Dubai's Arabtec appoints new CFO - statement

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Dubai's Arabtec Holding has appointed Iyad Abdalrahim as chief financial officer, the firm said in a bourse statement on Sunday.

Abdalrahim was formerly CFO of Arabtec's construction unit.

Abu Dhabi state fund Aabar owns a major stake in Arabtec Holding.

Last month, Arabtec Holding's newly launched subsidiary, Arabtec Properties, showcased projects worth $3.8bn (AED14bn) at the Cityscape Abu Dhabi real estate exhibition.

These projects include five local developments, three in Abu Dhabi and two in Dubai.

Hasan Ismaik, managing director and chief executive officer of Arabtec Holding, said: “The company is building on Arabtec’s solid foundations and long-standing track record of delivering high quality developments in the UAE and across the region.”

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