Dubai-based developer Nakheel has restructured its senior management team. The reorganisation sees a number of senior executives leaving their positions, as business units are consolidated and projects scaled back.
The changes were announced internally on 25 January, with an email to all staff sent by Chris O'Donnell, chief executive officer of Nakheel.
A Nakheel spokesman confirms, “In keeping with our business objective of matching supply and demand in the most effective way, we have announced the merging of a number of Nakheel business units, which will better address the changing market conditions.
“This action will not affect ongoing work on our projects and has not led to redundancies.”
Marwan al-Qamzi will now be the managing director (MD) of Palm Jebel Ali and Dubai Waterfront. These two projects previously had their own MDs, with Al-Qamzi running Palm Jebel Ali and Matt Joyce heading the Dubai Waterfront project.
Adnan al-Naqi is now the MD for Nakheel Northern Coastal Projects, which includes the company's offshore projects in northern Dubai. They are the Palm Deira, Mina Rashid and The World.
Abdulrahman Kalantar will manage the newly merged Nakheel Asset Management and Design group, also incorporating the masterplanning role for The Universe, with Nick Green leaving as head of Nakheel Asset Management.
Hamza Mustafa will head Nakheel Leisure. He was previously managing The World project.
Nakheel Hotels will be part of Nakheel Leisure and its MD, Joe Sita, will report to Mustafa.
Johan Schumacher will become MD for Palm Jumeirah and Investment Projects, combining Palm Jumeirah, Tall Tower, Investment Projects and the Marine Division.
Saeed Harib will continue in his role as Director of Nakheel Marine Group, now reporting to Johan Schumacher.
Graham Dreverman remains MD for Nakheel Retail.
Robert Lee, former head of Nakheel Investments, now leads RetailCorp, which will be part of Nakheel Retail.
Both the Palm Jebel Ali and Dubai Waterfront had been scaled back in recent months.
At Palm Jebel Ali, work on the frond villas, as well as infrastructure for crescents A and E, will continue as planned, while other phases will be delayed.
At the Waterfront, work on Madinat al-Arab, Venetto, Badra and Canal District is carrying on as planned while other phases will be delayed.
Nakheel stopped working on parts of Palm Deira last year as it concentrated on areas closer to the shore.
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