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Former Damac MD joins Saudi developer

Former Damac Properties managing director Ziad El Chaar has been appointed as chief executive of the Riyadh-listed Dar Al Arkan Real Estate Development Company.

The Saudi developer made the announcement in a statement to the Tadawul, the local stock exchange.

El Chaar started in the role on June 1, the statement said.

The executive “has worked on a wide variety of projects in the Middle East from residential complexes to commercial, hospitality and retail complexes along with multi-uses projects.”

It emerged in May that El Chaar had resigned from his position as managing director and executive board member of the Dubai-listed Damac Properties.

El Chaar is a veteran of the property development company, having first joined Damac in 2005 as vice-president of international sales. He then became international general manager in 2006, followed by general manager of operations in 2009.

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