GHC appoints new CEO

Manama, Sept. 28 (BNA): Gulf Holding Company (GHC), developers of the Villamar project, announced today the appointment of Majed Al Khan as CEO of the Company and the head of the Villamar development. Al Khan joins GHC with more than 15 years of experience in real estate sector, project development and investments. Previously he was Deputy CEO & Head of Investments in Al-Khaleej Development Company B.S.C., the Bahraini real estate investment company. Other roles include Head of Investments at CAPIVEST, a financial institution which largely specialized in local, regional and international real estate investing and development. Additionally, he served as a Board Member in several leading real estate development and private equity companies. Leading GHC, Mr. Al Khan will be focused foremost on the swift delivery of Villamar, where work recommenced on the luxury, mixed-use, residential project based in the Bahrain Financial Harbour. Commenting, Mr. Hisham Alrayes, Chairman of Gulf Holding Company, said, "Following the recent remobilization of construction at Villamar, we are pleased to announce the appointment of Mr. Majed Al Khan who has extensive experience and good connections in the real estate investment sector. One of the key responsibilities of Mr. Al Khan includes the reactivation of construction work on the Villamar project, which is one of the landmark real estate projects in the Kingdom of Bahrain. He will also oversee the reorganization and restructuring of GHC so that it can realize its objectives of becoming one of the major real estate developers in the Kingdom of Bahrain and broader GCC region." Mr. Al Khan, added, "I’m pleased to join Gulf Holding Company and the Villamar development team, which is the most prominent commercial landmark in the Kingdom of Bahrain. I appreciate the commitment of the Board of Directors to supporting the completion of this project and re-establishing GHC as a key player in the Bahraini and regional real estate development market."