Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai has appointed Abdulla Al Habbai as chairman of state-owned Dubai Holding.
Al Habbai will take the position while maintaining his role as chairman of another government unit, real estate developer Meraas Holding, according to Dubai Media Office.
— Dubai Media Office (@DXBMediaOffice) March 19, 2017
He replaces Mohammed Abdullah Al-Gergawi, who resigned as chairman of Dubai Holding last month to focus on his government role as minister of cabinet affairs and the future. Al-Gergawi had led the company since it was founded in 2004.
Dubai Holding oversees assets worth an estimated $35bn including hotel group Jumeirah, telecoms group Emirates International Telecommunications and free zone developer Tecom Group.
Meraas is the developer behind Dubai’s Boxpark, City Walk and the Beach developments.
It is also a majority shareholder in theme park destination Dubai Parks and Resorts and is building the $1.6bn Bluewaters Island near Jumeirah Beach Residence, claimed to have the world’s largest ferris wheel.