The holding company with assets of about $33 billion appointed Sheikha Dana Nasser Sabah Al Ahmad as its new chief executive, replacing Faisal Al Ayyar, who will step down after more than 30 years with the company.

Kuwait Projects, also known as Kipco, has a number of retail projects in its portfolio, primarily managed by its United Real Estate Co subsidiary, which owns the Abdali Mall in Amman, Jordan and the Salalah Gardens Mall in Salalah, Oman, and Marina Mall in Kuwait.

Sheikha Dana will take over as the firm’s new CEO on Jan. 1.

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Kuwait’s Alshaya Retains Regional Debenhams Rights

Kuwaiti retail giant, Alshaya Group, has struck a deal with Boohoo Group to retain its regional rights to the Debenhams brand, which Boohoo bought out in January.