Dar Al Arkan appoints former Damac MD as new CEO
Saudi Arabia-headquartered developer, Dar Al Arkan Real Estate Development, has appointed Ziad El Chaar, former managing director of Damac Properties, as its new CEO
Saudi Arabia-headquartered developer, Dar Al Arkan Real Estate Development, has appointed Ziad El Chaar as its new chief executive officer.
The appointment of El Chaar, who was previously the managing director of Damac Properties, took effect on 1 June, Zawya reported, quoting a bourse statement.
First joining Damac in 2005 as vice president of international sales, El Chaar took on the position of managing director in 2011.
His resignation from the Dubai-based property developer was first announced last month. In a statement sent to Arabian Business, Damac had confirmed El Chaar’s departure, saying: “Damac confirms that Ziad El Chaar has left the company. After a 12-year tenure, where he spearheaded many initiatives that directly contributed to the company’s success, both regionally and internationally, El Chaar has decided to explore new career opportunities. We wish him success in all his future endeavours.”
According to Zawya, in his new post, El Chaar replaces Abdulrehman Hamad Al-Harkan, who also resigned last month.