Falaknaz became Aldar Properties’ CFO in 2023. As part of his role, he is responsible for a broad remit that includes the company’s finance, corporate finance, investor relations, treasury, group digital services and sustainability verticals. He also sits across the group’s various executive management committees and boards.
Prior to his current role, Falakanaz served as CFO of Aldar Investment. Falaknaz held this role between 2020 and 2023, overseeing the financials of the company’s core asset management business, a unit that includes Aldar Investment Properties, Aldar Education, Aldar Hospitality and Principal Investments.
In 2024, Aldar achieved substantial results, including a 52% net profit surge for the first nine months of the year, hitting AED 4.6 billion ($1.25 billion) with group sales reaching AED 24 billion ($6.53 billion). During Q3 2024, the property developer recorded a net profit of AED 1.3 billion ($353.93 million), up 41% year-on-year. This growth was attributed to an increase in both demand and inventory.
Between July and September 2024, the company made three significant launches, including Verdes by Haven in Dubai, The Arthouse on Saadiyat Island and Yas Riva–taking the total year-to-date launches to eight.
“Our results across the breadth of our portfolio showcase our accelerated growth trajectory, whilst remaining focused on diversifying and expanding our exciting and powerhouse business”
Falaknaz said in a statement regarding Aldar’s H1 2024 results
During the course of his career, Falaknaz has held several senior roles working for sovereign wealth funds and public companies such as Mubadala Investment Company and Emaar Properties. His experience includes mergers and acquisitions and asset management having deployed capital across the US and Europe as Vice President of Global Real Estate Investments at Mubadala Investment Company, a position he held between 2016 and 2019.
Falaknaz was also a Co-Founder of Gambit Holdings, an investment company focused on supporting early to late-stage technology companies and startups. The company’s portfolio highlights include Ripple Labs, Relativity Space, Nomod, OpenSea, AngelList, Whoop and Boom Supersonic.
Falaknaz holds a Master in Business Administration (MBA) from The Wharton School of the University of Pennsylvania, in the US, and a Bachelor of Science in Finance from the American University of Sharjah, UAE. Falanknaz is also a CFA charter holder.