Dubai: There is a change at the top in Emaar Properties — Group Chief Operating Officer Amit Jain has assumed the responsibilities of CEO. This follows the stepping down by the incumbent Abdullah Lahej, which was confirmed in a statement made to the Dubai Financial Market by the developer.
The formal announcement came on the same day that Emaar confirmed a Dh3.65 billion high-rise project at the new master-development in the making, Dubai Creek Harbour, at Ras Al Khor. The Emaar stock was propelled by the news to a 2.16 per cent gain to close at Dh6.15.
“The Tower” will serve both as a monument to the city and as the anchor piece for Dubai Creek Harbour, and where the developer will soon announce details of a sizeable retail offering. The developer, which has already launched nine residential towers there, hopes to recreate the same formula that had worked so well at Downtown.
Lahej had been in the CEO’s chair since January 2014. Jain had also held the title of chief financial officer.
