Updated:2025-10-29 08:20 Views:143
Damac, one of the largest real estate companies in the Middle East and North Africa region, has appointed Hamdallah Al Qasimi as its new CEO. He will take over from Ahmed Al Mulla, who is retiring after serving as the company's CEO for nearly two decades.
Al Qasimi's appointment marks a significant shift in leadership at Damac, which was founded by brothers Sami and Mohamed Al Mulla. The brothers have built Damac into one of the most successful real estate companies in the region, with a portfolio that includes some of the world's most iconic landmarks such as Burj Khalifa and the Burj Dubai.
Under Al Mulla's leadership, Damac grew rapidly, becoming one of the largest real estate developers in the region. However, the company faced several challenges during his tenure, including financial difficulties and regulatory scrutiny.
In response to these challenges,Serie A Stadium Al Mulla made several changes to the company's management structure, including appointing a new CEO. He also implemented a number of cost-cutting measures, which helped to improve the company's profitability.
However, despite these efforts, the company struggled to keep up with the rapid growth of competitors in the region. In 2017, the company announced plans to split into two separate entities, one focused on residential development and the other on commercial properties.
Al Qasimi's appointment as CEO signals a new chapter for Damac. With his experience in leadership and strategic planning, he is well-positioned to lead the company through its next phase of growth and success. As a leader with a strong track record of driving transformation and innovation, Al Qasimi is expected to bring fresh ideas and strategies to the company, helping it to continue to be a leading player in the real estate industry.