Dubai Holding announces launch of new ‘Family Entertainment & New Media’ vertical to manage AED 10bn projects within 5 years

Dubai Holding, the global investment holding company, today announced board changes and leadership appointments in TECOM Group ("TECOM"). These include promoting Dr Amina Al Rustamani to Chairperson of TECOM to strategically lead a new phase of development in ten business communities dedicated for information technology, design, media, education, industrial sector, transport and logistics, trade, and life sciences within Dubai Holding. The leadership changes include the appointment of Ayesha Sultan as Group Chief Executive Officer of TECOM to lead the implementation of the Group’s new strategy.

Dubai Holding also announced today the addition of a new business vertical under the name ‘Family Entertainment and New Media’, which will manage projects worth AED 10 billion during the next five years under the leadership of Mohamed Almulla. The new vertical will oversee projects that include Global Village, Arab Media Group (AMG) as well implement a strategic plan to develop new family destinations in the coming period and build new international production business communities specialised in new media, which will position Dubai as an international hub for digital production in all languages to all cultures.

Commenting on these leadership changes, Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding, said: "Since its establishment, Dubai Holding has worked on creating an integrated system to build and equip UAE Nationals that are capable of leading movements of change and evolution across businesses of the Group. Dubai Holding has a wealth of local talent that are capable of launching unique projects that support national economy."

He added: "These new changes come in preparation for a new phase of development across the Group’s businesses. This will see Dubai Holding further its growth in existing sectors, add new sectors, and strengthen investments in a diversified range of knowledge-based sectors that will contribute to strengthening national economy and maintain strong income sources in the coming years.

He said: "Dubai Holding grew its net profit by 25% in 2015 reaching over AED 5 billion, and it is our plan to maintain high profit levels during the next five years. We will also add new sectors to our businesses to adapt with global economic variables and to achieve our goal of AED 10 billion profits during the next five years, and support our national economy with over 100,000 specialised experts in innovation, knowledge and creativity.

Dubai Holding operates in 24 countries around the world, through three leading business verticals, comprising TECOM Group, Jumeirah Group and Dubai Properties Group.

Dr Amina Al Rustamani, Chairperson of TECOM Group Dr Amina Al Rustamani, Chairperson of TECOM Group has served as Chief Executive Officer since 2005. During this period she has proven strong aptitude in leading and developing business communities that today include over 76,000 specialists in a range of fields which include: information technology, design, media, education, industrial sector, transport and logistics, trade and life sciences.

Dr Amina is a member of the National Media Council and Dubai Media Incorporated in recognition of her role as one of the main influencing pillars in the local media scene, given her contribution to overseeing three of the largest media projects in the country, which include Dubai Media City, Dubai Studio City and Dubai Production City.

Dr Amina has studied electrical engineering in George Washington University in the U.S., where she has completed her Masters and Ph.D. degrees in the same specialization.

Ayesha Sultan, Group Chief Executive Officer, TECOM Group Ayesha Sultan has been appointed as Group Chief Executive Officer of TECOM Group. Ms. Sultan has served as an independent Board Member of TECOM since 2012. She joins from DP World where she worked for more than 12 years as Director of Corporate Strategy. Prior to that, Ms. Sultan worked for ‘B A Consulting Group’ in the UK and France. Ms. Sultan holds a Master’s degree from The University of Southampton, UK.

Mohamed Almulla, Chief Executive Officer of Family Entertainment and New Media Mohamed Almulla is Chief Executive Officer of Family Entertainment and New Media. Previously, he was the Chief Executive Officer of Arab Media Group, where he was at the forefront in setting new customer-centric strategies and leading the group towards attaining market growth through innovation in the entertainment sector.

Mohamed joined Arab Media Group in 2008, overseeing all aspects of the group, which comprises of three major business units; Arabian Radio Network, Done Events and Global Village. Prior to this, Mohamed held several leadership positions within TECOM between 2001 and 2008, including Executive Director of Dubai Media City, where he led the consolidation of its international status whilst playing a key role in attracting leading global media brands to the region.

Source:WAM