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Alex Andarakis

Profile picture of Alex Andarakis

Alex Andarakis

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Name

Alex Andarakis

Your Country

United Arab Emirates

Company

Andarakis Advisory Services DMCC

Position

Founder & Managing Partner

Gender

Male

Core Industries

Destination Marketing, Education, FMCG, Food and Beverage | Hospitality, Healthcare, Real Estate, Retail

Experience

Momentum, energy and reinvention define the approach to Alex’s life, and how he has approached and successfully managed challenges throughout his 34 year professional career. Built on a foundation of senior leadership roles with Unilever, Aujan Coca Cola, Emaar Properties and Omniyat Properties, Alex combines the strategic and investigative rigor of a seasoned Chief Executive Officer with the creativity and insight of a Marketing / Design Director to ensure the delivery of his firms vision to ‘Inspire – Propel –Partner’ with clients and partners alike. Alex also serves as a Global Senior Advisor for McKinsey & Company within the Global Real Estate Practice.

Major consultancy assignments within Andarakis have included both long term Interim Management projects with Emaar Economic City, Dar Al Arkan, AWJ Holding, AMAALA (PIF Saudi Arabia) and Dubai Properties, as well as major projects for Government agencies like Ministry of Hajj & Umrah, Dubai International Financial Centre, King Abdulaziz International Airport City, Jeddah Downtown, Crown Prince Private Affairs Office (KSA) & National Security Services Company.

Board positions:

Non Executive / Advisory Board Member with Al Islami International (JV between Al Islami [Lootah Group] & Mitsubishi Foods)

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NEDs and Economic Substance (“ESR”)

Pursuant to ESR, certain companies deploying a “relevant activity” have to demonstrate that they have effective substance in their jurisdiction by satisfying a so-called “economic substance test”. ESR is in force in the UAE since 30th April 2019.

A company meets the test if it is directed and managed in the UAE and has adequate people, premises and expenditure in the country.

In this context, the composition and competence of the board of directors – composed of both executive director(s) and NED/s –, and the proper recording of minutes of all board meetings are key factors when assessing whether a company is compliant or not.

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