Property

Dubai’s Emaar hires new CEO for development

John Carfi joins Emaar Properties as chief executive from Australian property group, Mirvac

Dubai’s Emaar Properties has hired a new chief executive to head development, it announced in a statement.

In an emailed statement, a company spokesperson told Zawya Projects that John Carfi has joined Emaar Properties as CEO of development. Carfi joins Emaar from Australian property group, Mirvac, where he was the head of residential.

On November 24, 2016, Mirvac said that Carfi was leaving the firm to “jointly head Emaar Properties as Group CEO – Development”. Emaar’s statement did not provide further details, but its board of directors is expected to meet on March 6, 2017.

As per Mirvac’s statement, Carfi has worked at Mirvac for 15 years, having joined them in 2001. The former group chief executive officer for Emaar, Abdulla Lahej, left his role in April 2016.

Lahej was appointed group CEO in January 2014. He was responsible for the overall management of Emaar’s group of companies and reported directly to chairman Mohamed Alabbar.

In a statement, released last month, the developer said that it had recorded a 56% increase in fourth quarter net profit to $438.4 million, compared to a profit of $280.45 million posted in the year-earlier period.

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