Emaar Appoints New Group Head of Finance After Executive Exit

DUBAI, UAE - Emaar Properties PJSC has announced a change in its senior finance leadership following the departure of Group Head of Finance Hesham Heikal, according to a disclosure filed with the Dubai Financial Market (DFM).

The Dubai-based developer confirmed that Pawan Chindalia, currently serving as Head of Finance at Emaar Development PJSC, has been appointed as the new Group Head of Finance for Emaar Properties PJSC with immediate effect.

According to the filing, Chindalia will continue to hold his existing position at Emaar Development “until further notice,” although the company did not specify how long the dual-role structure would remain in place.

Emaar also did not disclose additional details regarding the departure of Heikal or whether further leadership changes are expected within the group’s finance structure.

The leadership transition comes during a period of significant activity and strategic developments for one of the UAE’s largest listed developers.

Emaar Properties remains one of the region’s most prominent real estate companies, with a portfolio that includes landmark developments such as Burj Khalifa, Dubai Mall, and a wide range of residential, hospitality, retail, and mixed-use projects across the UAE and international markets.

According to his LinkedIn profile, Chindalia has been part of the Emaar group for nearly 15 years, building experience across multiple divisions including Emaar Development, Emaar Malls, Emaar Entertainment, Burj Khalifa operations, and Community Management.

Prior to joining Emaar, he also held positions at DAMAC Properties.

His professional profile highlights more than two decades of finance and operational leadership experience spanning financial transformation, governance, strategic growth, organisational restructuring, performance turnaround, and operational efficiency.

The appointment follows several major corporate developments involving Emaar in recent weeks.

Earlier this month, Dubai Holding and the Investment Corporation of Dubai (ICD) announced the completion of a transaction under which Dubai Holding acquired a 22.27% equity stake in Emaar Properties from ICD.

Following completion of the transaction, Dubai Holding’s total ownership in Emaar increased to 29.73%, positioning it as the company’s largest shareholder.

Emaar has also recently announced plans to independently operate The Eighth Gate project in Damascus following its decision to exit the project’s joint venture structure.

The Eighth Gate, originally launched in 2005 as a $500 million mixed-use master-planned development in Yafour near Damascus, spans approximately 300,000 square metres and includes residential, hospitality, retail, and commercial components.

The company has continued to remain in focus across both financial and public discussions, with founder and Managing Director Mohamed Alabbar recently drawing attention during the Make it in the Emirates Summit in Abu Dhabi following remarks regarding hiring preferences and workplace culture.

The latest finance leadership appointment comes as Emaar continues to navigate a period of strategic expansion, shareholder restructuring, and operational repositioning across several parts of its portfolio.