Incoming CEO Kelvin Kwok was previously CEO of Emaar Middle East in Saudi Arabia
Dar Al-Arkan Real Estate Development Company has CEO Ziad Al-Chaar has resigned and will be replaced with Emaar Middle East’s former CEO in Saudi Arabia, Kelvin Kwok, the company announced on Wednesday.
In a statement, Dar Al-Arkan said that the company’s board of directors has accepted Chaar’s resignation, for personal reasons, effective September 1.
Chaar, who was previously managing director of Dubai developer Damac Properties, will remain on as an advisor to the board of directors and a member of the board until the end of its current session in June 2019.
Chaar’s replacement, Kelvin Kwok, will take his position as CEO on September 1.
Kwok has over 20 years of experience in the real estate and financial investment management sectors, and most recently was CEO of Emaar Middle East in Saudi Arabia, where he was responsible for the execution and delivery of several large real estate projects in the kingdom.