Dubai World’s investment arm, Istithmar World has named the head of its real estate operationsas the firm’s new chief executive officer.
Hamza Mustafa, who previously held senior positions at real estate developer Nakheel International, joined Istithmar in 2009. The appointment comes less than a month after the company announced a new board of directors headed by Sultan Ahmed Bin Sulayem as chairman.
“Mustafa has made notable contributions to achieving the company’s core objectives by leading several high profile restructurings and dispositions of key assets,” said Bin Sulayem.
The company’s investment portfolio includes hotels and commercial property sectors, as well as consumer, industrial and financial services. Istithmar is currently the sole owner of the Atlantis resort in Dubai, and have stakes in the Mandarin Oriental New York hotel, US retailer Barneys New York, and entertainment group Cirque du Soleil.