MERED appoints Michael Belton as new CEO
MERED, a leading real estate company, has appointed Michael Belton as its new Chief Executive Officer (CEO), effective immediately.
In his new role, Michael brings over three decades of global industry leadership experience. He will be based in the United Arab Emirates, where he will bolster the company's presence and spearhead its growth and expansion in the region, including the development of projects - ICONIC Tower and Al Reem Island. "Throughout his career, he has successfully overseen real estate assets exceeding $5 billion in value, including luxury residences, Class-A office spaces, civic landmarks, hotels, and mixed-use developments," the company stated.
In his previous roles, Michael served as the Head of Development for Qiddiya Performing Arts Center in Saudi Arabia. Prior to that, he worked with Wainbridge Capital in key positions, including CEO and President, for over nine years, as well as with Storm Properties as President, CMI Development as Director of Development, and Hines as Director of Development.
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Expressing excitement about his new role, Michael said, “We are at a pivotal moment for MERED as the UAE's real estate market experiences remarkable growth. The luxury segment is expected to continue expanding, culminating in a market volume of $760 billion by 2029. This trend showcases the region's relentless ambition and innovation in real estate. I am eager to build on MERED's strong foundations and collaborate with our team to deliver projects that embody this new paradigm, pushing the boundaries of design and purpose.”
MERED recently set up a new headquarters in Dubai Internet City, featuring a cutting-edge design centered on the "Contrast and Connection" concept, aimed at creating a distinctive workspace for its employees.