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Egypt’s PHD names new co-CEO

: Tuesday, June 10 - 2014 @ 01:12

Egypt’s second-biggest property developer, Palm Hills Developments (PHD) has said the firm’s chief investment officer, Tarek Abdel Rahman, has been promoted to the position of co-chief executive officer with immediate effect, Reuters has reported. The move follows US private equity firm Ripplewood’s acquisition of a 2.3% stake in PHD last month, highlighting international appetite for Egyptian real estate. Abdel Rahman will join PHD’s CEO Mohamed Ahmed Sultan, who has been in his position since 2011.

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Tuesday, June 10- 2014 @ 1:12 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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