IHC’s Q Holding revamps top leadership with new group CEO

The new management team has been brought on from Modon Properties as the group undergoes a restructuring since August last year

by Gulf Business

January 9, 2024

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IHC subsidiary Q Holding has announced a slew of new appointments to its C-suite. These include a new chairman, as well as the firm’s managing director and group CEO.

The company said, “This strategic restructuring exemplifies Q Holdings’ commitment to evolving the organisation for sustainable growth.”

The appointments come just days after the Abu Dhabi-based firm announced the resignation of Majed Fuad Mohammad Odeh from his post as group CEO. Odeh led Q Holding for over two years.

New leadership at Q Holding

The new appointments include Jassem Mohammed Buatabh Al Zaabi as the chairman of Q Holding, Abdullah Al Sahi as the group managing director and Bill O’Regan as the new group chief executive officer.

The new management team has been brought on from Modon Properties as the group undergoes a restructuring since August last year.

Jassem Al Zaabi, the newly appointed chairman of Q Holding, also serves as the chairman of Modon Properties and holds other key positions, including chairman of the Department of Finance – Abu Dhabi, secretary general of the Supreme Council for Financial and Economic Affairs, and board member of the Abu Dhabi Investment Authority.

Meanwhile, Abdulla Al Sahi, group managing director, has joined Q Holding from Modon Properties, where he served as the managing director and was a member of the team that founded Modon Properties back in 2018.

The new group CEO, Bill O’Regan is another Modon Properties transfer, which he has led since 2020. O’Regan delivered a number of mega projects including Hudayriat Island, Mina Wharf, Al Dhafra Region Eco-Tourism projects, Riyadh City National Housing, Baniyas North Development, and was previously with the Abu Dhabi Urban Planning Council.

Commenting on his new role as chairman of Q Holding, Jassem Al Zaabi emphasised the company remains committed to fostering economic growth in Abu Dhabi. “For the upcoming phase, our primary objectives include concentrating on the progress and economic vitality of our projects, intensifying efforts to create an integrated and sustainable system guided by a well-defined strategic vision.”

“Additionally, we aim to collaborate on the execution of high-quality projects across various sectors,” he added.

ADQ, IHC Capital propose merger with Q Holding

Q Holding, set up in 2005, has assets across sectors such as property, services and hospitality, and has diversified investments through its subsidiaries.

In August 2023, Abu Dhabi’s ADQ and IHC Capital Holding submitted an offer to Q Holding to combine ADQ’s 100 per cent shareholding of Abu Dhabi National Exhibitions Company (ADNEC), as well as its majority ownership interest in Modon Properties (Modon), and IHC Capital’s entire interest in Modon into Q Holding.

The transaction would create one of the largest real estate, hospitality, events, and catering platforms in the region that would enhance Abu Dhabi’s position as an integrated real estate and hospitality leader. Following the completion of the deal, ADQ and IHC Capital would respectively own 38.7 per cent and 19.4 per cent of the entire issued share capital of Q Holding.