Emaar Properties PJSC, a prominent developer in Dubai, appointed Pawan Chindalia as its new Group Chief Financial Officer, following the departure of Hesham Heikal effective 20 May.
This transition is significant for Emaar, known for Dubai’s iconic projects such as the Burj Khalifa and Dubai Mall, following a series of restructuring changes.
Emaar confirmed Chindalia’s new role effective immediately, citing a regulatory filing with the DFM.
Chindalia will retain his current position as Head of Finance at Emaar Development PJSC until further notice. The firm has not disclosed the reasons for Heikal’s exit or any anticipated changes within its finance leadership team.
Earlier in May, Dubai Holding acquired a 22.27% equity stake in Emaar Properties from the Investment Corporation of Dubai, increasing its total shareholding to 29.73%.
Dubai Holding, owned by HH Sheikh Mohammed bin Rashid Al-Maktoum, is now the majority shareholder of Emaar.
Emaar has also announced a series of investments in Syria, following the removal of U.S. and EU sanctions in 2025, with Founder – Mohamed Alabbar – visiting the Syrian capital Damascus and coastal areas last week.
Emaar announced $18B worth of investment in Syria over the next six months. Emaar also aims to independently manage The Eighth Gate project in Damascus: a significant mixed-use development initially launched in 2005.
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