{"id":45566,"date":"2017-02-26T02:08:40","date_gmt":"2017-02-25T19:08:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=45566"},"modified":"2017-02-25T23:20:27","modified_gmt":"2017-02-25T16:20:27","slug":"al-gergawi-to-leave-dubai-holding-post","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/al-gergawi-to-leave-dubai-holding-post\/","title":{"rendered":"Al Gergawi to leave Dubai Holding post"},"content":{"rendered":"


\nMohammad Al Gergawi is to step down as the chairman of Dubai Holding after 18 years at the helm of the conglomerate that owns hospitality business Jumeirah Group and Tecom business parks. The replacement for Mr Al Gergawi, who had held his position since the investment group was founded, was not named in the press statement on Saturday but a spokesman said that in the interim, Dubai Holding will be led by Ahmad bin Byat, its vice chairman, and by Fadel Al Ali, the chief executive. Mr Al Gergawi, who is the Minister of Cabinet Affairs, will focus on his duties in the government. Sheikh Mohammed Bin Rashid, Vice President and Ruler of Dubai, thanked Mr Al Gergawi for his service, stating that Dubai Holding had “added real value to our national economy”. He said: “We gave him the responsibility of tackling a lot of challenges and he succeeded, and we gave him our trust after we saw his dedication and sincerity in servicing his country.”Dubai Holding also announced that its main operating arm, Dubai Holding Commercial Operations Group, posted an 8 per cent increase in net profit in 2016 to Dh6.32 billion on the back of growth across its units. Revenue rose by 16 per cent to Dh16.84bn.Mr Al Gergawi said Dubai Holding had been started with 20 employees “in rented offices with used furniture and with a small loan”. Now, he said, it has 22,000 employees in 21 countries and its Dh200 million loan has been grown into a business with assets of Dh100bn.Dubai Holding is the owner of the Tecom business parks group, the Jumeirah Group hospitality business, Dubai Properties and telecoms operator du’s parent firm, Emirates International Telecommunications.In the past year, there was growth in all the business divisions of Dubai Holding Combined Operations Group.Some highlights for the firm, which last year set itself a target of reaching Dh10bn in annual profit by 2020, include Jumeirah Group’s completion of the fourth phase of the Madinat Jumeirah resort, Jumeirah Al Nasseem, and a new terrace at its flagship Burj Al Arab property. Dubai Holding also announced that it would move its Mall of the World project to an as-yet-unspecified site on Sheikh Mohammed Bin Zayed Road to make way for Jumeirah Central \u2014 a Dh73.5bn mixed-use city district unveiled in September. It is due to be built on a site fronting Sheikh Zayed Road opposite Mall of the Emirates. Last week, Jumeirah Central’s chief operating officer, Morgan Parker, told The National that an international launch of Jumeirah Central is set to take place at the Mipim global property conference in Cannes next month, where details of the first seven buildings to be brought forward will be revealed to potential investors. These include a new office tower at the entrance to the existing Sharaf DG metro station, hotels, a hospital, residential towers and an education building.Tecom also launched the Dh30bn Dubai Wholesale City project \u2014 a 550 million square feet park aimed at wholesalers. A deal with one of the world’s biggest exporters, China Commodity City Group, was also agreed with a view to developing wholesale operations in the area.Its media operations, which fall under the remit of Tecom, helped 165 new companies move into the region, including YouTube, which has taken its first space in the Middle East at Dubai Studio City.Dubai Design District also attracted 150 new companies, including architecture firms Foster + Partners, Zaha Hadid and Benoy. About 175 companies from the technology industries also moved into Dubai internet City and Dubai Outsource City, including Visa, Huawei and Samsung Electronics.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Al Gergawi to leave Dubai Holding post<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mohammad Al Gergawi is to step down as the chairman of Dubai Holding after 18...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-45566","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-bQW","jetpack-related-posts":[{"id":24797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sheikh-mohammed-launches-jumeirah-central-project-in-dubai\/","url_meta":{"origin":45566,"position":0},"title":"Sheikh Mohammed launches Jumeirah Central project in Dubai","date":"September 3, 2016","format":false,"excerpt":"\r Dubai Holding has announced the launch of a major new city district fronting Sheikh Zayed Road that will have up to 35,000 new homes, 9 million square feet of retail space and 7,200 hotel rooms.The Jumeirah Central project will contain 47 million sq ft of gross floor area along\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24535,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-dh25-billion-mall-of-the-world-development-on-the-move-again\/","url_meta":{"origin":45566,"position":1},"title":"Dubai's Dh25 billion Mall of the World development on the move again","date":"August 31, 2016","format":false,"excerpt":"\r Dubai Holding has said that it is relocating its Dh25 billion Mall of the World project to a site fronting Sheikh Mohammed bin Zayed Road.In a statement, Dubai Holding said that the decision to move the site was taken so that it can be based in an area where\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56266,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dxb-entertainments-chief-to-lead-new-meraas-dubai-holding-project-group\/","url_meta":{"origin":45566,"position":2},"title":"DXB Entertainments chief to lead new Meraas-Dubai Holding project group","date":"May 29, 2017","format":false,"excerpt":"\r A new entity is being created that will manage multi-billion dollar development projects for both Dubai Holding and Meraas Holding. The entity will be managed by the current chief executive of DXB Entertainments, the company that developed the Dubai Parks and Resorts attraction.In a statement this morning to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4021,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/architects-keen-on-calatrava-designed-tower-at-dubai-creek-project\/","url_meta":{"origin":45566,"position":3},"title":"Architects keen on Calatrava-designed tower at Dubai Creek project","date":"February 8, 2016","format":false,"excerpt":"\r \r The new Santiago Calatrava-designed observation tower, which will be the centrepiece of Emaar Properties' Dubai Creek project, has been welcomed by architects. The tower's design was approved by Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, on Saturday, following an international design competition featuring\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18416,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-properties-appoints-new-ceo-as-abdullatif-almulla-departs\/","url_meta":{"origin":45566,"position":4},"title":"Dubai Properties appoints new CEO as Abdullatif AlMulla departs","date":"July 3, 2016","format":false,"excerpt":"\r The former chief executive of Dubai's Emaar Properties has been recruited as the new chief executive of Dubai Properties Group (DPG) - the property development arm of government-owned Dubai Holding.Abdullah Bin Lahej resigned as the chief executive of Emaar Properties Group in April this year. He had been the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39529,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-harbour-scheme-wins-plaudits-for-joined-up-thinking\/","url_meta":{"origin":45566,"position":5},"title":"Dubai Harbour scheme wins plaudits for 'joined-up thinking'","date":"January 4, 2017","format":false,"excerpt":"\r The new Dubai Harbour project has been hailed by experts as a way for Dubai to make use of its existing strengths to create a new offering in the city without starting from scratch.The 20-million-square foot project which was unveiled on Monday by Sheikh Mohammed bin Rashid, Vice President\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/45566"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=45566"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/45566\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=45566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=45566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=45566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}