DUBAI: Aldar Properties’ chief financial officer, who played a key role during the company’s $5.2 billion bailout by the Abu Dhabi government, has resigned, the developer said.

Shafqat Malik left to pursue other opportunities, ending his five-year tenure, Aldar said in a statement to the Abu Dhabi bourse.

The developer, which is 30-percent owned by the Abu Dhabi government, is expected to report its third-quarter results later this month. Malik will remain with the company until Oct. 31.

In April, Aldar, builder of the Yas Marina Formula One circuit, replaced its chairman Ahmed Al Sayegh and appointed a new board.

Aldar was forced to sell some of its prized assets, including the Formula One theme park, to the Abu Dhabi government as part of a rescue plan to revive the company.

The company swung to a profit of 127.3 million dirhams in the second quarter and raised an additional 1.4 billion dirhams in loan from banks.

Aldar shares closed up 0.9 percent on Thursday. The statement came after markets closed.