Damac’s Ziad El Chaar replaces Shaun Langdon on the Power 50 list, as he bids to guide the firm’s surge into the hospitality sector.
Just three years after the launch of the company’s hospitality arm, Damac Hotels & Resorts has five operational hotel apartment buildings, and 10,000 units confirmed in the pipeline, with many more under negotiation. At the helm of parent company Damac Properties is managing director El Chaar, who has been the driving force behind the hospitality division’s successful launch.
The firm’s aggressive expansion saw Damac Maison The Vogue, and the debut property of new brand Naia Hotels & Resorts, Naia Breeze, added to the collection at the end of March. These contributed 500 rooms to the existing portfolio, which comprised the December-launched Damac Maison Cour Jardin; Damac Maison Canal Views, which made its debut in October last year; and the original Damac Maison Dubai Mall Street, which opened its doors in December 2013.
Ziad El Chaar graduated with a degree in biology in 1990.