Emaar Properties appoints new chief executive

Emaar Properties appoints new chief executive
Emaar Properties appoints new ceo.
Published: 5 March 2017 - 9:33 a.m.
By: Jumana Abdel-Razzaq

Emaar Properties has appointed a new chief executive officer, according to reports on Sunday.

“John Carfi has joined Emaar Properties as ‎CEO of Development,” a company spokesperson told Construction Week via email. Emaar did not provide further details.

Carfi joined Emaar from Australian firm Mirvac Group in March, where he was head of residential since 2014, according to Bloomberg data.

He initially joined Mirvac in 2001 and helped advance the group’s famed apartments business and grow its master-planned communities unit in Australia.

With sights set to expand this year, Emaar Properties recorded $1.4bn (AED5.2bn) in net profit for 2016, 28% higher than 2015's $1.1bn (AED4.08bn).

The company's revenues in 2016 amounted to $4.2bn (AED15.5bn), a 14% year-on-year (YoY) hike over 2015's revenues of $3.7bn (AED13.6bn).

 

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