Abu Dhabi, UAEThursday 26 November 2020

Nakheel appoints Naaman Atallah as its new chief executive

Mr Atallah held key leadership positions at Dubai Properties and Emaar

Nakheel's headquarters building in Dubai. Image courtesy of Nakheel
Nakheel's headquarters building in Dubai. Image courtesy of Nakheel

Dubai-based master developer Nakheel appointed Naaman Atallah as its new chief executive, the company said in a statement on Sunday.

Mr Atallah previously held “key leadership positions” at Dubai Properties, Emaar and most recently at Piramal Realty in India.

“As we enter a new phase in our growth, his extensive experience and proven track record will be key in further enhancing Nakheel’s position as ... [an] organisation that plays a pivotal role in the growth of Dubai’s real estate sector,” Mohammed Ibrahim Al-Shaibani, chairman of Nakheel, said.

Nakheel’s developments span 15,000 hectares and include projects such as Palm Jumeirah, Jumeirah Village, Al Furjan and Discovery Gardens, among others. It also owns shopping malls including Ibn Battuta Mall and Dragon Mart.

Earlier this year, Nakheel restructured its top management and appointed Mr Al Shaibani as its chairman after its previous chairman Ali Rashid Lootah moved to take up a new position on the Dubai World board.

The developer last month said it sold more than Dh1.2 billion worth of ready-to-occupy villas since March this year amid the coronavirus pandemic.

Dubai's real estate market has slowed after a drop in oil prices that began in 2014, and has been faced further pressure from a pandemic-induced economic slowdown earlier this year. However, in recent months transaction levels have picked up again as movement restrictions eased.

Updated: November 22, 2020 07:22 PM

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