Dubai Properties Group, which is owned by the ruler of Dubai's holding company, has replaced several of its top executives.

The chief financial officer left the company on Sunday as a statement was released to say Dubai Properties was making the changes to improve corporate governance and operations.

Marketing, legal affairs, operations and property development will also see some face changes during the uncertainty period where the debts of the firm are being questioned.

Flagship conglomerate Dubai World, faced with a $26 billion debt pile, shocked global markets on November 25th after it indicated a need to restructure.

Dubai Properties was told it needed to make changes in its corporate government framework to ensure efficiency.