Finance Head Appointed Following Executive Departure

Emaar Properties has appointed Pawan Chindalia as its new Group Head of Finance, effective immediately. Chindalia, currently the Head of Finance at Emaar Development PJSC, will continue in his existing role until further notice. This appointment follows the departure of the previous Group Head of Finance, whose reasons for leaving were not disclosed in the company filing.

Chindalia brings nearly 15 years of experience within the Emaar group, having worked across various core businesses including Emaar Development, Emaar Malls, and Burj Khalifa. His experience spans financial transformation, strategic growth, and performance turnaround. Prior to his time at Emaar, Chindalia held roles at Damac Properties, and has over 20 years of experience in finance leadership.

This change comes amidst recent significant developments for Emaar. Last week, Dubai Holding increased its stake in Emaar Properties to 29.73%, becoming the largest shareholder. Additionally, Emaar announced plans to independently operate The Eighth Gate, its mixed-use development in Damascus, without a local partner.

In other news, Emaar's founder, Mohamed Alabbar, recently made comments about his preference for hiring Indians due to their work ethic, highlighting the importance of hard work and discipline in business culture.