Nakheel has confirmed the appointment of Sanjay Manchanda as the new CEO of the company, it was announced on Wednesday.
The move to appoint a new head for the company comes as the real estate developer enters a new phase of its development, with a renewed focus on the delivery of new and existing community projects across Dubai.
Manchanda was previously a partner with PriceWaterhouseCoopers and has been acting CEO of Nakheel since June 2011. He was seconded to the troubled real estate developer in October 2010 as chief financial officer, playing a leading role in the wake of the global economic downturn.
Earlier this year, Nakheel repaid $57m to lenders as part of its five year debt restructuring plan.
In July 2011, the builder of Dubai’s man-made Palm islands, secured the approval of all its bank creditors to restructure its $10.5bn debt.
The company was bought under direct government control as part of the restructuring of its parent company, Dubai World.