By Mary Sophia 

Dubai developer Emaar Properties has reelected its chairman Mohammed Alabbar at the recent annual general meeting and gave the nod to reduce the number of board members from 11 to 10, the company said.

1The firm had been in the news lately due to rumours of its chairman Alabbar’s potential departure due to his commitments in other property ventures.

Emaar’s current board members include Mohamed Alabbar, Ahmad Al Matrooshi, Hussain Ahmad Dhaen Alqemzi, Ahmed Jamal Hassan Jawa, Abdul Rahman Hareb Rashed Al Hareb, Marwan Iqbal Mohammad Abdullah Abedin, Jamal Hamed Thani Butti AlMarri, Jamal Majed Bin Thaniyeh, Arif Obaid Saeed Aldehail and Abdulla Saeed Balyoahah.

The company also sought to assure its shareholders by forecasting a 2015 net profit of Dhs3.695 billion and approved cash dividend worth Dhs1.074 billion ($292 million) for its shareholders. More info