Nakheel is among Dubai's top real estate developers. Image Credit: AP

Dubai: Property developer Nakheel announced changes to its senior management team in a statement on Thursday.

The new appointments come as the company enters a new phase in its continued growth and stability, Nakheel stated. “These new appointments reflect the need for a greater focus on specific development activities at Nakheel in order to meet our business needs…,” Ali Rashid Lootah, Chairman of Nakheel, said in a statement.

Mohammad Al Qassem has taken the position of managing director of Nakheel Asset Management and Infrastructure (NAMI). His role is to manage Nakheel master communities across Dubai.

Masood Al Zarooni has been appointed as managing director of projects construction, while Hamdan Al Falasi has taken the role of managing director of marine works and logistics.

Nakheel’s 2013 profit increased by 27 per cent to Dh2.57 billion, helped by a 20 per cent rise in revenue to Dh9.4 billion, in a sign that the company seems to have recovered fully from the effects of the global economic crisis.

Lootah previously said the company is committed to announcing more projects and this year will launch Dh6-8 billion worth of projects, including multiple hotels.