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Emaar expands board of directors
DUBAI - Emaar Properties, developer of the world’s tallest tower, expanded its board of directors to 11 members from eight and replaced four.
Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai’s Crown Prince and Chairman of the Executive Council of the emirate, nominated members of the new board of directors as the term of the current board will expire in April when the annual general meeting of the company is scheduled, according to a company statement posted on the Dubai Financial Market’s website. Members of the new board include Chairman Mohamed Ali Alabbar, Hussain Al Qemzi, Ahmad Jamal Jawa, Ahmad Thani Al Matrooshi, Jamal Majid bin Thaniah, Arif Al Dehail, Fadel Al Ali, Abdul Rahman Hareb Rashed Al Hareb, Marwan Iqbal Mohammed Abdullah Abdeen, Abdullah Saeed Balyoahah and Abdullah Mohammed Al Marri.
Four current board members who are listed on the company’s website — Drake & Scull International Chairman Majid Saif Al Ghurair, Saeed Al Tayer, Lowai Mohamed Belhoul and Khalifa Hassan Aldaboos — were not included in the new board. The term of the current board will end in April.
Shares of Emaar, UAE’s biggest developer by market value, fell 0.33 per cent to Dh3.05 on Monday. The stock has gained 19 per cent this year compared with 24 per cent advance for the benchmark Dubai Financial Market General Index.
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