The operator of Dubai Parks and Resorts, DXB Entertainments, is to appoint new CEO.
Raed Kajoor Al Nuaimi, currently CEO of DXB has been appointed as CEO to lead a new entity in Dubai.
This new organisation will “lead a development group that will manage multi-billion dollar development projects across Dubai Holding and Meraas Holding”, a statement to the Dubai Financial Market said.
The appointment of Raed Kajoor Al Nuaimi was made by Abdulla Al Habbai, chairman of DXB Entertainments, Dubai Holding and Meraas Holding. Abdulla Al Habbai is currently the chairman of Meraas Holdingand chairman of Dubai Holding.
Mr Raed Kajoor Al Nuaimi will remain as its CEO of DXB Entertainments until a replacement is found.
“He will thereafter continue as a senior executive with the company, in the role of managing and executive member of the board of directors,” the statement said.
“The appointment of a new CEO will be announced by the company in due course,” DXB Entertainments said.
Raed Kajoor Al Nuaimi and DXB Entertainments
DXB Entertainments is majority owned by Meraas Holding, which keeps its 52.29 per cent stake in the company.
Dubai Holding and Meraas Holding are each currently planning ambitious new developments. Dubai Holding announced recentlyit is to develop Marsa Al Arab. This Dh6.3 billion project is centred on a pair of new islands close to Burj Al Arab. It will be home to a marine park, a new theatre and the new site for the existing Wild Wadi Waterpark. It will alos boast 20,000 sq. metres of retail space together with nearly 2,500 hotel rooms.
For its part, Meraas Holding is developing Dubai Harbour. Highlights of this new project include a cruise liner terminal, a berth marina, a 3.5 million sq. ft. mall and the Dubai Lighthouse.
David Clifton is regional development director for project management firm Faithful + Gould. He thought Dubai Holding’s plan was an interesting development. He also noted that the project management discipline and experience was important.
Clifton told The National, “Meraas has got a recent history of project delivery. But Dubai Holding has not really been a developer per se – it’s more of an investment vehicle. It’s set up to be what it is – a financial organisation. If you asked a bank to deliver a programme of works in the construction industry, they wouldn’t have a clue.”