CAIRO: Emaar Egypt, fully owned subsidiary of the Dubai-based property developer, appointed Sameh Muhtadi as chief executive officer to undertake implementation of the group’s four projects in Egypt, as well as map out new areas for construction and growth, Emaar announced at a press conference Wednesday.
“Muhtadi has proven global experience and expertise in delivering mega-projects – knowledge that is essential to achieve international standards we have set for our development portfolio in Egypt, said Mohamed Ali Alabbar, chairman of Emaar Properties.
With over 24 years of experience in construction management and special expertise in engineering, Muhtadi aims to execute a vigorous vision of Emaar’s development projects in Egypt on a par with the group’s renowned practices.
“Emaar’s diverse portfolio of mixed-use projects in Egypt complement the government’s development strategies for the country, said Muhtadi. “These projects will integrate global best practices in engineering, architecture and construction to ensure they bring about a new lifestyle to Egypt, while also strengthening the economy by offering job opportunities.
Emaar is the single largest foreign direct investor in Egypt’s real estate sector, pouring in investments amounting to around $5.54 billion in four mega-projects. These are namely Uptown Cairo in Mokattam, Marassi Resort on the North Coast, a residential community project in New Cairo City, and a residential-commercial project located on the Cairo-Alexandria Desert Road.
“Egypt has enormous growth potential and is one of our strategic markets. Having consolidated our presence in the country and restructured the company, we are now going full-steam ahead to implement our projects that have gained the confidence of the Egyptian investors, Alabbar stated.
Before joining Emaar Egypt, Muhtadi served as CEO of Orascom Construction Industries in India and earlier served as executive vice president of Contrack-Orascom, executing more than 37 projects. He also previously worked as a senior contract administrator with Parsons Management in Washington DC.
Holder of a Masters degree in Construction Management from George Washington University and member of the American Society of Civil Engineers, Muhtadi has developed successful projects in different countries besides Egypt including Saudi Arabia, Bahrain, Afghanistan, Iraq, Cuba, Germany, and Russia.
