Clarification in relation to DXB Entertainments Announcement
Clarification in relation to DXB Entertainments AnnouncementMay 31, 2017
- New company established by Dubai Holding and Meraas Holding to manage projects by both firms as well as third parties
- New company will be led by Raed Kajoor Al Nuaimi who left DXB Entertainments
- Mohamed Almulla leaves Arab Media Group and joins DXB Entertainments as new CEO
Dubai, UAE, 31 May 2017: Reference is made to the announcement of DXB Entertainments dated 29 May 2017, Dubai Holding, the global investment holding company, wishes to clarify the information reported on the new company created.
Dubai Holding and Meraas Holding have set up a new project management company that will manage multi-billion dollar projects by both firms as well as other third parties. This new company will utilise the expertise currently available at both firms to manage the execution and delivery of some of Dubai’s landmark projects.
The new company will be led by Raed Kajoor Al Nuaimi, who has left DXB Entertainments.
His Excellency Abdulla Al Habbai, Chairman of Dubai Holding and Meraas Holding said: “There is an extensive experience and proven track record when it comes to project management at both Dubai Holding and Meraas Holding. The new company will allow us to utilise the strengths and expertise of both firms under a new umbrella. As a commercial entity, the new company will be able to offer its unique expertise and extend its services to third parties.”
Dubai Holding also announced today the departure of Mohamed Almulla from Arab Media Group (AMG), the entertainment arm of the Group. Al Mulla will take on a new role as Chief Executive Officer of DXB Entertainments, effective immediately. AMG comprises of three major business units; Arabian Radio Network (ARN), Done Events and Global Village.
His Excellency Al Habbai, commented: “Mohamed Almulla has been instrumental in growing AMG and Dubai Holding’s contribution to the media and entertainment sector. Under his leadership, Global Village has grown to become a major entertainment destination, attracting more than five million visitors each year. He also oversaw ARN’s strategy, growing to become the largest radio network in the UAE.
We are confident that his new role will result in further growth of Dubai’s position as a global entertainment destination in the region. We wish him the best of luck.”
A replacement for Almulla will be announced in due course.