Naaman Atallah, formerly CEO of Dubai Properties and who ha been heading a portfolio of 144 projects worth $30 billion that included residential, commercial, retail and hospitality developments, has been appointed CEO of Piramal Group’s real estate firm Piramal Realty.
Piramal Group Executive Director Anand Piramal said the real estate sector will see consolidation because of recent government reforms such as RERA, GST, bankruptcy code and demonetisation.
“Backed by a strong balance sheet and a great team, we are well positioned to acquire land at attractive prices and build a substantial company. In this context, we are delighted to welcome Naaman, one of the most experienced and successful professionals, to lead this exciting growth phase in our company’s history,” he added.
On his new role, Atallah said: “India is the world’s fastest growing and most dynamic large economy. Perhaps no country offers growth prospects for leading real estate professionals as India does.” Earlier, he also held the position of COO at Qatari Diar.
He was also the COO of Emaar Properties PJSC, where he worked extensively on some of the world’s most iconic projects such as Burj Khalifa, Armani Hotel Dubai and The Dubai Mall.
Piramal Realty has currently over 15 million sq ft of land under development. Goldman Sachs and Warburg Pincus have invested about $434 million in the company at the entity-level.