Dubai Holding adds to senior team after revamp
Dubai, August 29, 2009
Dubai Holding has appointed Hashim Al Dabbal as executive chairman of the newly created Property Vertical, after the restructuring exercise undertaken by the company. Al Dabbal was formerly the executive chairman of the Dubai Properties Group.
Khalid Al Malik, formerly the chief executive officer of Tatweer, has been appointed as group CEO of the Property vertical. Dr Muhadditha Al Hashimi will now be acting chief for Tatweer.
“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,” stated Ahmad Bin Byat, chief of Dubai Holding.
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, formerly Dubai Properties Group CEO, Mohamed Binbrek, 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 Remraam, The Tiger Woods Dubai, Dubailand and Bawadi.
The Business Parks vertical integrates the existing operations of Tecom Investments with Dubai Healthcare City and Dubai Industrial City.-TradeArabia News Service