Shaibani to become head of Dubai island developer Nakheel
Top government official Mohammed al Shaibani will take over as chairman of the Dubai-based palm-shaped island developer Nakheel, replacing Ali Lootah.
Shaibani, who is also chief executive officer of Investment Corp of Dubai and director general of the city’s ruler’s court, will take over after Lootah resigned, Nakheel said in a statement.
Lootah, who steered the state-owned developer through a US$10.5bn debt restructuring, left the company after ten years in the role. He will join the board of Dubai World, according to the statement.