Emaar Properties of Dubai names Mohamed Alabbar as its new MD
October 3, 2022
Business

Emaar Properties of Dubai names Mohamed Alabbar as its new MD

DUBAI (UAE) – Emaar Properties, the largest listed developer of Dubai, has named its founder and former chairman of the board of directors Mohamed Alabbar as its MD. It has also appointed Jamal Bin Theniyah as the new chairman.

Communicated in a bourse filing, the decision was taken to adhere to norms that prevent combining the position of chairman of the board and any executive position, said the firm.

The company’s board also decided to elect Ahmed Jawa as vice-chairman.

In the wake of a construction boom leading to oversupply in the city over the years, Emaar Properties has halted new building projects.

The real estate market in the city has witnessed supply outstripping demand during the last decade and it has also come under pressure from the pandemic.

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