The real estate sector in Dubai will get a boost with the appointment of Abdulla al-Habbai as the chairman of Dubai Holding, the investment vehicle of the Emirate’s ruler which has a USD 35 billion portfolio of assets in over 20 countries.
Abdulla is one of the top real estate tycoons of Dubai. He has been chosen as chairman by Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum, the government said in a statement.
Abdulla, who has over 25 years of experience in the property market, will remain chairman of Meeras Holding, a big real estate developer which has played an important role in Dubai’s luxury real estate and tourism sectors. He is also the chairman of DXB Entertainments (the listed company behind Dubai Parks and Resorts).
Under Abdulla, Meeras established itself as an innovator by introducing businesses that enhance the sectors in which they operate. Those include Boxpark, City Walk, La Mer, Pearl Jumeira, Last Exit, The Beach, and Bluewaters, among others.
The new chairman spent 16 years of his career working for the Dubai Municipality and overseeing urban planning. He is also the chairman of Dubai Hills, a real estate business under the Meraas umbrella; and Valiant Healthcare, a chain of clinics launched by Meraas.
Abdulla holds a Master’s Degree in Cadastral and Land Information Management from the University of East London, UK.