Governance
Emirates REIT’s corporate governance framework is composed of four boards and a management team. Each member has extensive experience in the region and adds a lot of value and knowledge to the REIT.
Emirates REIT is a closed-ended investment company with a mandate to invest in a diversidied portfolio of Sharia compliant real estate properties.
MANAGEMENT BOARD
The Management Board are responsible for guiding the REIT in their day to day operations and expanding and optimizing the Emirates REIT property portfolio.
Mr. Abdulla Ali Obaid Al-Hamli serves as the Chairman of the Board of Directors of Equitativa and is the Chief Advisor to the Board of Directors of DIB, previously holding a postion as Managing Director of DIB since July 2013. He served as the Chief Executive Officer of DIB from 22 September 2008 and served as its Executive Vice President of Business Services. Mr Al Hamli served as Chief of Operations and Information Technology at DIB for nine years, following 16 years in progressively senior positions at leading public and private-sector organizations in Dubai, including more than a decade and a half as the Director of Information Systems at the Dubai Ports
Authority and Jebel Ali Free Zone. Mr Al Hamli has been the Chairman of Deyaar since July 2009. He has been the Chairman and Director at Tamweel PJSC since November 2010. He serves as a Director of DIB and Deyaar. He served as a Board Member of Injazat Technology Fund II, Injazat Technology Fund and Injazat Technology Fund E.C. and as a Director at Gulf Finance House BSC. He has completed various international professional development programs and holds a B.Sc. with majors in Economics and Mathematics from Al Ain University.
Mr Sylvain Vieujot is the co-founder and Group Chairman of Equitativa Group, and the Executive Deputy Chairman of Equitativa (Dubai) Limited. Equitativa Group is a group of companies that specialise in creating and managing financial products in emerging markets and particularly Real Estate Investment Trusts. An entrepreneur with 30 years of experience in creating, expanding and listing companies, Mr Vieujot is the visionary behind industry leaders such as Freelance.com (Listed on the French Stock Market – Alternet of Euronext), Platre.com and the Enata Group. He
arrived in Dubai in 2005 and launched Emirates REIT in 2010 in a joint venture with the Dubai Islamic Bank, which became the first listed Shari’a compliant Real Estate Investment Trust in the Middle East in 2014. Mr Vieujot has a Masters in Entrepreneurship from the Haute Ecole of Commerce (HEC), France, and is an engineer in computer science, microelectronics and electro-technology.
Ms Magali Mouquet is the co-founder and Group Chairwoman of Equitativa Group, and CEO of Equitativa (AD) Limited. Equitativa Group is a group of companies that specialise in creating and managing financial products in emerging markets and particularly Real Estate Investment Trusts. Ms Mouquet has 30 years of experience in creating companies and structuring them for long-term growth and IPOs. She moved to Dubai in 2005, where she amassed substantial experience in the Middle East real estate sector. In 2013-2014, she led the IPO of Emirates REIT on Nasdaq Dubai, the first
listed Shari’a compliant REIT in the Middle East. She oversees the overall operations of the group as well as the several REITs created and managed by Equitativa, where she is particularly involved in the assets’ designs, developments and fit- out. Ms Mouquet is a dynamic entrepreneur, creating and managing several companies, such as Freelance.com (listed on French Stock Market Alternext of Euronext), Platre.com and the Enata Group. Ms Mouquet is a Harvard Business School Alumni and a certified IRO.
Mr. Trevor McFarlane joined Equitativa’s Management Board in December 2025.
Mr. McFarlane is the Founder and Chief Executive Officer of EMIR, an exclusive advisory and research firm, and brings extensive experience in geopolitical, macro-economic, financial and regional policy analysis across the Middle East. Through EMIR and its Boardroom by EMIR intelligence platform, Mr. McFarlane has built and led one of the region’s most influential executive intelligence networks, providing decision-makers with forward-looking analysis on regional risk, policy direction, and market dynamics.
Mr. McFarlane is also a Co-Founder and Executive Director of Al Majlis Group and holds a board membership position at Binghatti Holding Ltd. Prior to founding EMIR, he held analytical roles at The Economist Intelligence Unit, with responsibility for Middle East and Africa coverage.
He is one of the most sought-after business speakers in the region, and his analysis has been featured by the BBC, CNN, CNBC Arabia, The Economist and the Financial Times. Trevor formerly co-hosted Dubai Eye’s award-winning Business Breakfast Radio Show and has been invited as a guest lecturer for prestigious educational institutions, including the Ivy League Wharton School.
He holds a Master of Business Studies in Geopolitics and the Global Economy from University College Dublin.
MANAGEMENT TEAM
The Management Team are responsible for guiding the REIT in their day to day operations and expanding and optimizing the Emirates REIT property portfolio.
Mr Thierry Delvaux is the Chief Executive Officer of Equitativa (Dubai) Limited, and is a seasoned executive with over two decades of experience in the real estate industry.
Prior to joining Equitativa, Thierry was responsible for leading and managing JLL's MEA business as the CEO, and was a member of the JLL EMEA Board and JLL’s European Strategy Board. He is experienced in building and nurturing high-performing teams and understands what motivates clients with his deep and broad real estate expertise.
Prior to holding a position of Chief Executive Officer of JLL’s MEA business, Thierry has held a number of strategic and leadership positions around the world at JLL during his more than 25-year tenure. During this time, Thierry held the position of International Director and Global Head of the International Desk at JLL, based in Washington, DC. Thierry also served as the Chairman of the Global Tenant Representation Board and was a member of the Americas Executive Committee.
Thierry earned a Bachelor of Science with Honors (BS) in International Business and Japanese Studies from the Catholic University of Leuven in Brussels, Belgium, graduating in 1994.
Prior to joining Equitativa, Thierry was responsible for leading and managing JLL's MEA business as the CEO, and was a member of the JLL EMEA Board and JLL’s European Strategy Board. He is experienced in building and nurturing high-performing teams and understands what motivates clients with his deep and broad real estate expertise.
Prior to holding a position of Chief Executive Officer of JLL’s MEA business, Thierry has held a number of strategic and leadership positions around the world at JLL during his more than 25-year tenure. During this time, Thierry held the position of International Director and Global Head of the International Desk at JLL, based in Washington, DC. Thierry also served as the Chairman of the Global Tenant Representation Board and was a member of the Americas Executive Committee.
Thierry earned a Bachelor of Science with Honors (BS) in International Business and Japanese Studies from the Catholic University of Leuven in Brussels, Belgium, graduating in 1994.
Mrs Aleksandra Gladkaya brings extensive experience across legal, operational, and compliance functions within fund management and entrepreneurship.
She joined Equitativa in October 2019, and assumed the role of Chief Operating Officer and Head of Legal in February 2025. Throughout her career, she has led teams through the execution of several Emirates REIT’s key strategic initiatives, including Sukuk issuances, facility re-financings, major asset sales, and other significant transactions that have supported the continued value creation for Emirates REIT.
As Chief Operating Officer and Head of Legal, Mrs Gladkaya is responsible for Equitativa’s legal and operational functions. She oversees corporate governance, legal structuring and transaction execution, supporting the efficient operation of the business and the delivery of its strategic objectives, with a particular focus on supporting the Emirates REIT’s long-term and sustainable growth.
Aleksandra is a graduate of the University of Derby, UK, earning a Bachelor of Arts with Honors in International Business, and holds a Bachelor of Science with Honors in Business Finance from EU Business School.
She joined Equitativa in October 2019, and assumed the role of Chief Operating Officer and Head of Legal in February 2025. Throughout her career, she has led teams through the execution of several Emirates REIT’s key strategic initiatives, including Sukuk issuances, facility re-financings, major asset sales, and other significant transactions that have supported the continued value creation for Emirates REIT.
As Chief Operating Officer and Head of Legal, Mrs Gladkaya is responsible for Equitativa’s legal and operational functions. She oversees corporate governance, legal structuring and transaction execution, supporting the efficient operation of the business and the delivery of its strategic objectives, with a particular focus on supporting the Emirates REIT’s long-term and sustainable growth.
Aleksandra is a graduate of the University of Derby, UK, earning a Bachelor of Arts with Honors in International Business, and holds a Bachelor of Science with Honors in Business Finance from EU Business School.
Sheikh Muhammed Moeen joined Equitativa Group as the Group Finance Director in July 2019. Moeen is a Chartered Accountant from Pakistan and England & Wales and carry over 18-years international experience in banking and financial services sectors. In addition to core finance & accounitng and strategic planning expertise, Moeen has rich experience on corporate set up, sell-offs, mergers & acquisitions and corporate restructuring.
Prior to joining the Group he was working as the Head of Finance – International for United Bank Limited International operations based in UAE, heading the finance function of the overseas operations of the bank spread across UAE, Bahrain, Qatar, Oman, Yemen, Tanzania, China, Switzerland and USA. Before moving to the UAE he remained engaged as Chief Financial Officer of listed commercial banks, brokerage, asset management and investment bank businesses and was associated with the local affiliate of Bank of America-Merrill Lynch as the Group CFO. Moeen did his Chartered Accountancy from PriceWaterhouseCoopers LLP and has worked in credit rating agency before entering in the main-stream financial services business. Has is closely associated with the Institute of Chartered Accountants in England and Wales and has been a member of The Institute of Chartered Accountants of Pakistan’s Technical Committee for Financial Services Sector.
Prior to joining the Group he was working as the Head of Finance – International for United Bank Limited International operations based in UAE, heading the finance function of the overseas operations of the bank spread across UAE, Bahrain, Qatar, Oman, Yemen, Tanzania, China, Switzerland and USA. Before moving to the UAE he remained engaged as Chief Financial Officer of listed commercial banks, brokerage, asset management and investment bank businesses and was associated with the local affiliate of Bank of America-Merrill Lynch as the Group CFO. Moeen did his Chartered Accountancy from PriceWaterhouseCoopers LLP and has worked in credit rating agency before entering in the main-stream financial services business. Has is closely associated with the Institute of Chartered Accountants in England and Wales and has been a member of The Institute of Chartered Accountants of Pakistan’s Technical Committee for Financial Services Sector.
Timothy Collier is a Chartered Management Accountant from the UK and a Certified Anti-Money Laundering Specialist. With over 30 years of extensive international experience, Mr. Collier has worked across sectors including banking, wealth management, family office, manufacturing, information technology, real estate, and energy trading. His career spans globally recognized multinationals such as Nestlé, Philip Morris International, UBS, Rolex, and RWE.
Throughout his illustrious career, Mr. Collier has held various leadership roles in finance, strategy, and business operations. He has demonstrated a strong track record in business and corporate setups, sell-offs, mergers and acquisitions, and company restructuring. A graduate of Aston University in Birmingham, UK, he earned a Bachelor of Science with Honors in International Business and Modern Languages in 1990, laying the foundation for his diverse and impactful career.
Throughout his illustrious career, Mr. Collier has held various leadership roles in finance, strategy, and business operations. He has demonstrated a strong track record in business and corporate setups, sell-offs, mergers and acquisitions, and company restructuring. A graduate of Aston University in Birmingham, UK, he earned a Bachelor of Science with Honors in International Business and Modern Languages in 1990, laying the foundation for his diverse and impactful career.
INVESTMENT BOARD
The Investment Board is an advisory body comprising independent subject experts who have authority (by profession, expertise or reputation), and are authorised to review and confirm that they have no objection to prospective investment opportunities proposed by the REIT Manager. The Investment Board is not involved in the day-to-day management of the REIT.
OVERSIGHT BOARD
The Oversight Board are the committee appointed to oversee and supervise the activities of the REIT. All Members of the Oversight Board are independent of the REIT. The Oversight Board ensure that the REIT have adequate systems and controls in place, remain in compliance with any requirements of the relevant rules and regulations and report their findings to both the REIT and where necessary to the DFSA.
Suresh Kumar was appointed to the REIT’s Oversight Board on 16 August 2012. Mr Kumar is currently the Chairman of the Values Group in Dubai. Previously, Mr Kumar had served as a Chief Executive Officer & Board Member of Emirates NBD Capital and Emirates Financial Services PSC in Dubai ; having been a member of the Group Executive Committee for 27 years. Currently, he is also the non-executive Chairman of both the Federal Bank Financial Services as well as IDBI Federal Life Insurance Company and a Director on the Board of ICICI Prudential Asset Management Company( AMC)
-- all in India. Mr Kumar was also a non- executive board member for 8 years and stepped down as Chairman of Federal Bank in November 2013. He was the first recipient of the Rotary International Scholarship and Lord Aldington Banking Fellowship in 1977 and 1978, respectively. Mr Kumar is also a Fellow of the Indian Institute of Bankers. He had earlier completed two Advanced Management Programmes at the London School of Business and at the Columbia University. Mr Kumar graduated in Economics from the Sydenham College of the University of Mumbai in 1971.
Mr. Abdulla Al Ashram is an acting CEO of Emirates Post Group and has 19 years of high-level management, digital, strategic and operational experience. Mr. Al Ashram possess excellent organizational skills and a track-record of delivering business results & strategy. He is well versed in disruptive innovation and believes in supportive nurturing hands on leadership style and diversity. Mr. Al Ashram has profound experience in leading and directing short term and long term strategies, implementing business vision, mission and strategy to enable the organization to be
efficient, profitable, responsible and resilient, and in nurturing government and international relations, driving, managing Board relations corporate governance and overall key stakeholder engagement.
Mr. Al Ashram serves as Chairman of Instant Cash, Chairman Electronic Documents Center, Board member of Wall Street Exchange and Board member Electronic Documents Center. Mr. Al Ashram holds a bachelor’s degree in Marketing & Business Administration from Franklin University - Columbus, Ohio.
Mr. Al Ashram serves as Chairman of Instant Cash, Chairman Electronic Documents Center, Board member of Wall Street Exchange and Board member Electronic Documents Center. Mr. Al Ashram holds a bachelor’s degree in Marketing & Business Administration from Franklin University - Columbus, Ohio.
Mr. Mustafa Al Hashimi has over 10 years' experience in the Real Estate sector with a focus on hospitality. Mr Al Hashimi is currently the Chief Hospitality & Leisure Officer in the Wasl Group, where he leads the hospitality asset management team and oversees the development of new projects. Mr Al Hashimi began his career in the Oil & Gas Industry and was employed by Schlumberger the largest oilfield services company in the world, working as an Engineer In-Charge in the USA, Saudi Arabia, Qatar, and the UAE. He was the youngest high technology specialist in his field
overlooking one of the largest offshore operations in the company. During his time at the Wasl Group, Mr Al Hashimi was able to transform the structure and hospitality culture of the organization efficiently, which resulted in an exponential financial growth year on year whilst winning multiple international and local awards in both service excellence and facility/restaurant management. Mr. Al Hashimi holds a Bachelor Degree in Engineering from Concordia University in Montreal, Canada and was part of the UAE Consortium for Executive Development from INSEAD.
Mr. Simon Townsend is a Chartered Surveyor with over 29 years of experience of which 22 years internationally and is a Fellow of the Royal Institution of Chartered Surveyors (“RICS”). Mr. Townsend brings experience in the implementation of regulation and transparency in real estate activities across the region and has been active in leading and advising multi-sector real estate acquisition and disposals, and advisory and valuation assignments on landmark projects within the Middle East Region such as the Burj Khalifa, Dubai Mall, Arabian Centres across Saudia Arabia as
well as development portfolios for most of the regions largest public and private developers. He has been involved in more than US$1.8bn of real estate transactions through either direct acquisition or disposal within the UAE, GCC, USA, Europe and United Kingdom.
Through his experience in both advisory and client side, Mr. Townsend has been involved in establishing businesses in new geographies, growing and diversifying existing businesses while managing and leading cross border multi-sector and multi-region teams.
Mr. Townsend notably sat on the Middle East RICS board for valuation best practice. He has held directorship positions in reputable valuations firms, including as Chief Executive Officer of Ellington Capital (DIFC) Ltd and as a Senior Director at CBRE Middle East from August 2015 to December 2020 as well as leading the real estate team within a GCC based leading Islamic investment bank. Mr Townsend has also represented the Middle East, North Africa & Turkey on EMEA and APAC advisory boards and held independent roles within senior executive leadership groups.
Mr. Townsend holds a Bachelors degree (Honors) in Urban Land Economics from Sheffied Hallam University, UK as well as a Diploma in Hotel Investment & Asset Management from Cornell University, USA.
Through his experience in both advisory and client side, Mr. Townsend has been involved in establishing businesses in new geographies, growing and diversifying existing businesses while managing and leading cross border multi-sector and multi-region teams.
Mr. Townsend notably sat on the Middle East RICS board for valuation best practice. He has held directorship positions in reputable valuations firms, including as Chief Executive Officer of Ellington Capital (DIFC) Ltd and as a Senior Director at CBRE Middle East from August 2015 to December 2020 as well as leading the real estate team within a GCC based leading Islamic investment bank. Mr Townsend has also represented the Middle East, North Africa & Turkey on EMEA and APAC advisory boards and held independent roles within senior executive leadership groups.
Mr. Townsend holds a Bachelors degree (Honors) in Urban Land Economics from Sheffied Hallam University, UK as well as a Diploma in Hotel Investment & Asset Management from Cornell University, USA.