UAE based NRI NAWADCO Board member
New Delhi : Prominent NRI businessman Adeeb Ahamed, has been appointed as the Director Board Member of National Waqf Development Corporation (NAWADCO), a Central Public Sector Enterprise under Ministry of Minority Affairs, Government of India.
Adeed Ahamed, an Indian entrepreneur who is based in the UAE is a multifaceted professional, philanthropist and Chief Executive Officer of LuLu Financial Group, which manages LuLu International Exchange and Managing Director of Twenty14 Holdings (hospitality) and Managing Director of Tablez Retail Pvt. Ltd.
Twenty14 Holdings, the hospitality investment firm, also headed by him owns prestigious properties like the Great Scotland Yard in London, Steigenberger Business Bay Hotel in Dubai and the Sheraton Oman Hotel in Muscat.
The establishment of NAWADCO is a follow up of Sachchar Committee recommendation. India has the largest number of Waqf properties in the world which is estimated of more than 490,000 registered Auqaf and the current annual income from these properties is about Rs.163 crores only (approx. US$23.55 million).
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