Dubai Properties Group, owned by the Ruler of Dubai’s holding company, has replaced several executives, including its chief financial officer.

The action comes after the cancellation this month of a planned merger with Emaar Properties, the UAE’s largest developer, which Emaar deemed was no longer commercially viable.

Dubai Properties is one of the largest owners of development land in the country, with projects that include the Jumeirah Beach Residence development of high-rise towers, and the vast Dubailand leisure project that was intended to combine theme parks with luxury housing developments.

The management reshuffle represents the latest step in the group’s consolidation process after Tatweer, Sama Dubai and Dubai Properties, all subsidiaries of Dubai Holding, were merged in August.

The National