Azizi Developments appoints new CFO


Azizi Developments, one of the leading private real estate developers in the UAE, has strengthened its executive team with the appointment of a seasoned chief financial officer (CFO).

Azizi Developments, one of the leading private real estate developers in the UAE, has strengthened its executive team with the appointment of a seasoned chief financial officer (CFO).

Mika Toivola brings with him an extensive background in corporate finance, treasury, financial planning and analysis, investor relations, strategic planning and risk management along with a deep understanding of the real estate and construction sectors. He has over 25 years of international and UAE experience in senior executive roles at market-leading and publicly listed real estate corporations.

Farhad Azizi, CEO of Azizi Developments, said: “Mika is an exceptional executive who has risen rapidly in his career and has had significant responsibilities in financial management, leadership, and capital markets. His background is well suited to help us drive our strategy, adding long-term value to the financial stability and progression of our organisation.

“We are committed to promoting international best practices in financial governance and compliance that will further strengthen the organisation’s performance and boost Azizi Developments’ standing locally and globally. We are delighted to have Mika on board and look forward to him overseeing our ongoing financial planning and strategy initiatives.”

Toivola has served as group CFO at Dar Al Arkan Real Estate Company, Al Arrab General Contracting CJSC, Tellabs Oy, and ABB Industry Oy/Drives Group, where he was responsible for overseeing the financial market strategies and building up the finance, risk management, and controlling functions.

Toivola holds an MSc degree in Economics & Business Administration from the University of Jyväskylä. Through his extensive experience in large multinational corporations, Toivola will reinforce Azizi Developments’ internal control systems, risk management, and financial strategies, a company statement said. – TradeArabia News Service