Monday, March 6, 2017

Emaar picks Australian property expert as new CEO

Dubai-based global developer Emaar Properties said it has appointed John Carfi, the former head of residential at Australian developer Mirvac, as its new chief executive officer.

Carfi joined Mirvac in 2001 and was responsible for developing the group’s apartments business and growing its master-planned communities arm, according to The National.

In November last year, Mirvac had announced the departure of Carfi in a declaration to the Australian bourse stating that "he was set to jointly head Emaar Properties as group CEO – development with the global group."

The move comes shortly after Emaar unveiled a shift towards more urban regeneration projects in Sydney and Melbourne to capitalise on new infrastructure in the cities, reported The Australian.

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

He is leaving at a time the group is well-positioned, with Mirvac holding a record $3 billion of presales and almost 90 per cent of its expected residential earnings secured for this financial year,  stated the report.

Emaar declined to comment further on the appointment ahead of an anticipated board of directors meeting today (March 6).

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