Dubai: Emaar Development, one of the biggest developers in Dubai, will have a new CEO. This follows the resignation of Bader Hareb from the post, effective today.
The company has not disclosed any new appointment, even one in an interim capacity. For the first nine months of 2021, the company delivered a net profit of Dh2.4 billion on revenues of Dh11.6 billion.
Emaar's Dubai operations had been one of the biggest beneficiaries of the wider upturn in the property market. Newer locations such as Emaar Beachfront are proving popular with offplan buyers, while established destinations such as Downtown and Dubai Marina keep picking up new buyers. When it comes to future revenues, Emaar had a sales backlog of Dh28.471 billion at the end of September.