Mubadala Development Company

Mubadala announces new Chairman and CEO of Masdar

Abu Dhabi-based Mubadala Development Company (Mubadala) has appointed H.E Dr. Sultan Ahmed Al Jaber as chairman of the board of Masdar, Abu Dhabi’s renewable energy company, and Dr. Ahmad Belhoul will be CEO of the company. Dr. Al Jaber will be succeeding H.E Ahmad Al Sayegh, Masdar’s former chairman. He will continue to serve as UAE minister of state within the federal cabinet of the UAE. In addition, he serves as the UAE Special Envoy for Energy and Climate Change. Dr. Belhoul joins Masdar from Dubai’s Department of Tourism and Commerce Marketing, where worked as CEO of Strategy. Since its 2006 launch, Masdar has delivered a portfolio of projects and initiatives, including the launch of large-scale renewable energy projects and the development of Masdar City.

Govt of Abu Dhabi to buy several Aldar assets

The Government of Abu Dhabi has agreed to purchase several of Aldar’s assets which have broad value for Abu Dhabi’s economy.
Furthermore, in a coordinated action, Mubadala Development Company has agreed to purchase a convertible bond of Aldar.
This purchase is consistent with past practice whereby the government has paid private companies for the construction of projects that are important for the development of ?Abu Dhabi’s economy but does not signal a change of government policy towards Aldar, nor towards any other commercial enterprise.

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