Anarock appoints Shajai Jacob as CEO of Middle East

Property consultant Anarock Wednesday said it has appointed Shajai Jacob as CEO of Middle East business as it aims to expand operations in the gulf region.

Jacob was previously working with JLL India as executive director & head - Marketing (West Asia).

He has been appointed as the Chief Executive Officer - GCC (Middle East) and he will be based out of Anarock's Dubai office, the consultant said in a statement.

Anarock was formed by Anuj Puri, who was earlier country head of JLL India, last year. In 2017-18 fiscal, the first year of its operation, the company posted a revenue of Rs 100 crore and aims to double it in the current fiscal.

Puri said Jacob will lead the Middle East business and expand the company's presence beyond Dubai with four new offices in Oman, Bahrain, Saudi Arabia and Kuwait over the next three quarters.

"NRIs account for approx 30 per cent of the total sales in housing projects by the most reputed Indian developers. Adding impetus to the demand from NRIs in the recent months is the slide in rupee exchange value, which translates into a corresponding drop in property prices," the statement said.

While Dubai itself contributes 60 per cent of the overall sales of Indian properties across the GCC region, this is only the tip of the iceberg, Jacob said.

"There is limitless untapped potential for an organized and professional, technology-driven residential real estate firm like Anarock," he added.

Jacob, an MBA with more than 18 years of experience, had earlier worked with major firms such as Hindustan Unilever, Yes Bank, United Spirits, Kingfisher Airlines and Barista.