March 5, 2017 / 11:32 AM / 3 years ago

Emaar appoints new chief executive

DUBAI, March 5 (TRPN) - Dubai-based developer Emaar Properties PJSC said on Sunday that it has hired a new chief executive to head development.

“John Carfi has joined Emaar Properties as ‎CEO of Development,” a company spokesperson told Zawya Projects in an email.

Carfi joins Emaar from Australian property group Mirvac, where he was head of residential. Mirvac said in a statement to the Australian bourse on November 24 that Carfi was leaving the firm “to jointly head Emaar Properties PJSC as Group CEO - Development”.

Emaar did not provide further details. Its board of directors is expected to meet on March 6.

Carfi joined Mirvac in 2001 and worked there for 15 years, according to Mirvac’s statement.

The Dubai developer’s former group chief executive officer Abdulla Lahej departed his role in April last year.

Emaar Properties recorded a 56 percent increase in fourth-quarter net profit to 1.61 billion dirhams ($438.4 million) compared with a profit of 1.03 billion dirhams in the year-earlier period, the developer said in a statement last month.

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