O'Donnell to take reins at Al Futtaim Real Estate

Chris O'Donnell headed Nakheel for five years overseeing high-profile projects such as the Palm Jumeirah and The World. Philip Cheung / The National

Chris O'Donnell, the former Nakheel chief executive, has been appointed president of rival property developer Al Futtaim Real Estate Group (Afreg).

The Australian executive who headed Nakheel for five years overseeing high-profile projects such as the Palm Jumeirah and The World and culminating in the Dubai World crisis in 2009, will oversee the property division of the Dubai conglomerate.

Al Futtaim Real Estate confirmed yesterday that Mr O'Donnell, who in February successfully sued Nakheel for more than US$3 million (Dh11m) in end of service payments in one of the UAE's biggest ever pay rows, had been appointed earlier this month.

Afreg, the property development and operations arm of Al Futtaim Group, is responsible for coming up with, developing, leasing and operating the company's property schemes. The company's most high-profile scheme is the 5.2 million square metre mixed use Dubai Festival City in Dubai.

The developer is also currently developing a 3 million sq metre mixed use scheme in Cairo, Egypt known as Cairo Festival City.

Afreg was unavailable to comment on whether Mr O'Donnell's appointment signalled a new direction for the developer, which also manages a portfolio of about 900 apartments and villas throughout Dubai.

Mr O'Donnell hit the headlines in the UAE during the property boom when he led Nakheel to propose ambitious property developments including The Palm and The World.

Other projects the company proposed included plans for the Nakheel Tower, which it planned to become the world's tallest skyscraper.

However, as the bottom dropped out of the property market in 2008 and Nakheel found itself struggling with debt, the company was forced to put on hold or cancel many of its ambitious projects. In June last year it was announced that Mr O'Donnell had left Nakheel.

Later that month, the Australian executive filed a breach of contract lawsuit with the Dubai World Tribunal. In February this year he was awarded more than $3m when the court found in his favour.

Mr O'Donnell was previously managing director of the Investa Property Group, one of Australia's largest listed commercial property companies. His CV also includes executive positions with Westpac Investment Property, Lend Lease Property Investment Services and Capital Property Group.