Five promoted as Asteco reaffirms commitment to staff

  • Middle East’s largest real estate services firm underscores the importance of staff recognition and development with the announcement of five new associate director appointments

Leading UAE real estate services firm Asteco has strengthened its commitment to staff development as five new associate directors are announced.

The company, which recognises the importance of its employees to the long-term commercial success, has created a Management Selection Committee to review individual promotional prospects along with development requirements which form part of Asteco’s growth strategy which will see the company expand in the GCC while also looking to take their franchise model to Asia and Europe.

John Stevens, Managing Director, Asteco, said: “This continues to be a challenging time for the real estate industry with companies choosing to downscale and restructure their operations. However, we believe it is the perfect time to invest in our people and to empower them. It is always our desire to develop and promote from within the Asteco family and one of the drivers behind the current leadership development initiative is to support that very aim.”

With over four decades of market-leading experience, the latest promotions build on the success of Asteco’s senior executive team. Asteco’s Abu Dhabi office has added two Associate Directors to their ranks with Myrna Younes – Asset Management; Ross Kemp – Valuation and Advisory awarded the new status. In Dubai, Shilpa Guruswamy – Sales Management; Ajith Mathew – Information Technology; and Derrick Maguire – Transactional Services have gained Associate Director appointments.

“2016 marked the first year of Asteco Associate Director appointments and I’m obviously very happy to see another tranche of Asteco employees being recognised for their outstanding services to the brand. Each one of them has displayed a commitment and dedication to their role and is thoroughly deserving of this recognition,” said Stevens.

The new associate directors will have greater autonomy over budgets and will act as the figurehead within their respective departments while also being responsible for reporting to the Asteco board.

Stevens added: “Getting on the first rung of the executive ladder is challenging and requires individuals to demonstrate they have the relevant experience and ability to work independently, showing initiative to lead and manage a team.

“These appointments show that there is room to progress and advance your career with Asteco and we will reward staff accordingly.”

In 2016 Asteco launched a unique training and development facility for the UAE market and its growing community of internationally licensed brand franchisees, the Asteco Academy.

Headed by leading organisational practitioner and Head of Training & Development, Brian Weaver, the academy is an international standard facility for the region and offers franchisees access to Asteco expertise with the aim of aligning corporate deliverables with franchisee business goals, offering Continued Professional Development (CPD) opportunities to help franchises maintain a competitive edge; and providing long-term in-house support and advice as franchisees build their businesses.

Earlier this year Asteco’s leading franchisees were recognised for their outstanding contribution to the company’s sales and leasing figures which now top AED13 billion and 16 million square foot in leasing.

The top accolade, Best Franchise, was won by the Asteco Savana Office in Dubai, led by Hashim Ahmed. Criteria included the number of sales completed, residential and office leasing success rate and growth of the franchise.