Dubai's Gemini restructures board amid plans to crack India, Saudi
Former CEO, Sailesh Jatania, has been named as advisor to the board of directors
Dubai-based Gemini Property Developers has restructured its board of directors in preparation for expansion to Saudi Arabia and India, a move that comes just a month after the appointment of its new chief executive officer (CEO).
The “aggressive and innovative” former Gemini CEO, Sailesh Jatania, has been named an advisor to the developer's board of directors, the company said in a statement. He will oversee a $217m (AED800m) investment plan, as the real estate developer, which has operated in Dubai for years, looks to venture into India and Saudi.
A restructure of the Gemini board of directors is one of the first major changes carried out by the company's new CEO, Sunil Gomes, who joined last month and told Construction Week he wanted to avoid “adversarial” relationships with contractors.
Jatania meanwhile, who Gemini described as an “aggressive and innovative team player”, has moved from an execution-style management role to a strategy-driven one. His expertise in programme management, financial analysis, contract negotiations, and building performance-driven teams will support the developer's international expansion.
Gemini's chairman, Sudhakar Rao, said the decision to appoint Jatania was “unanimously accepted” by the board of directors, who want to “capitalise on [Jatania's] strengths” as the business expands into “newer territories”. Rao added that the board of director's newly appointed advisor was “humble but with a hawk’s eye”.
Jatania said he was looking forward to executing his “heavy mandate” as the business, which was founded in 1986, expands into new markets and the company's new CEO pushes forward his agenda.
In October, Gemini started handing over units in Splendor, an $82m (AED300m) residential development in Sobha Hartland, located within Dubai’s Mohammed Bin Rashid City (MBR City). It is a G+8 building with a built-up area of almost 3ha.