Mubasher: First Dubai for Real Estate Development on Sunday announced that Mezzan Combined For General Trading W.L.L, which owns a 28.21% stake and two board member seats in the company, has recommended that Abdulaziz Basem Al Loughani should continue in his position as board chairman.

Salwa Nabil Abdel Hamid Malhas was also elected to remain as deputy chairman, the company said in a bourse filing, noting that two other members, namely Khalid Mahmoud Abdellatif Ali and Jassim Mohamed Soliman Al Ghanem were elected as board members.

The real estate firm last recorded a 266.2% profit surge to KWD 5.64 million in 2017 from KWD 1.54 million in 2016.