Ellington Capital appoints new CEO
Ellington Capital, a specialised real estate asset and fund management firm, has announced the appointment of international property investment expert Simon Townsend as its chief executive officer.
Simon Townsend will be responsible for driving the growth of Ellington Capital with a focus on identifying property development and investment opportunities in key markets in the region and internationally, including the UAE, Saudi Arabia, Oman and Qatar, and delivering consistent and strong returns to investors from across the world.
Led by a team of investment professionals with over 45 years of investment experience in private equity and real estate and over 100 years' in real estate development, Ellington Capital will also address the aspirations of millennials, who opt for rental living rather than home ownership.
Ellington Capital will shortly be launching the Ellington Opportunities Fund I, the first real estate fund in the Middle East to offer investors access to developer project returns, with capital raising about to commence. It limits risks by building on its successful track record of best-in-class corporate governance and execution, both in the region and globally.
Robert Booth, executive chairman, Ellington Capital, said: “The launch of Ellington Capital follows a thorough evaluation of the market potential for property investments in the region where we identified an industry ‘white space’ to offer tangible value propositions for investors. Through diligent fund management and strong property development and management expertise, Ellington Capital will deliver focused returns for investors. With his deep industry expertise, Simon Townsend will champion the roll out and growth of the firm in the region and beyond.”
Simon Townsend said: “The differentiating strength of Ellington Capital is its vision to support investors from across the world, irrespective of the size of their investment portfolio, to benefit from the positive prospects in the Middle East and North Africa region’s property sector. By developing world-class assets and managing their rental portfolio, we are committed to creating long-term value for our investors. The potential offered by independent real estate funds is still significant in the region and we are providing investors a bespoke fund with very clear underlying fundamentals targeting a specific market segment. The focus is to provide a transparent independent fund with world-class procedures to ensure every step from land acquisition through investment divestment is aligned with best practices and third-party audit verification.”
A specialised asset management firm launched by Ellington Properties, Dubai’s design-led property developer, Ellington Capital manages assets, drives property investment deals, advises on financial products and extends advisory on credit services, among others.
The current Covid-19 global pandemic has reiterated the significance... READ MORE
Al Adil is offering up to 50 per cent discount on over 100 foodstuff... READ MORE
One Za’abeel will redefine the mixed-use offering in Dubai and... READ MORE
Consumers in the UAE and Saudi Arabia have noted a strong inclination ... READ MORE
No clear fingerprints were found on the knives used to kill the... READ MORE
The announcement also marks a significant escalation after the... READ MORE
The new cases were detected through 198,135 additional tests. READ MORE
Holy month of Ramadan is the month of the Quran, Muslims told READ MORE