Deyaar chief executive arrested in financial irregularities probe
The chief executive of Deyaar, Zack Shahin, has reportedly resigned from his position at one of the largest real estate companies in the GCC after having been arrested in a probe over alleged financial irregularities at the company. The reason for Shahinâ€™s resignation was not made public. Deyaarâ€™s shares closed down nearly 1 per cent after the reports of the investigation became known. Deyaar shares closed at $0.63 cents. Deyaarâ€™s shares fell by almost 5 per cent after the story broke, before making a comeback. Shahin was pivotal in Deyaarâ€™s nearly $900 million IPO in 2006.