Dubai Holding Makes Key Appointment

Dubai Holding yesterday said it has appointed Hashim Al Dabbal as executive chairman of the newly created property vertical as part of the restructuring of its real estate assets ahead of a planned merger with Emaar Properties in October. Al Dabbal was the executive chairman of the Dubai Properties Group. Dubai Holding also appointed Khalid Al Malek, formerly the chief executive of Tatweer, as Group CEO of the property vertical. Dr Muhadditha Al Hashimi will now be acting CEO for Tatweer. Ahmad Bin Byat, CEO of Dubai Holding, said: "This appointment will enable us to drive the necessary realignment of our property business to ensure the long-term growth and profitability of the group as we deliver on our mandate to create a better tomorrow for the communities in which we operate.

These appointments follow Dubai Holding's announcement that it is in the process of realigning its business into four verticals, focused on core competencies, to streamline its operations and ensure the continued delivery of world-class projects and future growth. Ahmad Sharaf, former Tatweer Investments CEO, has been appointed in a leading role for Dubai Holding's Corporate Strategy Office. In addition, former CEO of Dubai Properties Group Mohammad Bin Braik also moves to Dubai Holding's Corporate office to lead its newly created infrastructure division. The Property vertical integrates and leverages the strengths and portfolios of Dubai Properties Group with Sama Dubai, as well as Tatweer's real estate development projects including Reemram, The Tiger Woods Dubai, Dubailand and Bawadi.