Nakheel announced a change in its board of directors after the resignation of its Chairman, Mr. Ali Rashid Ahmed Lootah, after his recent appointment to the Board of Directors of Dubai World, at the invitation of His Highness Sheikh Ahmed bin Saeed Al Maktoum.

The new Council is chaired by a total of seven members, Muhammad Ibrahim al-Shaibani.

Nakheel added that the changes in the board of directors include the addition of four new members, who are Muhammad Ibrahim Al-Shaibani, Sultan bin Sulayem, Mr. Khalifa Hassan Al-Dabbous and Mr. Issam Al-Din Galadari, while Khalid bin Bakhit Al-Falasi, Ibrahim Hussein Al-Fardan and Adel Khalifa Al-Shaer remain On their membership in the Board of Directors.

Muhammad Ibrahim Al-Shaibani said: “Nakheel, under the leadership of Ali Lootah over the years, and thanks to his continuous efforts of dedication and continuous work, have managed to stabilize the company’s path and return to profitability. On behalf of the new Board of Directors, I would like to express thanks and gratitude to Brother Ali, and we wish him well in his new role