Wail Farsakh was appointed to the role in April 2020
The decision reversed efforts sought by a minority group of shareholders to restructure and save the company from liquidation
It was valued at about Dhs30bn at its peak in 2014 and is now worth Dhs795m
Waleed Al Mokarrab Al Muhairi replaces Mohamed Thani Al Rumaithi who recently tendered his resignation
Wail Farsakh takes over the new role from Peter Pollard
The Dubai-basd builder made a loss of Dhs11.6 million in the second quarter of the year.
Rising administrative and contract costs lead the construction company to post a loss during the second quarter of the year.
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