Damac CEO resigns Peter Riddoch, the CEO of Damac Properties, is resigning from his position in October. No replacement for Riddoch has been appointed, nor did he name the reason for his resignation. In his last statement, Riddoch only said: “I know that the time is right to make some changes, focus a bit more on my personal interests and family, and possibly even take on new challenges.” Riddoch began has career at Damac in 2003. According to Arabian Business, Hussain Sajwani, chairman of Damac Properties, said he accepted Riddoch’s resignation unwillingly but wishes him success in his future. Arabtec in St. Petersburg Arabtec Construction LLC, a leading UAE-based construction company, was awarded the contract to build Europe’s tallest building in the Russian city of St. Petersburg. The project, known as Okhta Center, is owned by Gazprom Neft, a subsidiary of the state-owned natural gas giant Gazprom, and will be
