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Kaushal and Al Nuaimi ... major task at hand.

Dubai Holding names new CEOs in key revamp

DUBAI, February 5, 2018

Dubai Holding, the investment conglomerate owned by Sheikh Mohammed bin Rashid, the Vice President and Prime Minister and Ruler of Dubai, has appointed Amit Kaushal as its new chief executive, replacing Edris Alrafi who had held the position since last April.

Kaushal was previously chief financial officer at Dubai Holding. He was also senior vice president of funding and treasury management at real estate developer Meraas Holding, and, before that had worked for Goldman Sachs Group, UBS Group and Deutsche Bank in London and Dubai, reported The National.

“We confirm that Edris Alrafi has stepped down from his position as CEO of Dubai Holding and will be succeeded by Dubai Holding’s CFO Amit Kaushal who has been with the company since April 2017,” stated the report, citing a spokesperson from Dubai Holding.

No reason was given for the departure.

Also, in a major move, Dubai Holdings' real estate unit Dubai Properties has appointed Raed Al Nuaimi as the new Group Chief Executive Officer after Abdulla Lahej stepped down from office.

Al Nuaimi comes from North 25, a new entity which was set up last year to manage multibillion dollar development projects across Dubai Holding and real estate developer Meraas Holding, stated The National report.

The leadership change follows a reshuffle of senior officials at Dubai Holding last year, involving the departure of the chief executive and vice chairman.

Dubai Holding has assets worth Dh130 billion ($35.3 billion). Its portfolio companies own business hubs, hotels, resorts as well as telecommunications and financial services it added.




Tags: real estate | Dubai Properties | Dubai Holding | Meraas |

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