Azizi Developments, one of the leading private real estate developers in the UAE, strengthened its executive team with the appointment of a seasoned Chief Financial Officer. 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.
Commenting on the appointment, 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 organization. We are committed to promoting international best practices in financial governance and compliance that will further strengthen the organization’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.”
Mika has served as group CFO at Dar Al Arkan Real Estate Co., 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 control functions. Among several other qualifications from distinguished institutions, Mika holds an MSc. Degree in Economics & Business Administration from the University of Jyväskylä. Through his extensive experience in large multinational corporations, Mika will reinforce Azizi Developments’ internal control systems, risk management, and financial strategies.
About Azizi Developments
Azizi Developments is the real estate investment arm of Azizi Group, which was established in 1989. The company’s diverse experience in the international property market has enabled it to expand to include a portfolio worth over AED45billion in Dubai, with more than 200 projects under various stages of development.
Azizi Developments was awarded ‘Best Developer of the Year’ at the Arabian Business Real Estate Awards 2019, as well as ‘Developer of the Year’ at the Construction Innovation Awards for three consecutive years in 2016, 2017 and 2018. The company is a keen advocate of the UAE Vision 2021 and has been instrumental in developing iconic properties in Meydan, Palm Jumeirah, Dubai Healthcare City, Al Furjan, Studio City, Sports City and Downtown Jebel Ali.