Emaar chairman steps down



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