DUBAI (Reuters) – Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum has appointed the chairman of Emirates airline to temporarily oversee his investment vehicle as well as property firm Meraas, the Dubai media office tweeted on Thursday.
Sheikh Ahmed bin Saeed al-Maktoum, who is also the uncle of Sheikh Mohammed, will replace Abdulla al-Habbai in both jobs, the tweet said, without giving further details.
Dubai - Holding - Dirhams - Assets - Staff
Dubai Holding manages 130 billion dirhams ($35 billion) in assets, employing 20,000 staff across ten countries, according to its website. Dubai-based Meraas is also linked to the ruler and his family.
The appointment is part of a new expansion strategy at both companies, while also consolidating their brand profile, reported state news agency WAM.
Dubai - Holding - Operations - Meraas - Companies
Dubai Holding, whose operations will continue as normal, and Meraas will remain separate, independent companies, Dubai Holding said in a statement.
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