Dubai Holding announces corporate restructuring
Government-owned conglomerate Dubai Holding announced on Sunday it will restructure its operations to suit...
August 16, 2009 3:21 by Dana El Baltaji
Government-owned conglomerate Dubai Holding announced on Sunday it will restructure its operations to suit the current world economic climate. The company will reorganize its businesses into four categories – property, business parks, hospitality and investments verticals – according to a company statement.
Ahmad Bin Byat, CEO, Dubai Holding said: “The realities of the global economic climate have made it necessary for us to look at our portfolio in a different way. In order to remain competitive in the marketplace, and be sure that we are poised for success once the markets open up, we’ve undertaken a number of changes that will reinforce and strengthen our business.”
“In this changing environment we have adapted and therefore our portfolio stands strong and is ready to take advantage of new opportunities,” Bin Byat added.