Emaar Development IPO-EMAA.DU, set to launch Dubais first initial public listing (IPO) in nearly three years on Thursday, has appointed Chris O’Donnell as its chief executive officer (CEO), it announced on its website.
The appointment of the former Nakheel chief comes as Emaar Properties prepares to sell 20% of its Emaar Development unit. O’Donnell left Nakheel in 2011 after five years in charge and later took over as head of Dubais Al Futtaim Real Estate Group.
Emaar, whose interests span hotels, entertainment and shopping mall operations, previously spun off its malls business. Emaar Malls was floated in 2014, valuing the business at AED37.7bn. The developer plans to sell 800 million shares of Emaar Development, starting on Thursday.
The company has also appointed Sunil Grover, who previously worked at Emaar Properties, as its chief financial officer and John Carfi, previously of Australian developer Mirvac, as chief executive of development and projects.