Tatweer in major corporate shake-up

CORPORATE SHAKE-UP: An artist's impression of Tatweer's Dubailand development. (Supplied)

Dubai-based leisure and entertainment giant Tatweer said on Monday it is restructuring its operations into two divisions as the company looks to expand oversees.

Tatweer’s various businesses will now operate under either Tatweer Dubai or Tatweer Investments, with former focusing on the company’s domestic business and the latter working on growing its international presence.

The company, a subsidiary of state-owned conglomerate Dubai Holding, said the restructuring will also enhance its corporate governance.

“As a strategic driver of a select group of entities, Tatweer’s restructuring initiative is in response to its enormous growth curve,” Tatweer Executive Chairman Saeed al Muntafiq.

“It also marks the transition of Tatweer from its initial phase of identifying core business areas to its next state of delivering critical projects in Dubai while establishing a sound base for international growth.

“The new organisational structure is built around our core values of higher accountability, operational priorities, and performance management.”

Tatweer Dubai will be headed up by CEO Khalid Al Malik, while Tatweer Investments will be led by CEO Ahmad Sharaf.

Tatweer Dubai’s businesses include Dubai Healthcare City (DHCC), Dubailand, Bawadi and Dubai Industrial City.

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