​​​​A Real Estate Spotlight|Interview with Imad Abulaban, CEO of CapitalStone

Entrepreneurship Experience

Under the spotlight of Entrepreneurs Years Journal and in a candid interview, Imad Abulaban divided more or less his entrepreneurship experience into four phases. In retrospect, Early Years phase outlines the basic personal information and educational background; followed by the Career that elaborates how Imad Abulaban began his first venture, Projacs (1985-1997), inspite of his rising career during his first four employment years with KEO. Followed by Foremost Leap in year 1987, that earmarked the award of the most prestigious project in Kuwait and Gulf region. In just about eight years since his graduation, Imad Abulaban along his venture partnership gained recognition into the big club of mega projects that proved for many years ahead to be pivotal for company expansion on a number of strategic roles within Kuwait and other Gulf countries. The Present Role phase, sketched out how after the sale disposition of his second venture PolyStar (1998-2006), and along a major Saudi conglomerate, CapitalStone was founded in 2007 as a full fledge privately held real estate investment, development and management company. In each of the three ventures founded, Imad Abulaban was fully immersed in shaping the company's vision, strategy, organizational structure and private capital franchise in addition to primarily responsible for the management of its day to-day activity.

 

Imad Abulaban is presently the founder, President and CEO of CapitalStone Holding, a real estate company domiciled at Dubai International Financial Center [DIFC].

 

Early years

Born in January 23, 1958 in Beirut, Imad Abulaban was raised and studied in Lebanon up to the end of high school years, while went aboard for his under and graduate studies. Upon completion of his baccalaureate schooling from the National College of Choueifat in Lebanon in 1975, he earned BSc in civil engineering from University of California at Berkeley in 1979 and an MSc in construction engineering and management from University of Michigan at Ann Arbor in 1980.

 

Career 1981-2006

Imad Abulaban moved to Kuwait in 1981 after completing his graduate studies. Upon the construction completion of Kuwait Stock Exchange complex, he founded Projacs (1984 -1997), a Kuwaiti-based construction management partnership. Following the sales of his stake after 13 years of business therein, he founded PolyStar [1998-2006], a Lebanese-based boutique development services company. His early projects were private houses, office building and other assignments.

 

The First Key Milestone, 1987: The break into the big league of large projects came when he structured and concluded a joint venture arrangement for his firm first in 1987 with Turner and the second in 1990 with Bovis. Both ventures thereafter were each was awarded a major contract; whereby (i) on first instance, to build the seat of government of Kuwait, the Amiri Diwan complex, and (ii) on second instance, the headquarters of Oil sector complex. More than 38 other major buildings and project engagements followed thereafter in Kuwait, Saudi Arabia, Jordon, Lebanon, Syria, Egypt, Qatar and Bahrain - just to name a few - the headquarters of GIC, NBK, SABIC and NCCI, in addition to the Bayan Palace ,Kuwait Sheraton, Jabal Al Kaba center, TAIBA, Grand Hyatt Amman, Riyadh Marriott, CityStars, Le Platio hotel, City Fanar and Hail City. As the Managing Partner, he was in-charge for the delivery of USD 5 Billion worth of cumulative projects work relative to the 2 business enterprises that extended over 20 million feet of building area within 15 Middle Eastern cities.

 

Present Role 2007- current

In 2007 and together with a major Saudi conglomerate, Imad Abulaban founded CapitalStone Holding, a privately held real estate investment, development and management firm domiciled in Dubai International Financial Center [DIFC] out of United Arab Emirates. As the President and CEO, he is in-charge of directing the company policy and procedure along its operations which is presently geared on acquiring, developing and managing more than 12 properties in 8 cities, representing more than 3 Million square feet of space. While cultivating investor relations, he participates in setting up business ventures and opening new geographic markets within the entire Middle East and North African [MENA] region. He is in-charge of introducing new property sectors, initiating acquisitions and overseeing the enlargement of major sources of equity and debt financing to secure more than USD 1.1 Billion. He is leading the venture towards creation and expansion of its holdings, products and services including growing its capital base, while reinforcing its reputation for excellence. Presently, the firm is controlling a diversified real estate portfolio of existing and target assets valued at approximately USD 2 Billion allocated among several property sectors that are underway at various stages of development such as technology, Industrial / logistics and mixed-use plus those progressing during predevelopment such as energy, office park, healthcare, residential and master-planned communities.

 

Recognition

Imad Abulaban attributes the culmination of his experience to working closely with such worldly recognized investors and developers as Digital Realty Trust and USAA, prominent construction managers as Turner, Bovis, CRSS, McGovern+Moriarty, Jacobs and Parsons, major operators as Marriott, Starwood, Radisson/SAS and Jumeirah and notable architects as Cesar Pelli, SOM, HOK, WATG, KPF and RTKL and many others. He received recognition for his adherence to the highest quality standards and was credited for introducing effective budget control initiatives virtually on all projects managed by his ventures, while serving as a board member and advisor for few real estate and construction-related firms within the Arab and Gulf region. He is also a member of the Urban Land Institute (ULI), the International Council of Shopping Centers (ICSC), the International Hotel and Restaurant Association (IH&RA) and the Project Management Institute (PMI) as well a frequent sought-after guest speaker at industry events including Cityscape, GRI and MIPIM.

 

References

• •"PolyStar" http://archive.arabnews.com/?ge=6§ion=0&article=45366&d=21&m=5&y=2004.

• • “ITP” http://www.itp.net/479620-investors-snap-up-shares-in-city-fanar-issue

• • “Arabian Business” http://www.arabianbusiness.com/city-fanar-takes-shape-206232.html

• • “Ameinfo” http://www.ameinfo.com/39854.html

• • “PolyStar” http://www.polystarcorp.com/AboutUs/AboutUs.htm

• • "Amiri Diwan complex" http://www.turnerconstruction.com/international/content.asp?d=2422.

• • "Kuwait Sheraton" http://www.sheratonkuwait.com/.

• • "Grand Hyatt Amman" http://www.amman.grand.hyatt.com/hyatt/hotels/index.jsp

•  • "Riyadh Marriott" http://www.marriott.com/hotels/travel/ruhsa-riyadh-marriott-hotel/.

• • "City Fanar" http://www.highbeam.com/doc/1G1-118104450.html.

• • "CapitalStone Holding" http://www.capitalstoneHolding.com/.

• • “DIFC” http://www.difc.ae/apps/registers/DifcRegistrySearch/result.php?companyId=1009

• • “Wikibiz” http://www.mywikibiz.com/Directory:Imad_Abulaban

• • “Zawya PR” http://www.zawya.com/story.cfm/sidZAWYA20101017061608

• • “Ameinfo” http://www.ameinfo.com/243550.html

• • “Al bawaba” http://www1.albawaba.com/news/new-jv-provide-construction-services-clients

• • “PRLog” http://www.prlog.og/11025151-moriarty-and-mcgovern-joint-venture-with-capitalstone-holding.html

• • “Bloomberg Business Week” http://investing.businessweek.com/research/stocapshot.asp?privcapId=4393659“

• • "GRI” http://www.mygri.com/GRI2010MenaBrochure.pdf

• • “Digital Realty Trust ” http://www.digitalrealtytrust.com/

• • “USAA” http://www.usrealco.com/default.aspx

• • “School of Choueifat” http://en.wikipedia.org/wiki/InternationalSchool of ChoueifatCredits:

• •"Wix.com" This website is customesed from WIX [www.wix.com].