DUBAI: Dubai Holding will merge the back-office operations of three of its real estate entities, Dubai Properties Group, Sama Dubai and Mizin (a member of Tatweer) under one consolidated operation. The ownership and core activities of the three companies will lead to closer working relationships by realizing efficiencies through the consolidation of their back-office operations.
“This will not impact the legal relationship that the companies have with their current partners including their suppliers, contractors and their investors,” the company said in a statement yesterday. Meanwhile, Soud Ba’alawy, executive chairman of Dubai Group, and Sameer Al-Ansari, executive chairman of Dubai International Capital, will take on the roles of chairmen of Dubai Holding Investment Group.
The Investment Group is an existing wholly owned subsidiary of Dubai Holding that holds Dubai Holding’s stake in Dubai International Capital and Dubai Group. In addition to his current role as CEO of Dubai Group, Tom Volpe will become the CEO of Dubai Holding Investment Group and acting CEO of Dubai International Capital.
