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PHDC - Palm Hills Developments News Story

$5.1 0.0  0.0%

Last Trade - 04/04/18

Micro Cap
Market Cap £14.3m
Enterprise Value £216.1m
Revenue £238.6m
Position in Universe th / 1821

Palm Hills Develop - Director Declaration

Fri 6th September, 2019 12:22pm
RNS Number : 5380L
Palm Hills Developments S.A.E.
06 September 2019

Palm Hills Developments announce the appointment of Mohamed Fahmy as Chief Operating Officer


Cairo/London, September 4, 2019: Palm Hills Developments ("PHD" or "the Company"), the leading real estate developer in Egypt, announce the appointment of Mohamed Fahmy as Chief Operating Officer ("COO") and an executive member of the Board of Directors with immediate effect.


Fahmy will lead Operations and direct the Company's Finance functions. Fahmy had been serving as a non-executive Board member since his appointment in April 2019 and had previously served as the Company's Chief Financial Officer between 2007 and 2009, during which time he concluded the Company's Initial Public Offering on the EGX and LSE. With extensive management experience spanning near three decades, Fahmy brings valuable leadership to PHD's executive team with local and international proficiency in Banking, Finance, and Investments including 5 years of senior executive positions in real estate in Egypt. Most recently, Fahmy served as Chief Financial Officer and Executive Director of Investments for Kingdom Holding Company, which is majority owned by HRH Prince Al Waleed bin Talal.


Mohamed Fahmy commented: "I am honored to take on the role of COO at PHD, the Company where I started my career in the real estate industry, with excitement for the opportunities for growth and increased efficiency and accountability. PHD's strategy has never been more compelling and I am energized to align PHD's operations with its strategic vision".


Yasseen Mansour, PHD's Chairman & Group CEO commented: "Mohamed Fahmy is a trusted leader with a local and regional track record of delivering strong results. He is uniquely qualified to drive strategic prioritization to ensure operational excellence. I have full confidence in his ability to maintain and strengthen PHD's leading position in Egypt's real estate market, notably that we have worked closely together during the period between 2007 and 2009".


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