Asteco bolsters its global investment arm

With an aim to reach out to regional clients exploring global real estate investments, Asteco has announced the appointment of Richard Angel who will help in developing its international investment arm.

Angel, an experienced investment consultant with considerable knowledge of changing global property trends, will be advising Asteco’s GCC-based clients on inward investment into the UK, European and American markets, with Asteco’s Director of Investment Agency, Simon Gray, continuing to advise on the Asian market.

‘Investments from the Middle East in Western property markets have increased significantly and we are witnessing a large number of regional investors diversifying their portfolio by looking at markets outside of the region,’ explained Andrew Chambers, Managing Director of Asteco.

‘By having an experienced on-ground consultant such as Richard here in its team, Asteco will be able to guide our regional clients on market conditions prevalent across the globe and identify suitable opportunities before they make their decisions,’ he added.

Angel’s appointment will bolster Asteco’s collaboration with Savills and help to further build access to European markets. Asteco is co-operating with the new Savills Capital Advisors team (based in London), who have considerable experience in structuring Shariah-compliant funds as well as extensive relationships in the GCC region. Working with Savills, Asteco is well positioned to manage GCC capital into direct and indirect real estate transactions globally.

‘With considerably better spending power than elsewhere in the world, investors in the Middle East, and especially in the GCC, are well-positioned to enter mature western markets such as the UK and the United States where they are seeing growing yields and diminishing competition,’ explained Richard Angel.

‘GCC investors are identifying opportunities in the United States and UK as excellent long-term investment options, as they rush to capitalise on the slump in the real estate markets in these regions,’ Angel said.

Tags: Andrew Chambers, Appointments, Asteco, Richard Angel

Al-Futtaim Motors appoints new General Manager for HINO

Al-Futtaim Motors, the exclusive distributor for HINO commercial vehicles in the UAE, announced the appointment of Paul Henning as General Manager for the brand in the UAE.

A native of Pretoria, South Africa, Paul brings with him over 23 years of expertise in the commercial vehicles industry.

He will spearhead the new direction for HINO with particular focus placed on customer care and service.

Simon Frith, Managing Director, Al-Futtaim Motors said: ‘Paul’s appointment to this key position highlights our ongoing commitment to the HINO brand in the UAE. His experience in this rapidly growing business will be an asset to Al-Futtaim Motors, HINO and the commercial vehicles market in the UAE. I am confident Paul’s strong sector knowledge, expertise and leadership qualities will add value to the organisation and continue the high standards that Al-Futtaim Group has long been associated with.’

An MBA degree holder from the University of Pretoria, Paul was General Manager - Toyota in South Africa heading up the HINO truck division with responsibility for sales, service and parts on a national level.

He also served as Managing Director and Branch Manager of MAN Centurion (Pty) Ltd where he successfully restructured and turned around the loss making entity, following which the company recorded turnover in excess of R2.3bn to sustained profitability.

He also served as Chief Operating Officer for Automotive Holdings Ltd, Australia and was member of the Management Board - Commercial Vehicles at DaimlerChrysler Financial Services.

Paul said: ‘I look forward to taking up this assignment at HINO as the company enters a new phase in its expansion programme. I am very excited with the opportunity to lead this business to reach its full potential.

‘Through my years of experience, I’ve gained a firm understanding of all aspects of the commercial vehicles industry and more importantly the emphasis which must be placed on customer care, service and meeting each person’s requirements. I plan to use this knowledge to further build on the excellent reputation of the HINO brand in the UAE.’ he added.

Tags: Al-Futtaim Motors, Appointments, Paul Henning, Simon Frith