Emaar chairman steps down

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Dubai

Mohamed Alabbar has stood down as chairman of Emaar Properties, but will continue to oversee the day-to-day running of the Dubai developer as managing director, according to a bourse statement. “It was resolved that Mohamed Ali Alabbar, Chairman of the Board of Directors and Founder of Emaar, be devoted to the executive management matters and the day-to-day affairs of Emaar,” the company said.—Agencies