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In his new role, Michael Belton will focus on expanding the company’s portfolio in the UAE
October 23, 2024 | Staff Reporter | UAE | Developers
Mered, a leading international real estate developer, has announced the appointment of Michael Belton as its new Chief Executive Officer (CEO). In his new role, Michael will focus on expanding the company’s portfolio in the UAE, including the development of the ICONIC Tower and Large-scale Abu Dhabi project on Al Reem Island.
He is also tasked with growing the Mered team to support future growth across the UAE and GCC region, enhancing investor relations, increasing the company’s market visibility, and driving innovative projects that set new standards in the real estate sector.
Prior to this, Belton served as the Head of Development for the Qiddiya Performing Arts Center in Saudi Arabia, a key part of the Kingdom’s Vision 2030 initiative. In this role, he led a world-class team to deliver an iconic property in Qiddiya City, envisioned as Saudi Arabia’s future entertainment hub, said Mered in a statement. He also held the position of CEO at Wainbridge Capital, where he managed operations across four countries and restructured the company’s board during a major merger.
With over three decades of leadership experience in the real estate industry, Belton brings a wealth of expertise in managing and developing large-scale, high-profile projects across global markets. Throughout his career, he has successfully overseen real estate assets exceeding $5 billion in value, including luxury residences, class-A office spaces, civic landmarks, hotels, and mixed-use developments, it stated.
On his new role, Belton said: "We are at a pivotal moment for Mered, as the UAE's real estate market experiences remarkable growth. The luxury segment is expected to continue expansion to 2029, culminating in a market volume of $760 billion by 2029."
"This trend showcases the region's relentless ambition and innovation in real estate. I am eager to harness Mered's strong foundations and collaborate with our team to deliver projects that embody this new paradigm, pushing the boundaries of design and purpose," he noted.
We are at a pivotal moment for Mered, as the UAE's real estate market experiences remarkable growth. The luxury segment is expected to continue expansion to 2029, culminating in a market volume of $760 billion by 2029.
Michael Belton, CEO, Mered
Mered’s current projects highlight its bold vision for the future of urban living. The Iconic Tower in Dubai Internet City, set to be the tallest building in the area at 284 m, represents a new standard in architectural innovation.
Additionally, the forthcoming waterfront project on Al Reem Island in Abu Dhabi occupies two adjacent plots, totalling over 23,000 sqm with a built-up area of 250,000 sq m, said the developer in its statement. Belton’s leadership arrives at a pivotal moment, underscoring Mered’s commitment to redefining urban spaces with innovative design and uncompromising quality, it added.
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