Emaar appoints long-serving finance executive Pawan Chindalia as Group Head of Finance.
Dubai: Emaar Properties PJSC has announced a key change in its senior finance leadership, with Group Head of Finance Hesham Heikal leaving the company effective May 20, according to a filing on the Dubai Financial Market (DFM).
In its disclosure, Emaar said Pawan Chindalia, currently Head of Finance at Emaar Development PJSC, has been appointed as the new Group Head of Finance for Emaar Properties PJSC.
The appointment takes immediate effect, with Chindalia also continuing in his current role at Emaar Development “until further notice,” the company said in its filing. The filing did not specify how long he will hold both finance roles concurrently.
One of Dubai’s largest listed developers, Emaar Properties, is behind some of the UAE’s most iconic projects, including Burj Khalifa, Dubai Mall, and a wide portfolio of residential, hospitality, and retail developments.
Emaar did not provide further details in its filing regarding the reason for Hesham Heikal’s departure or whether any additional changes are expected within its finance leadership structure.
Who is Pawan Chindalia?
According to his LinkedIn profile, Pawan Chindalia has been with the Emaar Group for nearly 15 years, gaining experience across several of the developer’s core businesses, including Emaar Development, Emaar Malls, Emaar Entertainment, Burj Khalifa, and Community Management.
He has also previously worked with Damac Properties.
Chindalia brings over 20 years of finance leadership experience, with expertise in financial transformation, strategic growth, change management, and performance turnaround, according to his professional profile. He has also played a key role in building finance teams and structures across multiple business units, focusing on governance, operational efficiency, and long-term growth.
Shake-ups at Emaar
Emaar has recently undergone several significant changes.
Last week, Dubai Holding and the Investment Corporation of Dubai (ICD) announced the completion of a transaction in which Dubai Holding acquired a 22.27% equity stake in Emaar Properties from ICD.
Following the deal, Dubai Holding’s total shareholding in Emaar Properties rose to 29.73%, making it the company’s largest shareholder.
Separately, Emaar Properties recently announced plans to exit the joint venture structure for The Eighth Gate, its mixed-use development in Yafour, Damascus. The company said it will now proceed with the project independently, without a local partner.
The Eighth Gate was launched in 2005 as a $500 million master-planned community covering 300,000 square metres in Yafour, around 22 kilometres from central Damascus. The project includes residential, retail, hospitality, and commercial components.
Separately, Emaar Properties’ founder and Managing Director Mohamed Alabbar drew attention at the Make it in the Emirates Summit in Abu Dhabi after saying he prefers hiring Indians because of their strong work ethic.
He used the remark to underline a broader point about hard work, discipline, and the kind of business culture that helps companies navigate and withstand repeated economic challenges.
