Under the new structure, the company will focus on carrying out professional project management, ensure timely delivery of all projects and improve its customer service.
Jain was previously executive director of finance and group chief financial officer at Emaar, according to the company’s website.
Dubai Investments is seeking to profit from a market recovery in the emirate after one of the world’s worst property crashes during the financial crisis in 2008.
The company originally announced in June that the government had seized a 1.05 million square metre plot in the Al Faisaliah district of Riyadh with a book value of SAR105.3 million.
The firm said that it would make a further announcement on its organisational structure at a later date.
Experts say that Dubai real estate would not be able to escape a temporary impact from cheaper oil but noted that the economy is well diversified to sustain the lull in oil prices.
The Dhs600 million seafront project registered Dhs432 million in sales during the first phase of launch.
The emirate’s off-plan sales market has been attracting strong investor interest despite a fall in house price growth, a new report says.
Residential rents in Dubai grew just seven per cent in 2014 while sales prices rose 18 per cent, a new report says.
The reduction is down to Aldar using some of the money due from Abu Dhabi’s government to repay debt, its CFO said.
The 25-year arrangement was awarded by state-owned Manateq.
The special cash dividend follows the successful IPO and listing of the Emaar Malls Group.
Songbird Estates is the owner of London’s Canary Wharf financial district.
Dubai’s Omniyat broke ground on a 225-unit tower in Dubai Maritime City on Tuesday, which the developer valued at Dhs600 million ($163 million).
The 600,000 sqft site, located in prime central London, will be redeveloped into a multi-use development.
The projects include a polo resort and club, a new Metropolitan hotel and a residential villa development.
The course will be operated by the Trump Organisation and will open by 2017, the developer said.
Abu Dhabi’s Aldar Properties plans to extend maturities on its obligations, its chief financial officer Greg Fewer said.
Freehold residential rents rose by 2.7 per cent between Jan-Sept, compared to nine per cent during the same time in 2013.
The contract, awarded by the government, covers the construction of staff housing at King Khaled University.
It said the buyer was a Qatari firm that was not a subsidiary of any listed company, but did not provide further details.
Almost five out of 10 Filipinos living in the UAE are prioritising property investment in the Philippines, a survey finds.
Real estate firms in Dubai are developing hotels and hotel apartments as they seek to tap into the rising number of tourists.
Apartments in Sharjah continued to see strong demand, with rents rising by 35 per cent in the 12 months to the end of Q3, a new report says.
The developer did not specify the number of new units set to be launched or the estimated completion date.
EMG listed 15.4 per cent on the Dubai Financial Market, raising $1.58 billion from the sale, which was well covered by investor bids.
The company said it would pay the special cash dividend following the recent IPO of Emaar Malls Group.
The $1 billion luxury residential and hospitality project is on track to open its doors in 2016, says developer.
The project will have 1,800 land plots and will be split into five zones featuring apartments, villas and townhouses.
Mumbai tops the list, followed closely by Bangalore, finds new survey.