest in a diversidied portfolio of Sharia compliant real estate properties.


The Management Board are responsible for guiding the REIT in their day to day operations and expanding and optimizing the Emirates REIT property portfolio.

Mr Abdulla Ali Obaid Al Hamli serves as Managing Director of DIB. Mr Al Hamli has been the Managing Director of DIB since July 2013. He served as the Chief Executive Officer of DIB from 22 September 2008 and served as its Executive Vice President of Business Services. Mr Al Hamli served as Chief of Operations and Information Technology at DIB for nine years, following 16 years in progressively senior positions at leading public and private-sector organizations in Dubai, including more than a decade and a half as the Director of Information Systems at the Dubai Ports Authority and Jebel Ali Free Zone. Mr Al Hamli has been the Chairman of Deyaar since July 2009. He has been the Chairman and Director at Tamweel PJSC since November 2010. He serves as a Director of DIB and Deyaar. He served as a Board Member of Injazat Technology Fund II, Injazat Technology Fund and Injazat Technology Fund E.C. and as a Director at Gulf Finance House BSC. He has completed various international professional development programs and holds a B.Sc. with majors in Economics and Mathematics from Al Ain University.
Mr Sylvain Vieujot is the co-founder and Group Chairman of Equitativa Group, and the Executive Deputy Chairman of Equitativa (Dubai) Limited. Equitativa Group is a group of companies that specialise in creating and managing financial products in emerging markets and particularly Real Estate Investment Trusts. An entrepreneur with 30 years of experience in creating, expanding and listing companies, Mr Vieujot is the visionary behind industry leaders such as (Listed on the French Stock Market – Alternet of Euronext), and the Enata Group. He arrived in Dubai in 2005 and launched Emirates REIT in 2010 in a joint venture with the Dubai Islamic Bank, which became the first listed Shari’a compliant Real Estate Investment Trust in the Middle East in 2014. Mr Vieujot has a Masters in Entrepreneurship from the Haute Ecole of Commerce (HEC), France, and is an engineer in computer science, microelectronics and electro-technology.
Ms Magali Mouquet is the co-founder and Group Chairwoman of Equitativa Group, and CEO of Equitativa (AD) Limited. Equitativa Group is a group of companies that specialise in creating and managing financial products in emerging markets and particularly Real Estate Investment Trusts. Ms Mouquet has 30 years of experience in creating companies and structuring them for long-term growth and IPOs. She moved to Dubai in 2005, where she amassed substantial experience in the Middle East real estate sector. In 2013-2014, she led the IPO of Emirates REIT on Nasdaq Dubai, the first listed Shari’a compliant REIT in the Middle East. She oversees the overall operations of the group as well as the several REITs created and managed by Equitativa, where she is particularly involved in the assets’ designs, developments and fit- out. Ms Mouquet is a dynamic entrepreneur, creating and managing several companies, such as (listed on French Stock Market Alternext of Euronext), and the Enata Group. Ms Mouquet is a Harvard Business School Alumni and a certified IRO.


The Management Team are responsible for guiding the REIT in their day to day operations and expanding and optimizing the Emirates REIT property portfolio.

Mr. Thierry Leleu, Chief Executive Officer of Equitativa, brings more than 25 years of experience in real estate investment and financing with him. Prior to joining Equitativa, he served as Senior Vice President of Acquisitions for DICO Group, the parent company of real estate company Damac Properties, where he led the launch of the Edgnex data centre business and efforts to accelerate expansion opportunities, notably into Europe and the Americas. Prior to this, he served as Chief Investment Officer of Cromwell European REIT, a Singaporean listed trust that invests in a diversified portfolio of income-producing real estate assets across Europe. There, Mr. Leleu was able to drive outperformance to the IPO forecasts for eight consecutive quarters while simultaneously increasing the assets under management by 50% .

Mr. Leleu also previously served as Head of Funds Management for Cromwell Property group and built out the European operation for GE Capital Real Estate Investment Management. He also brings significant legal experience having previously served as Partner at Norton Rose Fulbright and Mayer Brown and also worked at Cleary Gottlieb Steen & Hamilton. Mr. Leleu is a graduate of Harvard Law School, Sciences Po, and Universite Pantheon Assas (Paris II).
Florence Le Fur is the Group Investment Director at Equitativa Group. She joined Equitativa in 2012 as Head of acquisitions with responsibility for managing the real estate acquisitions and investment processes of Emirates REIT and The Residential REIT including the overseeing of the sourcing, selection and execution of the acquisitions.

Florence is an accomplished real estate professional with over 20 years of experience across European and the Middle Eastern markets with expertise in valuations, acquisitions, divestments and investment analysis.

She has started her career in shopping center development working on several iconic projects across Europe, before becoming a managing partner of a prominent valuation firm in Paris.

Florence holds a Master Degree in Real Estate Management from ESSEC, Business School Paris, and a Master in Commercial Real Estate from the University La Sorbonne, Paris. Ms Le Fur earned a Global Executive MBA from Insead.
Mr Alain Debare is responsible for the Real Estate Portfolios managed by the Equitativa Group and focuses on the various properties with a supervisory role to ensure the objectives are achieved. Driven by his sector knowledge and hands-on expertise, Alain is closely involved with the property managers and teams to increase the profitability and performance of the operating properties. Alain brings extensive experience in operations and development having spent most of his career in the hospitality industry, in various operational roles and more recently as a hotel owner, developer and asset manager. Alain held various management positions with leading hotel management companies, including Mandarin Oriental and Hilton Hotels Corporation and joined Equitativa in September 2018 from his role as CEO of Action Hotels PLC which he led shortly after its inception and has been key to its growth. Alain has broad international management and operations experience having worked in the Philippines, France, Venezuela, Brazil, Spain and the GCC. Mr Debare received a BA and a Masters in Hotel Management from Institut Paul Bocuse - IGL Lyon in France and has also obtained a certification in hospitality investments and asset management from Cornell University. He speaks fluent French, English and Spanish and is a founding member of HAMA (Hotel Asset Managers Association).
Sheikh Muhammed Moeen joined Equitativa Group as the Group Finance Director in July 2019. Moeen is a Chartered Accountant from Pakistan and England & Wales and carry over 18-years international experience in banking and financial services sectors. In addition to core finance & accounitng and strategic planning expertise, Moeen has rich experience on corporate set up, sell-offs, mergers & acquisitions and corporate restructuring.

Prior to joining the Group he was working as the Head of Finance – International for United Bank Limited International operations based in UAE, heading the finance function of the overseas operations of the bank spread across UAE, Bahrain, Qatar, Oman, Yemen, Tanzania, China, Switzerland and USA. Before moving to the UAE he remained engaged as Chief Financial Officer of listed commercial banks, brokerage, asset management and investment bank businesses and was associated with the local affiliate of Bank of America-Merrill Lynch as the Group CFO. Moeen did his Chartered Accountancy from PriceWaterhouseCoopers LLP and has worked in credit rating agency before entering in the main-stream financial services business. Has is closely associated with the Institute of Chartered Accountants in England and Wales and has been a member of The Institute of Chartered Accountants of Pakistan’s Technical Committee for Financial Services Sector.
Ms Saulat is the compliance officer and money laundering reporting officer (MLRO) of the REIT Manager. Ms Saulat has over 10 years of experience in compliance, working as head of compliance for the National Commodity Exchange in Pakistan and most recently with the DFSA within the markets division. Ms Saulat started her career at UBS Investment Bank, where she joined their graduate training program after completing her BSc Honors degree in business management from Kings College, London.


The Investment Board consists of independent subject experts, who have authority (by profession, expertise or reputation) and are authorised to review and confirm that they have no objection to prospective investment opportunities proposed by the REIT Manager. The Investment Board are not involved in the day to day management of the REIT.

Abdullah Al Hashemi is a Director and Owner of Al Hashemi, a planning, architectural and engineering company. Mr Al Hashemi is also a Director and Member of the Board for the Dubai Electricity and Water Authority (DEWA). He was educated in Egypt and graduated from the Fine Arts Academy – Egypt in 1979 with a bachelor of Architecture. From 1979 to 1983, Mr Al Hashemi worked with the Ministry of Public Works. He then moved to work for Dubai Municipality from 1983 to 2004, where he was appointed as Head of the Planning Department. Previously, Mr Al Hashemi has served on the boards of the Dubai Islamic Bank, AWQAF & Minor Affairs Foundation and the Private Housing Finance Scheme.
Captain David Ralph Savy was appointed to the Investment Board on 13 December 2010. Captain Savy served as chairman and chief executive of Air Seychelles for a period of 14 years until February 2011. He is currently the chairman of the Seychelles Civil Aviation Authority. Captain Savy launched his professional career as a pilot soon after his studies and has held both civilian and military posts. Civilian posts included airline captain, general manager flight operations, chief pilot, trainer and examiner with Air Seychelles. On the military side, Captain Savy served in several posts varying from commanding officer of the Seychelles Airwing to the Seychelles Defence Academy. He also holds the title of Lieutenant Colonel (Retired). Captain Savy sits on a number of government boards including the Seychelles Tourism Board. He is also a board member of H. Savy & Company Ltd. (Seychelles), H.Savy Insurance (Seychelles) and Veling Hospitality (Mauritius). Captain Savy is a board member of Veling Holding (Mauritius) and treasurer of the Seychelles Children’s Home Foundation.
Dr. Faisal Alayyan is currently the Vice-President of Rabdan Academy and is an active member of the Institution of Engineering and Technology and the Institute of Electrical and Electronics Engineers.

In 2010, Dr. Alayyan was appointed to manage the development of the new-Government-owned educational institution, Rabdan Academy, which is now pioneering a new approach to safety, security, defense, emergency preparedness, and crisis management education and training.

Dr. Alayyan brings nearly two decades of experience in planning, design, project management, and development. Dr. Alayyan managed the tendering and procurement of technically complex projects during his career. Before joining Rabdan Academy, Dr. Alayyan notably occupied several key posts in organizations such as Etisalat, Emirates Advanced Investment Group, Critical Infrastructure & Coastal Protection Authority, and Tawazun Economic Council.

During his service, Dr. Alayyan has undertaken many professional development courses and training, which has honed his technical and analytical skills to a high level. Dr. Alayyan’s academic credentials include a BSc from Khalifa University, a MSc from Melbourne University, and a Ph.D. from the Curtin University of Technology. Dr. Alayyan also completed courses at Darmstadt University of Technology, Ecole National Supérieure des Telecommunications and IMD Business School.


The Oversight Board are the committee appointed to oversee and supervise the activities of the REIT. All Members of the Oversight Board are independent of the REIT. The Oversight Board ensure that the REIT have adequate systems and controls in place, remain in compliance with any requirements of the relevant rules and regulations and report their findings to both the REIT and where necessary to the DFSA.

Suresh Kumar was appointed to the REIT’s Oversight Board on 16 August 2012. Mr Kumar is currently the Chairman of the Values Group in Dubai. Previously, Mr Kumar had served as a Chief Executive Officer & Board Member of Emirates NBD Capital and Emirates Financial Services PSC in Dubai ; having been a member of the Group Executive Committee for 27 years. Currently, he is also the non-executive Chairman of both the Federal Bank Financial Services as well as IDBI Federal Life Insurance Company and a Director on the Board of ICICI Prudential Asset Management Company( AMC) -- all in India. Mr Kumar was also a non- executive board member for 8 years and stepped down as Chairman of Federal Bank in November 2013. He was the first recipient of the Rotary International Scholarship and Lord Aldington Banking Fellowship in 1977 and 1978, respectively. Mr Kumar is also a Fellow of the Indian Institute of Bankers. He had earlier completed two Advanced Management Programmes at the London School of Business and at the Columbia University. Mr Kumar graduated in Economics from the Sydenham College of the University of Mumbai in 1971.
Mr. Abdulla Al Ashram is an acting CEO of Emirates Post Group and has 19 years of high-level management, digital, strategic and operational experience. Mr. Al Ashram possess excellent organizational skills and a track-record of delivering business results & strategy. He is well versed in disruptive innovation and believes in supportive nurturing hands on leadership style and diversity. Mr. Al Ashram has profound experience in leading and directing short term and long term strategies, implementing business vision, mission and strategy to enable the organization to be efficient, profitable, responsible and resilient, and in nurturing government and international relations, driving, managing Board relations corporate governance and overall key stakeholder engagement.

Mr. Al Ashram serves as Chairman of Instant Cash, Chairman Electronic Documents Center, Board member of Wall Street Exchange and Board member Electronic Documents Center. Mr. Al Ashram holds a bachelor’s degree in Marketing & Business Administration from Franklin University - Columbus, Ohio.
Mr. Mustafa Al Hashimi has over 10 years' experience in the Real Estate sector with a focus on hospitality. Mr Al Hashimi is currently the Chief Hospitality & Leisure Officer in the Wasl Group, where he leads the hospitality asset management team and oversees the development of new projects. Mr Al Hashimi began his career in the Oil & Gas Industry and was employed by Schlumberger the largest oilfield services company in the world, working as an Engineer In-Charge in the USA, Saudi Arabia, Qatar, and the UAE. He was the youngest high technology specialist in his field overlooking one of the largest offshore operations in the company. During his time at the Wasl Group, Mr Al Hashimi was able to transform the structure and hospitality culture of the organization efficiently, which resulted in an exponential financial growth year on year whilst winning multiple international and local awards in both service excellence and facility/restaurant management. Mr. Al Hashimi holds a Bachelor Degree in Engineering from Concordia University in Montreal, Canada and was part of the UAE Consortium for Executive Development from INSEAD.
Mr. Simon Townsend is a Chartered Surveyor with over 29 years of experience of which 22 years internationally and is a Fellow of the Royal Institution of Chartered Surveyors (“RICS”). Mr. Townsend brings experience in the implementation of regulation and transparency in real estate activities across the region and has been active in leading and advising multi-sector real estate acquisition and disposals, and advisory and valuation assignments on landmark projects within the Middle East Region such as the Burj Khalifa, Dubai Mall, Arabian Centres across Saudia Arabia as well as development portfolios for most of the regions largest public and private developers. He has been involved in more than US$1.8bn of real estate transactions through either direct acquisition or disposal within the UAE, GCC, USA, Europe and United Kingdom.

Through his experience in both advisory and client side, Mr. Townsend has been involved in establishing businesses in new geographies, growing and diversifying existing businesses while managing and leading cross border multi-sector and multi-region teams.

Mr. Townsend notably sat on the Middle East RICS board for valuation best practice. He has held directorship positions in reputable valuations firms, including as Chief Executive Officer of Ellington Capital (DIFC) Ltd and as a Senior Director at CBRE Middle East from August 2015 to December 2020 as well as leading the real estate team within a GCC based leading Islamic investment bank. Mr Townsend has also represented the Middle East, North Africa & Turkey on EMEA and APAC advisory boards and held independent roles within senior executive leadership groups.

Mr. Townsend holds a Bachelors degree (Honors) in Urban Land Economics from Sheffied Hallam University, UK as well as a Diploma in Hotel Investment & Asset Management from Cornell University, USA.


The Advisory Board provide expert strategic advice, general views and assistance to the REIT on the current state of the real estate market together with opinions on recent trends and developments. The Advisory Board members can also provide specific adhoc advice in relation to various projects as needed. The Advisory Board are not involved in the day to day duties of the REIT.

Khalid Al Malik is the Group Chief Executive Officer of Dubai Properties Group, a leading real estate developer in the United Arab Emirates. The Group has successfully delivered footprint of over 43 million square feet comprising of landmark residential communities, commercial properties and business districts in Dubai that include Business Bay, Jumeirah Beach Residence, The Executive Towers, Remraam, Al Khail Gate, Shorooq Midriff and JBR Walk. Khalid continues to spearhead the group’s growth strategy and has lead restructuring of the business in delivering fully integrated real estate developments and property management solutions. His prior responsibility was as the Chief Executive Officer of Tatweer, a major real estate conglomerate in Dubai where he was closely involved in strategy and execution of businesses in Health Care, Leisure & Entertainment and Industrial development. He has served with the Government of Dubai in senior positions and was the Director of Operations at Dubai Development & Investment Authority until 2005. Khalid serves on the board of Empower and is the member of the advisory board of Emirates REIT. He is the Executive Director on the board of Dubai Properties Group and is the Chairman of the board of Arady Developments. He also serves on the board of several international real estate companies in Morocco, Turkey and Oman. Khalid has a passion for motor sports and was the General Manager of Emirates Motor Sports Federation where he was tasked to broaden the appeal of motor sports in the United Arab Emirates. His academic credentials include a bachelor degree from the University of Arizona with a double major in Management Information Systems and Production & Operations Management; a Master in Business Administration (MBA) from the Zayed University in the United Arab Emirates with specialization in e-commerce. He is a graduate of the Dubai Government Leaders’ Programme, a component of the Mohammed Bin Rashid Programme for Leadership Development.
Michael Wunderbaldinger joined TECOM Investments as CFO from Unibail-Rodamco, the largest listed, fully integrated real estate conglomerate in Europe, where he was responsible for operations in Central & Eastern Europe. Prior to this, Michael was Chief Financial Officer & Chief Operating Officer at General Electric with various responsibilities for European wide operations, including emerging markets in Eastern & South Eastern Europe as well as for Russia and Turkey, both in the Banking as well as Real Estate industry. Michael has extensive experience across a range of Finance disciplines including restructuring and acquisition, corporate governance and compliance, real estate valuations and modelling, due diligence, and deal structuring. Michael holds a Master’s degree in Economics & Business from the Vienna University of Economics and Business Administration, as well as an MBA in General Management from the Erasmus University, Rotterdam, The Netherlands. He also holds a MBA (MBA Exchange Program) in Financial Management & Strategy from the University of Texas, Austin, U.S.A.


The Sharia Supervisory Board ensure compliance by the REIT with Sharia principles and where possible, advise, guide and provide assistance in the development and structuring of Sharia compliant transactions as well as developing the REITs business in line with Sharia best practice.

Dr Mohammad Abdul Hakim Zoeir was appointed to the Sharia Supervisory Board on 10 November 2010. Dr Zoeir has a doctorate and a master’s degree of Islamic Sharia from AI-Azhar University, Egypt. He also holds abachelor’s degree in management science. He has over 30 years of Islamic banking experience and is very highly regarded in the field of modern Islamic finance. In addition to being a member of the Fatwa and Sharia supervisory board of DIB, Dr Zoeir sits on Sharia boards of numerous financial institutions including Tamweel and Amlak.
Mian Muhammad Nazir was appointed to the Sharia Supervisory Board on 6 June 2012. Nazir has an LL.M Commercial Laws from the University of Cambridge, UK; LL.B (Hons) Sharia and Law (Distinction) and B.A Islamic Jurisprudence from the International Islamic University, Islamabad, Pakistan. Nazir is a Sharia Scholar and an accomplished Sharia practitioner in the field of Islamic banking, finance and insurance. He has extensive experience in Islamic structuring, product development and documentation of Islamic banking, finance and insurance products including retail, corporate, syndications, project finance, Sukuk, securitization, fixed income structured notes, Islamic investment funds, Waqf (Islamic trusts), real estate funds, Islamic swaps and derivatives, hedging, insurance, microfinance products and Islamic finance regulations, including governance.
Fazal Rahim was appointed to the Sharia Supervisory Board on 1st February 2016. Fazal holds a M.A. in economics from University of Karachi, Pakistan, a B.A. in Islamic Studies & Arabic from the University of Karachi, Pakistan and a PGD in Islamic Banking and Insurance from IIBI, London. He has also been certified as a Sharia Adviser and Auditor by AAOIFI, Bahrain. Fazal is an accomplished Sharia practitioner in the field of Islamic banking and finance with more than 20 years of experience in local and regional banks. He has vast experience in structuring, developing and documenting Islamic products, services and transactions across the Islamic banking and finance industry and has worked closely with regional Sharia scholars. Fazal has also undertaken and produced extensive research on many contemporary Islamic finance and banking topics. He is a member to the Islamic Banking Committee of the UAE Central Bank (the UAECB), Islamic Banking Committee of the UAE Banking Federation (the UAEBF) and Islamic Banking Coordination Committee of UAE Islamic banks.