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DPG Reshuffles Management Team
DUBAI - Dubai Properties Group (DPG), a subsidiary of Dubai Holding, has replaced several executives as part of a move to improve corporate governance and efficiency, the company said on Sunday.
The property developer appointed new chiefs for financial affairs, marketing, legal affairs, operations and property development in the reshuffle.
According to a company statement, the new team includes David Anderson as the group chief financial officer; Amjid Javaid Sheikh as senior manager for compliance and risk management; Fareda Abdullah as chief operating officer; Jayne O’Brien, as chief marketing officer; Arif Mubarak as chief real estate officer; and Dominic Pilkington as executive director of legal affairs.
“I am confident our team of dedicated professionals will together lead this company through to its next phase of growth. The caliber and experience of our new corporate team will play a critical role in our journey to becoming a world-class organisation,” Al Malik said.
The reshuffle is part of a new corporate strategy that will position the company to enter its next phase of growth with a sharply defined strategic plan, the statement said.
The shake-up comes after a planned merger between three of Dubai Holding’s property firms —Dubai Properties, Sama Dubai and Tatweer —and property giant Emaar Properties was called off on December 9 when Emaar shareholders blocked the move on concerns about Dubai Holdings’ debt position.
“Over the past few months, we have been working to strengthen our corporate structure and operations. As a strongly focused organisation, we will continue to solidify our status amongst the most reliable real estate companies in the region,” Al Malik said while outlining DPG’s new mission and goals at a briefing for employees.
Al Malik also announced that Mohammed Al Habbai has been appointed Chief Executive Officer of Dubailand. Billy Daly remains the Chief Executive Officer of Dubai Asset Management, while Saeed Bushalat continues as the Chief Executive Officer of Salwan LLC, DPG’s property management service company.
Property analysts believe that after a disastrous year that saw prices falling by more than 50 per cent, Dubai’s property market would consolidate in 2010 before a recovery widely expected to start in 2011.
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