Dubai Holding hires new CEOs

A former Goldman Sachs banker has been appointed as the chief executive of Dubai Holding, the investment vehicle of the emirate’s ruler Sheikh Mohammed bin Rashid al-Maktoum.

Amit Kaushal has been promoted from his former role as chief financial officer and will replace the outgoing Edris Al Rafi who was only appointed less than a year ago in April 2017 as part of a management reshuffle and adoption of a new organisational framework.

At the same time, Dubai Properties, the company’s real estate arm, has appointed Raed Al Nuaimi as its chief executive, replacing Abdulla Lahei who has left the group.

Al Nuaimi has been recruited from North 25, a new entity formed in May 2017 to manage multibillion dollar development projects for Dubai Holding and Meeras Holding, another Dubai-based investment vehicle.

And Amina Al Rustamani, the chief executive of Tecom Group, another of Dubai Holding’s units which operates Dubai Media City and Dubai Internet City among other properties, is to step down later this month and will be replaced by Malek Al Malek.

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