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Dubai Holding makes new appointments post shake-up
Dubai Holding, the investment group owned by Dubai’s ruler Sheikh Mohammed Bin Rashid Al Maktoum announced on Saturday the appointment of Hashim Al Dabbal as executive chairman of the newly created property vertical.
In its media release, the company also announced that Khalid Al Malik, formerly the chief executive officer (CEO) of Tatweer, has been appointed as Group CEO of the property vertical.
Dr Muhadditha Al Hashimi will now be acting CEO for Tatweer.
Al Dabbal was formerly the executive chairman of the Dubai Properties Group.
Ahmad Bin Byat, Chief Executive Officer (CEO) of Dubai Holding said: “The calibre and capabilities of our senior leadership play a critical role in our success and we are fortunate to have in place an outstanding leadership team whose commitment and experience is greatly valued in Dubai Holding.
“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.”
On his part, Al Dabbal said: “I thank our leadership for this vote of confidence and I am confident that along with my team we can continue to ensure the delivery of our world class projects. Khalid Al Malik brings a wealth of experience on high profile projects in hospitality and leisure, healthcare, and real estate to his new position. He will play a major role in ensuring that the key projects are delivered successfully.”
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 Reemram, 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.
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Posted by Shyne, Dubai, UAE on 30 August 2009 at 20:29 UAE time
Its good that DP group is restructuring itself in its organisation level. Hope it will help the restructuring of their debt also in due course.
Posted by Pop, Dubai, UAE on 30 August 2009 at 18:01 UAE time
Whilst this re-shuffle is very welcome, I would suggest that the long-term success of Dubai is linked into making living in the Emirate affordable.
These are good times to reflect on what has happened and learn important lessons going forward.
I would encourage all master developers to take a long hard look at the service charges on all their properties. Simply using one group company to serve other group companies negates competition, increases prices and in the end is reflected in the exorbitant service charges levied on owners & residents.
My landlord is looking to offload his JBR apartment simply because the standing charges have reached over Euro 8,000 per year........... Affordable? Not to the masses.............
Posted by Mohammad Alamgir, Dhaka, Bangladesh on 30 August 2009 at 15:12 UAE time
Dubai Holding, the investment group has been appointment of Hashim Al Dabbal as executive chairman of the newly created property vertical which is warm wel-come to develop the real estate ethics in the Muslim world.Hopefully, he would success in the days come.
Posted by The one who Cares, Dubai, U.A.E. on 30 August 2009 at 09:11 UAE time
The financial turmoil should make the concerned authorities make directional changes, There are 3 to 4 government owned entities in the Golfing and hospitality business, me thinks that it is time that these entities are merged onto one. Imagine the savings this merger would provide.