Dubai, UAE, October 24, 2007: Emaar Properties has appointed Yves Delmar as CEO of Emaar Morocco to lead a diversified portfolio of master-planned projects of development value MAD 54.75 billion (US$6.87 billion; AED 25.3 billion). Mr Delmar brings over 25 years of international industry experience and will report to Issam Galadari, Managing Director, Emaar International - Middle East and North Africa.
“Mr Delmar is an accomplished professional and has proven his experience in project design, development and construction in Switzerland and other international markets,” said Mr Galadari. “He has held senior management positions with top architectural and real estate companies, and is mandated to give an international outlook for Emaar Morocco’s operations.”
Emaar Morocco has unveiled three master-planned projects – Tinja, Oukaimeden and Saphira - as part of a MAD 42.6 billion (US$5.34 billion; AED 19.6 billion) Memorandum of Understanding with the Moroccan Government under the patronage of His Majesty King Mohammed VI, King of Morocco. Emaar Morocco has also joined hands with Onapar, part of the ONA Group, to develop the MAD 2.6 billion (US$327 million; AED 1.2 billion) Amelkis II and III, and the MAD 9.56 billion (US$1.2 billion; AED 4.4 billion) Bahia Bay.
“Emaar has proven its expertise in creating world-class master-planned projects that usher in a new lifestyle opportunity,” said Mr Delmar. “Emaar Morocco will uphold the exemplary track-record of Emaar, while being committed to the overall socio-economic development of the Kingdom through strategic partnerships, creating job opportunities for the youngsters and supporting ancillary industries.”
He added: “Emaar Morocco’s projects complement the efforts of the Moroccan Government in strengthening various growth sectors including tourism. Each has an unparalleled identity that will appeal to the Moroccans as well as to the international community, who are looking at investment opportunities in the Kingdom.”
Born in Morocco and having spent a considerable part of his early years in the Kingdom, Mr Delmar has a Masters of Science in Architecture and Urban Design from Columbia University in New York, USA, and a Bachelor of architecture from Cogswell Polytechnical in San Francisco, where he received a national award for his work on solar architecture. During his activity he has been a member of several professional associations in Switzerland including the ‘Registre A des architectes’, the SIA or ‘Société des Ingénieurs et des Architectes Suisses’ and the Swiss College of Experts.
Emaar’s expansion into Morocco is in line with its Vision 2010 to become one of the most valuable companies in the world through a two-pronged approach of geographic expansion and business segmentation. Emaar has already diversified into education, healthcare, shopping malls, finance and hospitality & leisure, and is exploring growth opportunities in these sectors in Morocco too.
