A new entity is being set up in Dubai to manage the multi-billion dollar development projects for Dubai Holding, a global investment holding company, and UAE developer Meraas.
Raed Kajoor Al Nuaimi, the chief executive officer of DXB Entertainments, has been appointed as the acting CEO of the new organisation.
Announcing the new entity, Abdulla Al Habbai, the chairman of DXB Entertainments as well as of Dubai Holding and Meraas Holding, said: "Al Nuaimi will be in charge until a new CEO is appointed."
"He will thereafter continue as a senior executive with the company, in the role of managing director and executive member of the board of directors," he added.
Dubai Holding is an investment conglomerate with operations in 21 countries employing over 22,000 people.
It manages a Dh130 billion ($35 billion ) portfolio of assets, which supports the strong development of Dubai’s non-oil economy across sectors including tourism, hospitality, real estate, media, ICT, education, design and trade.-TradeArabia News Service