Cairo, Egypt, June 27, 2007: Emaar Properties PJSC has appointed Mr Sameh Muhtadi as Chief Executive Officer of Emaar Misr for Development S.A.E, the wholly owned subsidiary of the Dubai-based property developer. Mr Muhtadi will focus on implementing Emaar Misr’s four projects in Egypt and also identify new growth areas.
“Egypt has enormous growth potential and is one of our strategic markets. Having consolidated our presence in the country and restructured the company structure, we are now going full-steam ahead to implement our projects that have gained the confidence of the Egyptian investors,” said Mr Mohamed Ali Alabbar, Chairman, Emaar Properties. “Mr Muhtadi has proven global experience and expertise in delivering mega-projects - knowledge that is essential to achieving the international standards we have set for our development portfolio in Egypt.”
Muhtadi has over 24 years of experience in construction management with specialized expertise in engineering, procurements, contracts and construction. His work experience covers on-schedule delivery of mega projects in the US, Europe, the Middle East and Near East. He has established successful presence for the organisations he worked for in Russia, Bahrain, Afghanistan, Iraq and Egypt.
“Emaar’s diverse portfolio of mixed-use projects in Egypt complement the government’s developmental strategies for the country,” said Mr Muhtadi. “The projects will integrate the global best practices in engineering, architectural and construction to ensure that they bring about a new lifestyle to Egypt, while also strengthening the economy by offering job opportunities.”
Muhtadi was previously Chief Executive Officer of Orascom Construction Industries in India and earlier served as Executive Vice President, Contrack-Orascom, headquartered in Arlington, Virginia. He worked for the company from Cairo for 16 years executing more than 37 projects. He has also worked as Senior Contract Administrator with Parsons Management in Washington DC.
Muhtadi started his career with the AEGIS Group of Companies as Project Manager for university and housing projects in Saudi Arabia. He then worked on housing projects in Cuba and Germany for AEGIS-Zublin.
A graduate in Civil Engineering from Enfield College of Technology, UK, Sameh holds a Masters degree in Construction Management from the George Washington University, USA. He is a member of the American Society of Civil Engineers.
Emaar is the single largest foreign direct investor in Egypt’s real estate sector and is developing the EGP9.92 billion (AED 6.39 billion, US$1.74 billion) Marassi, a 1,544-acre tourist resort; and the EGP12 billion (AED 7.7 billion, US$2.1 billion) Uptown Cairo mixed-use development. Emaar Misr recently announced two new projects: the EGP 5.75 billion (AED 3.7 billion; US$1 billion) residential community located at the fifth district New Cairo City and the EGP4 billion (AED 2.58 billion; US$700 million) residential-cum-commercial project located at the start of the Cairo-Alexandria road.
