The local Emaar Properties has announced that its CEO of real estate, Robert Booth, will be leaving the company after the end of the year.

“We would like to clarify that Robert Booth will continue to handle his responsibilities until the end of the year 2014,” said the Dubai real estate developer in a media statement on 22 December,:

The firm added that it would make a further announcement on its organisational structure at a later date.

Emaar has recently it will distribute a special cash dividend of AED9bn ($2.45bn) on 23 December.

Total dividends paid out in 2014 by the developer will reach AED17.12bn, which sets a new regional record for a public joint stock company.