Nakheel has confirmed that it has appointed Sanjay Manchanda as the new chief executive officer (CEO) of the company.

The local property developer says his appointment comes as it “enters a new phase in its development with a renewed focus on the delivery of new and existing community projects across Dubai”.

Manchanda was previously a partner with PricewaterhouseCoopers. He was seconded to Nakheel in October 2010 as chief financial officer (CFO) and played a leading role in steering the company through its financial restructuring in the wake of the global economic downturn.

He became acting CEO in June 2011.

Nakheel has moved forward with several major projects this year, including work on the Palm Jumeirah and the Dragon Mart shopping complex.