When approved Real Estate plans stall.

Stewart Kirkham advises governments, boards and owners on what it takes to move forward — in the GCC and worldwide.

$9B+in portfolios across the GCC, MENA and USA
$15BKSA giga-project, technical lead
$800Min JVs with semi-government stakeholders
29 yrsin real estate, since 1997

The record in Dubai, Saudi Arabia and the Gulf.

Every figure below is from a mandate Stewart led or structured.

Dubai, UAE

Home base. EY, KPMG, Meraas, MeridianValue
+25%
AUM for a UAE family office, plus an AED 150M follow-on mandate
  • Digital transformation, top-tier developer$20M
  • Savings secured at Meraas$50M
  • Innovation Fund advisoryMBRIF
  • Weekly market analysisTop Voice

Saudi Arabia

Giga-projects, JVs and retail turnaround
$15B
giga-project: technical lead for the development company and roadmap
  • JVs with semi-government partners$800M
  • Opportunities evaluated150+
  • Trading occupancy, 11 weeks+7 pts
  • Critical audit findings cleared20+

Qatar

Msheireb Properties, Doha
$5.5B
urban regeneration, 115 buildings, financial steward
  • Third-party funding$3.5B
  • PPP model$1B
  • Asset sales$650M
  • Cost reduction$500M

Oman

KPMG restructuring
$800M
debt restructured, AED 2.9B, across 90+ residential and commercial assets
  • Assets in one collateral pool90+
  • OutcomeLiquidity up

Aqaba, Jordan
Ayla Oasis waterfront destination

$1.4Bdestination

+361%F&B EBITDA

+160%footfall

350+hotel keys

Why clients hire Stewart.

Almost every engagement starts with one of these problems.

The problem

“We approved the strategy a year ago. The accounts haven't moved.”

What Stewart does

Reconciles the numbers, resets the metric that governs the asset, and clears blockers one by one until performance shows.

+7 ptstrading occupancy in 11 weeks
The problem

“Nobody can tell me who owns this decision.”

What Stewart does

Rebuilds the operating model and delegated authorities so every decision has one accountable owner.

7lifecycle policies, each with one owner
The problem

“We acquired an asset and inherited its problems.”

What Stewart does

Embeds as executive advisor and stabilizes the asset while it keeps trading through the transition.

20+critical audit findings, asset kept trading
The problem

“Our debt and our assets no longer fit together.”

What Stewart does

Restructures the portfolio into a collateral pool that improves liquidity and financial performance.

$800Mrestructured across 90+ assets
The problem

“A lender, auditor or government partner is about to scrutinize us.”

What Stewart does

Builds the governance, stage-gates, gap analysis and ESG plan that stand up to review.

Earlylender returned editorial comments only
The problem

“Our buyers underwrite everything and sales can't answer them.”

What Stewart does

Equips sales teams with evidence: buyer-segment playbooks and a peer-market comparison.

4buyer segments, 4-country market matrix

Experience built at the names that matter.

Companies Stewart has worked for

EY
KPMG
Meraas
Msheireb Properties
Abdullah Al OthaimInvestment Co.
Insignia/ESGlater acquired by CBRE
Pulte Homes
MeridianValueFounded by Stewart

AlsoAyla Oasis DevelopmentSteiner + AssociatesContinental CommunitiesdotspotCentral Place Real Estate

Education

2001 to 2003MBA, Real EstateUniversity of Wisconsin-Madison School of Business
1992 to 1997BA, International Relations and Political ScienceUniversity of Wisconsin-Madison

Professional memberships

ULIUrban Land Institute
ICSCInternational Council of Shopping Centers
MECSRMiddle East Council of Shopping Centers and Retailers

What clients and colleagues say.

Recommendations from LinkedIn

Stewart Kirkham is one of the most knowledgeable and strategic real estate professionals I've encountered. His ability to analyze complex investment structures, optimize portfolios, and unlock value in underperforming assets sets him apart. He has worked across the GCC, MENA, and North America, leading transactions worth billions and shaping large-scale developments with a clear, results-oriented approach.

What makes Stewart truly stand out is his ability to bridge financial strategy with development execution. He doesn't just structure deals, he ensures they deliver long-term value. Whether working with government entities, institutional investors, or private developers, he has a sharp eye for identifying opportunities and mitigating risks.

If you're looking for someone who understands real estate at every level, investment, development, and asset management, Stewart is the person to have in your corner. Highly recommended.

Edwin G. M.Accelerating Business Growth, UAE and Africa. Client, March 2025

I had the pleasure of working with Stewart at KPMG and can recommend him for his depth of expertise and collaborative nature. Stewart's deep knowledge of the real estate sector is unmatched, allowing him to bring valuable insights to every project. He excels at building and leveraging relationships within the industry to drive value for clients and project outcomes.

Ali JalilTransformation and Value Creation, GCC. Senior colleague at KPMG, November 2024

I had the privilege of working with Stewart, who was my manager at Ayla from 2020 to 2021. Throughout our time together, I was impressed by his exceptional leadership skills, unwavering dedication, and commitment to his work.

Stewart is an exceptional manager who consistently sets a high bar for his team by leading through his own example. He inspired us to push ourselves to achieve our best, and I am grateful for the support he provided me as I pursued my MBA. Through his guidance, I gained invaluable knowledge and expertise in strategic business planning and delivering excellent presentations.

What I appreciated most about Stewart was his approachable demeanor and willingness to listen to ideas and feedback. He is a highly valuable asset to any organization that has the pleasure of working with him.

Halla AlQuhafi, MBA, PMP, PMI-RMPProject Management and Retail Leasing. Reported to Stewart at Ayla, December 2023

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