|Real Estate News|
It is with regret that we confirm that Mr. Peter Walichnowski, the Chief Executive Officer of Omniyat Properties, the real estate arm of Omniyat Holdings, will step down at the end of his contract on the 1st June 2009.
The group appointed Mr. Walichnowski last June to lead the company and spearhead its expansion plans both in the UAE and internationally.
Mr. Mehdi Amjad, group founder and Executive Chairman, said: ‘Peter has contributed significantly to Omniyat since he joined us, and we have greatly benefited from his experience and knowledge. However, the global financial downturn demanded a shift in strategy from growth to consolidation, and to the delivery of our existing projects. Thus, Mr. Walichnowski and Omniyat Properties have reached a mutual agreement for him to leave at the end of his contract.’
Omniyat also confirmed that Mr. Alex Andarakis, Managing Director - Sales and Marketing was released from duty on February 12th 2009.
Mr. Amjad, who will now resume the role of Omniyat’s CEO, will address the media in the coming weeks to outline the company’s key milestones, new contract awards and the extensive progress the company has made on the delivery of its first projects.
Prior to joining Omniyat Mr. Walichnowski had his own real estate company in North Asia. He also held senior management positions in a number of leading property companies around the world, including CEO of Majid Al Futtaim Investments.