Damac's CEO Resigns

Dubai-based developer Damac Properties has announced that its CEO, Peter Riddoch, will be stepping down next month after seven years as head of the organization. 'To leave an organisation that has been a significant part of my life for so many years will not be easy, but I know that the time is right for me to make some changes, focus a bit more on my personal interests and family, and possibly even take on new challenges,' Riddoch said in a statement. Damac has launched 75 projects since its founding in 2003 but so far has finished just seven buildings.