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UAE’s Mubadala property director resigns
Thomas will be succeeded by Peter Wilding.
August 20, 2010 2:33 by Reuters
Abu Dhabi government-owned investment company Mubadala Development said its property director, Canadian lawyer John Thomas, will resign at the end of August, the National newspaper reported.
Thomas will be succeeded in the interim as head of Mubadala Real Estate and Hospitality by Peter Wilding, the former chief executive of Capitala Mubadala’s joint venture with Singapore’s CapitaLand, the newspaper reported.
Thomas joined Mubadala in mid 2008 and oversaw the roll-out of projects such as the new central business district on Sowwah Island and the part redevelopment of Mina Zayed waterfront.
He will return to Canada to spend more time with his family and pursue other business interests, the paper reported.
In March, unlisted Mubadala reported 2009 assets of 88.5 billion dirhams and revenue of 13.1 billion.
It owns stakes in companies such as Abu Dhabi Aircraft Technologies, Dubai-based telecoms provider du and Aldar Properties. It also holds stakes in U.S. companies General Electric and Advanced Micro Devices.
(Writing by Erika Solomon; Editing by Andrew Macdonald)