Dubai Properties chairman arrested

Hashim Al Dabal held on suspicion of embezzlement

Hashim Al Dabal is currently being interrogated on suspicion of embezzlement.
Hashim Al Dabal is currently being interrogated on suspicion of embezzlement.

The chairman of state-owned developer Dubai Properties has been arrested on suspicion of embezzlement, reported Bloomberg.

Dubai attorney general Essam Essa al Humaidan said Hashim Al Dabal was arrested ten days ago and is now being interrogated at a detention centre.

“We are questioning him almost daily and Mr. Al Dabal indicated he is ready to answer questions without having a lawyer present,” said Al Humaidan. “We’re still trying to determine the extent of Al Dabal’s misconduct. When the investigation is complete, all details will be announced.”

Dubai Properties is currently in talks with Eamaar over a proposed merger, along with state-controlled Sama Dubai LLC and Tatweer LLC. Authorities in Dubai have arrested officials at property companies since beginning an investigation into corruption last year. They include Deyaar Development PJSC’s former CEO, Zack Shahin, and Adel al-Shirawi, former chief of mortgage lender Tamweel PJSC.

The proposed merger with Emaar is aimed at controlling the supply of new buildings amid a glut of homes that drove property prices in Dubai 50 percent lower. The combined entity will have 13.4 billion dirhams of debt and 194 billion dirhams of assets, Emaar said on Oct. 22.

Dubai Properties built Jumeirah Beach Residence, a 1.7- kilometer (1.05-mile) waterfront development that includes 36 residential towers, four hotels and retail space.

Most popular


CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that


Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020