Emaar Properties brings in Mirvac's John Carfi to lead development unit

Dubai’s largest listed property company, Emaar Properties, has appointed the former head of residential at Australian developer Mirvac as its new chief executive for development. In a statement on Sunday, Emaar confirmed John Carfi’s appointment.

Mr Carfi joined Mirvac in 2001 and was responsible for developing the group’s apartments business and growing its master-planned communities arm.

In November 2016 Mirvac announced to the Australian bourse that Mr Carfi was leaving the company after 15 years “to jointly head Emaar Properties as group CEO – development with the global group”.

Emaar declined to comment further on the appointment ahead of an anticipated board of directors meeting today.

According to Emaar’s website, the developer employs at least 12 chief executives in the various arms of its business. These include: Amit Jain, the group chief operating officer and chief executive of Dubai operations; Maitha Al Dossari, the chief executive of Emaar Entertainment; Nasser Rafi, of Emaar Malls; Mohamed El Dahan, Emaar Regional; Jeremy Lester, Emaar’s international business; and Olivier Harnisch of Emaar Hospitality Group.

A number of the group’s top brass has departed in recent years as rivals headhunt the company’s senior executives.

In 2014, Abu Dhabi-based developer Eagle Hills, which is led by Mohamed Alabbar, Emaar’s chairman, hired several former Emaar managers including Low Ping, Emaar’s former group chief executive, and Salman Sajid, previously chief financial officer of several Emaar units.

That year Fred Durie, the previous head of Emaar International, also left to head the Dubai private real estate firm Nshama.

lbarnard@thenational.ae

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