Damac Properties approves new director

Abu Dhabi: Damac Properties, the Dubai-listed developer, announced it has approved the nomination of Nabil Alyousuf as an independent non-executive director for the company.

During a general assembly meeting held on Wednesday, shareholders also permitted the board member to conduct work competing with the company business (except to selling off plan) for a period of one year. This is in line with Item 3 of Article 152 of the Commercial Companies Law no. 2 of 2015.

Additionally, Damac approved the amended and restated draft of company’s articles of association.