Dubai, UAE, December 12, 2006: Global real estate major Emaar Properties has appointed Omar Moawiyah Al Shunnar as Executive Director of Emaar Healthcare, the company’s healthcare subsidiary, which has announced plans to invest AED 18.35 billion (US$5 billion) in the sector.
Omar Al Shunnar, a UAE national, was earlier Chief Executive Officer of a privately owned start-up. He has served as Project Manager of the development team that worked on the Dubai Healthcare City prior to its official launch and was later appointed to the position of Chief Sales and Marketing Officer.
Having served as Finance and Operations Director with Dubai Development and Investment Authority, he has extensive banking and finance experience too, and was Head of Cash Management at Borouge Pte Ltd, Singapore. He also worked with Standard Chartered Bank, Singapore and Citibank, Dubai. A finance graduate from the University of Denver, Colorado, Al Shunnar served on the board of directors of Mohammed Bin Rashid Establishment for Young Leaders, and is a first batch graduate of the Mohammed Bin Rashid Programme for Leadership Development.
“Healthcare is one of our priority growth sectors,” said Mr Mohamed Ali Alabbar, Chairman, Emaar Properties. “It fits perfectly well with our core competency of developing master-planned communities and complements our expansion into the education sector. Having steered the sales and marketing operations of Dubai Healthcare City, Omar Al Shunnar brings in a wealth of domain knowledge and experience to strengthen Emaar’s healthcare services plans.”
Emaar’s move into healthcare is in line with the company’s Vision 2010 of becoming one of the most valuable companies in the world. As part of its portfolio diversification programme, Emaar will develop and manage over 100 hospitals in the Middle East and North Africa (MENA) and South Asian markets in the next ten years.
“Healthcare business is not driven by a simple demand and supply equation,” said Omar Al Shunnar. “What makes the true difference is quality – not just of the medical services provided but also of the infrastructure support offered. We have a clearly delineated development plan for the healthcare sector, which involves integrating advanced medical infrastructure in key centres. Emaar Healthcare will also strike strategic partnerships with international specialists to set best practice standards in the region.”
The healthcare market of MENA and South Asia, excluding medicine and pharmaceuticals, is currently estimated at AED 36.7 billion (US$10 billion) per annum. A recent United Nations report said most MENA and South Asian countries spend less than 5 per cent of their GDP on public and private healthcare services. “Emaar Healthcare will step in to meet this need for quality healthcare services also through public and private sector partnerships,” added Al Shunnar.
Emaar has several UAE nationals on key senior managerial positions underscoring the important role they play in building the prospects of the company and the country.
