Lootah Real Estate Development (LRED) has appointed Raja Alameddine as the company’s new CEO. Raja will be responsible for leading his team strategically, expanding the company’s regional footprint and driving a new vision within the organisation. He brings extensive experience in various asset classes, including master-planned cities, mixed-use communities, and innovative lifestyle developments. As real estate offers tremendous growth potential, Raja will also leverage his rich investment banking experience to enhance Lootah’s real estate offerings further. He will also be responsible for assessing suitable partnerships or joint ventures as a business strategy for expansion into new markets and developing new product portfolios for LRED to gain a strategic edge in the market.
Arash Dara, Group CEO, Lootah Holding,commented: “Raja has a proven track record in leading and managing large real estate investment, development, financial and legal operations and offers a unique advantage in chartering this new course for our organisation. Raja’s appointment will bring continued leadership to our team with a deep focus on delivering sustainable, tech-powered, and affordable lifestyle real-estate projects to the community. We are pleased to welcome him on board and to be able to capitalise on his know-how and experience to take Lootah Real Estate Development to new heights of success.”
With more than 27 years of experience in real estate, Raja has worked with several property developers, investment banks, and contracting and design companies.
Raja’s career is characterised by strong geographical mobility, particularly in the GCC region, focusing on the UAE, contributing to his ability to adapt and succeed in different work cultures. In the UAE, he has worked with Gulf Related, where he was instrumental in implementing the group’s regional development activities and the delivery of innovative projects and large-scale communities. Before that, he has set up and spearheaded the investment division at Solidere International and oversaw the initiation and development of mega mixed-use communities and cities in the UAE, Saudi Arabia and Egypt. Additionally, he has also worked at the National Investor, where Raja established and managed real estate development funds and worked on acquiring and developing various properties in the UAE.
“Raja has a proven track record in leading and managing large real estate investment, development, financial and legal operations”
His experience in KSA includes working for Ghazzawi Group, where he successfully undertook the development of the large land bank the group owns in KSA and introduced a range of new concepts that placed Ghazzawi Group on the regional developers’ map. Prior to joining the Ghazzawi Group, Raja led the investment division of Jeddah Economic Company in KSA, where he worked on funds structuring, securing investments and reshaping the overall investment division.
Raja commented: “I would like to thank the board of directors for the trust they have placed in me and for appointing me as CEO of such a dynamic company. I am honoured to lead Lootah Real Estate Development and will focus on leveraging our team’s strengths and capitalising on opportunities that will help create value to our community.”
With more than 27 years’ experience in real-estate, Raja has worked with several property developers, investment banks, and contracting and design companies
Raja’s extensive experience and involvement in real estate will see him build a new foundation for Lootah Real Estate. This will include the release of landmark projects this year with a heavy focus on adopting sustainability and technology within the context of lifestyle mixed-use projects.
Fluent in English, Arabic and French, Raja holds a Master’s Degree in Business Administration from the American University in Beirut and Bachelor’s Degree in Engineering – with distinction, from the same University. He is also a member of the Engineers and Architects Institution in Lebanon. Married with three children, his hobbies include doing triathlons, travelling and discovering new places, and playing music.