Spiti Consulting
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Professional Experience

Ayman El Baitam

Founder, Spiti Consulting

Seasoned real estate and finance executive with 25 years' experience across real estate operations, asset management, Big 4 audit and consulting, and C-suite leadership. Currently Chief Real Estate Officer at Awqaf Capital, overseeing a multibillion-dirham portfolio across residential, commercial, retail, healthcare, and education assets. Proven track record in group restructuring, debt negotiation, mergers and acquisitions, and building real estate departments from scratch. Holds a Global Master's in Real Estate Development from IE and is a CPA and CIA.

Career

  1. December 2024 – Present

    Chief Real Estate Officer

    Awqaf Capital

  2. January 2019 – December 2024

    Group General Manager

    Al Qattara Investments

  3. November 2014 – January 2019

    Group Finance Director

    Al Qattara Investments

  4. April 2005 – October 2014

    Director

    Ernst and Young — Abu Dhabi, Toronto and Calgary

  5. July 2002 – April 2005

    Senior Auditor

    Deloitte and Touche — Abu Dhabi

  6. April 2001 – June 2002

    Staff

    Arthur Andersen — Abu Dhabi

Key Achievements

  • Restructured USD 1 billion in debt, extending maturities and optimizing the capital structure.
  • Established Awqaf Capital's real estate function from scratch across three pillars: Investment and Development, Property Management, and Facility Management.
  • Managed a multibillion-USD portfolio across residential, commercial, retail, hospitality, and education asset classes, covering acquisition, development, management, and disposal.
  • Contributed to the development and management of Al Ain Square and the iconic Hazza Bin Zayed Stadium.

Real Estate Core Competencies

  • —Real Estate Development and Acquisition
  • —Asset and Property Management
  • —Debt Restructuring and Financing
  • —Feasibility and Highest and Best Use Studies
  • —Mergers, Acquisitions and Disposals
  • —Business Plan Development and KPIs
  • —Corporate Governance and SPV Structuring
  • —Portfolio Risk Management
  • —Team Building and Department Creation
  • —Board and Investment Committee Reporting

Detailed Experience and Competencies

Asset Management

  • Establishing a comprehensive asset management framework to oversee the performance of revenue-generating assets, including the establishment of a property management business and oversight of current property managers for all assets.
  • Managing the facility managers of all properties, including tendering of facility management works, reviewing and approving maintenance plans and CAPEX budgets, and reporting on all of them.
  • Periodic reviews of individual assets to assess performance and take corrective action where necessary.

Real Estate Development and Acquisition

  • Managing the real estate development process, including Highest and Best Use studies and feasibility studies, legal due diligence, appointing and working closely with architects, tendering and appointing contractors, managing land tender arrangements and contracting with investors.
  • Complete assessment of projects from feasibility studies to financial models (residential, commercial, hospitality and retail).
  • Developing, managing and owning business plans.
  • Urban master planning and development.
  • Project tendering and assessment.
  • Project financing and debt allocation (debt, equity, tokenization).

Strategy and Business Plan

  • Responsible for preparation and maintenance of the Group's strategy and business plan.
  • Developing Key Performance Indicators (KPIs) across all aspects of the business.
  • Developing, reviewing and testing business plan assumptions and calculations.

Corporate Governance

  • Development, monitoring and update of policies and procedures.
  • Liaison with the board of directors on board meetings.
  • Liaison with the audit committee and internal auditors.
  • Handling the relationship with external auditors and ensuring timely financial reporting.
  • Handling and maintaining relationships with legal firms.
  • Handling and maintaining relationships with financial institutions.
  • Portfolio risk management.

Organization

  • Group restructuring, including organizational restructuring, creating SPVs and debt allocation.
  • Multibillion debt negotiations and restructuring.
  • People hiring, development and training.

Operations and Finance

  • Balance sheet and profit and loss ownership.
  • Real estate valuations.
  • Business mergers, acquisitions and disposals.
  • Successful and timely implementation of ERP systems.
  • Preparation and regular maintenance of business models for the real estate portfolio, including residential, commercial, retail, food and beverage, and hotel assets.
  • Balance sheet management through proper forecasting and assessment of key balance sheet ratios.
  • Monitoring and planning group budgets and cash forecasts.
  • Acting as Chief Executive Officer for entities owned by minors, including hospitality businesses, construction companies and retail entities.
  • Real estate business reporting to senior management, including the investment committee, board of directors and other management members.

Education and Certifications

  • 2022

    Global Master's in Real Estate Development

    IE University, School of Architecture and Design

  • 2001

    B.S. in Business Administration

    American University of Beirut

  • 2006

    Certified Public Accountant (CPA)

    AICPA

  • 2003

    Certified Internal Auditor (CIA)

    IIA

  • 2016

    CFO: Becoming a Strategic Partner

    The Wharton School