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DUBAI: Mohamed Alabbar has stood down as chairman of Emaar Properties, but will continue to oversee the day-to-day running of the Dubai developer as managing director, according to a bourse statement.  “It was resolved that H.E. Mohamed Ali Alabbar, Chairman of the Board of Directors and Founder of Emaar, be devoted to the executive management matters and the day-to-day affairs of Emaar,” the company said in a statement to the Dubai stock market on Sunday. The move is to comply with new regulatory requirements that the same person cannot serve as chairman of the board of directors and ho...

Emaar’s Alabbar Named Managing Director in Line With Rules Bloomberg 12/13/2020 Abbas Al Lawati and Zainab Fattah © Bloomberg The logo of Emaar Properties PJSC sits on display on the top of a building near the Burj Khalifa skyscraper in Dubai, United Arab Emirates, on Monday, Oct. 12, 2020. Dubai real estate stocks were once the stars for investors betting on the city’s booming economy. But their fall from grace has been spectacular and seems set to continue, given an abundance of unsold homes and scant prospects for a recovery in the oil-rich region. (Bloomberg) -- M...