One of Dubai's leading real estate tycoons will take charge of Dubai Holding, the investment vehicle of the emirate's ruler which has a $35 billion portfolio of assets in more than 20 countries, the Dubai government said on Sunday.
Abdulla al-Habbai was chosen as chairman of the investment conglomerate by Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum, the government said in a brief statement.
Habbai will remain chairman of Meraas Holding.
Dubai Holding's previous chairman, Mohammed Abdullah al-Gergawi, resigned last month after heading the company since it was founded in 2004. Gergawi said he wanted to work full-time for the Government, where he is minister of cabinet affairs and in charge of strategy development.
Within the emirate, Dubai Holding operates a wide range of business parks in addition to assets in tourism, telecommunications and other sectors.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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