Finance Director
Majid Al Futtaim Properties LLC
Total years of experience :14 years, 1 Months
Accountable for corporate governance. preparation, implementation and compliance with policies and procedures, project
funding, development and investment control and financial reporting
Credited for setting up financial control processes for sales and customer interface and implementation thereon
Assigned with the additional responsibility of making sure sound internal control, implementation of development plans and
strategies, asset & liability management and managing risks in relation to setting and achieving organization’s objectives
HIGHLIGHTS
Commended for setting up finance functions of both projects with implementations of systems, policies &procedures and team
recruitment
Holds credential of streamlining revenue and project costs control systems for Al Zahia-the residential sales business of the JV
Recognized for arranging AED 100m+ project finance at attractive terms for funding of new Malls
Imparted great contribution to the company by optimally managing funds by negotiating high FD rates on deposits
Demonstrated exemplary expertise in achieving savings operating and marketing expenses of over AED 15Million
Successfully introduced KPIs and dashboards for timely identification of risks and control
Redesigned the revenue and project infrastructure cost control systems for Al Zahia- the residential sales business of the Sharjah
Holding JV
Meticulously arranged project finance to the tune of AED 100Million at attractive terms for Community Malls business, Matajer
Negotiated high FD rates on deposits resulting augmentation of AED 5 Million to the bottom line of Sharjah Holding JV
Acquired savings of AED 15Million in operating and marketing expense
Head
Responsible for corporate governance, including compliance with policies and procedures and Delegation of Authority (DOA)
Handled the tasks of planning/ budgeting/ forecasting and variance analysis for head office cost centers including, preparation
and support to all head office departments
Fully accountable for supporting and advising divisional and business unit heads on cost control, cost allocation and cost variance
to enable efficient business decision making
Actively participated in management of treasury operational functions including cash management
Served as a Team Member for MAF Group’s BBB rating and Team Member in securing Islamic Sukuk funding for MAF Properties
Contributed significantly in developing Finance Policies and Delegation of Authority and substantially increased credit period to
suppliers from 45 to 90 days thereby improving the working capital
Devised a cost allocation model to ensure consistent and reliable allocation of common costs for shared cost centres
Headed the Group Finance Team for implementation of Economic Value Added (EVA) performance management matrix
Served as Core Member of the IPO Team and Key Coordinator for funding consultants, business due diligence team and
investment banks
Contributed in the preparation of annual strategic plans, including investment planning, risk management and insurance planning
for the Group, including MAF Properties, MAF Retail (Carrefour), MAF Ventures (Cinemas, Leisure, Fashion, MAF Finance);
developed KPI Matrix for Group Companies.
Prepared Annual Funding Plans and Management Reports (Monthly/Quarterly and Annually) for Management and Board
Reorganized and lead the Finance function of the Company in Cairo, Egypt
Successfully implemented accounting policies and procedures in Egypt
Improved the Financial control process by implementing the internal audit recommendations
Reduced management reporting cycle times by 7 days by applying strict controls and business functions collaboration
Managed the preparation and review of feasibility studies for new projects and new strategic business alliances and advised top
management about the project viability and readiness
Supported and monitored joint ventures of the Property Group both in UAE and in other GCC countries
Set up of Accounting and Finance department and team recruitment in Bahrain.
Developed project planning and feasibilities for a big Regional Mall, two hotels and a Waterpark.
Implemented business and accounting processes of all three businesses: Shopping Mall, Hotels and Waterpark.
Successfully negotiated a USD 300 million club deal for the financing of the project.