Lootah undergoes recruitment drive with COO, CFO appointments

Russell Owen and Faraz Kothari will help drive the real estate developers’ next phase of growth

Russell Owen (pictured) will become Lootah Real Estate Development's chief operations officer
Russell Owen (pictured) will become Lootah Real Estate Development's chief operations officer

Lootah Real Estate Development has completed “significant changes in leadership” by appointing Russell Owen as chief operations officer (COO) and Faraz Kothari as chief financial officer (CFO).

The firm said the appointments aim to redirect the focus on ensuring a transition towards the next phase of growth in the “beginning of a new era” post-COVID-19.

As Lootah’s COO, Owen will build on Lootah’s capabilities in areas of real estate and development, including the acquisition of new assets, renovations and upgrades to its existing assets and then ultimately the disposal of its assets.

Kothari, who is touted as one of the “strongest financial experts” in the industry, has more than 15 years of experience in financial management and has played an integral role in Lootah’s key investment strategies as finance director.

According to CEO Saleh Abdullah Lootah, the move reflects the company’s strategy to adapt and keep pace with the changes in market conditions.

“We enthusiastically welcome Owen and Kothari in their new roles. I am confident that their track record and breadth of experience will further thrust the company towards a new chapter of growth and market leadership in this new world order,” said Lootah.

“Their proven ability to drive key results is crucial in forging more major client relationships as well as delivering value to shareholders.”

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