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UAE-based Dico Group, the parent company of luxury real estate developer Damac Properties, has appointed Thierry Leleu as the Senior Vice President (Acquisitions) as part of its effort to accelerate expansion opportunities, notably in Europe and Americas.
In his previous post, Leleu served as the chief investment officer for Cromwell European REIT, a Singaporean listed trust that invests in a diversified portfolio of income-producing real estate assets across Europe.
Over his tenure as CIO, Leleu was able to boost the company's assets under management by 50% and outperformed its IPO forecasts for eight consecutive quarters, said the statement from the Emirati company.
Leleu's new mandate is exploring possibilities for further acquisitions in other sectors and notably of luxury brands for The Dico Group, such as its latest acquisition of Italian fashion power house Roberto Cavalli, it added.
"The Dico Group has enjoyed international growth by selectively choosing expansion markets and sectors that have helped position it as a major regional and international business house," said Hussain Sajwani, the founder and chairman of The Dico Group.
"The success of our global projects outside Dubai in countries as far afield as Lebanon, Saudi Arabia and Canada clearly indicates the company's ability to deliver the right product to the right market, and Leleu's appointment will further strengthen our focus into the Western markets moving forward," stated Sajwani.
On his new role, Leleu said: "I believe my strong record of accomplishments will add value to Damac and The Dico Group, which already has a number of significant acquisitions under its belt."
'I will be looking for opportunities to enhance Dico's portfolio. Together, I believe we will achieve great things," he added.-TradeArabia News Service