Dubai World announced today that as part of an ongoing organisational operational restructuring process within the group, selected hotel and real estate assets and the management teams related to these assets, primarily in international markets, have been transferred to Istithmar World.
Hamza Mustafa will join Istithmar World from Nakheel as Managing Director, Real Estate, with responsibility for the hotels and commercial buildings transferred to Istithmar World.
Also as part of the organisational restructuring process, Dubai World appointed the following executives formerly of Nakheel to Istithmar World:
Andy Watson, Chief Investment Officer
Binod Narasimhan, Chief Financial Officer
Sandesh Pandhare, Managing Director, Private Equity
All executives will report to David Jackson, Chief Executive Officer, Istithmar World.
Meanwhile, Joe Sita, CEO, Nakheel Hotels, has left the company to pursue other opportunities. The company wishes him well in his new endeavours
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