CEO Today Global Awards

71 www.ceotodaymagazine.com CEO Today Global Awards 2019 Egypt ENG. MOHAMED AHMED SULTAN CEO of PALM HILLS DEVELOPMENTS S.A.E FIRM PROFILE Palm Hills Developments is a leading real estate company in the Egyptian market, primarily developing integrated residential, commercial real estate and resort projects. Founded in 2005 by Mansour and Maghraby Investment and Development Company [MMID], the company which is listed on the Egyptian Stock Exchange and London Stock Exchange, traded under the symbols “PHDC.CA ” and “PHDC.LI ” respectively, was the result of a vision to create self-sufficient and well integrated communities. Presently Palm Hills Developments possesses one of the largest land banks in the country and is rapidly growing into a regional player, thanks to a geographically diversified land bank suitable for the development of a broad range of real estate products all fashioned to cater for customers’ need gaps and preferences. Currently, Palm Hills Developments has a portfolio of 26 projects spanning different development stages nationwide, and spreading over 27 million square meters [sqm] in Egypt, including 5 million sqm in which is held for sale in Saudi Arabia. The Company’s product offering includes primary homes on both West Cairo and East Cairo, as well as second homes by the Mediterranean Sea [North Coast]. The land bank includes 757,000 sqm of land earmarked for Commercial/Retail developments, with ambitions to have such properties contribute around 25% of the Company’s consolidated Net Income by 2020. Palm Hills Mission: To be the region’s most influential developer that delivers premium quality projects with highest return on investment for our shareholders and clients, providing the best work environment for our employeesThe company’s strategy is comprised of four pillars, namely Growth, Earnings Stabilization & Diversification, Improving Profitability and Expediting Projects’ Delivery. Through the “Growth” pillar, the Company is exploring new large land banks within its development regions being West Cairo, East Cairo and North Coast to further expand its current development portfolio either through direct land auctions sponsored by the Egyptian Government, acquisitions from the private sector or co-development opportunities with land lords, securing the Company’s future pipeline of residential and commercial offerings. To enhance the “Earnings Stabilization & Diversification”pillar, the Company has set-Up Palm Hills Investments (“PHI”) during 2015 with the purpose of deploying existing raw land that have been allocated as investment property and commercial real estate throughout completed developments and projects under development. Palm Hills has allocated c.757,000 sqm as a starting point for commercial projects. The Company is targeting developments in the following segments: neighborhood and community malls, office buildings, leisure facilities, health & education, and selective hotel properties. With regards to “Improving Profitability”pillar, having recently revisited its future development plans, Palm Hills is currently exiting untapped real estate investments and unutilized land plots that are no longer fit within the future development program, while at the same manner increasing land bank and enhancing cash flows in existing projects. ABOUT ENG. MOHAMED AHMED SULTAN Eng. Mohamed Sultan, Palm Hills Developments’ appointed CEO in 2011, when he orchestrated the corporate’s operation, leveling the playfield for its success story moving forward. Eng. Sultan joined Palm Hills back in 2007 as Vice President for Development – North Coast & Alexandria, cascading a vision of creating sustainable communities and well integrated resorts. Now in its seventh year of operation, North Coast Developments [Haciendabay and White] are a clear testament of his pivotal role in transcending vision to on-ground reality, as it has stolen the limelight by clearly standing-out as the North Coast’s trendiest getaway destination. Eng. Sultan embarked on his career at OBALCO, at theKingKhaledMilitaryCity in KSA, where he worked with the US Army Corp of Engineers. In 1986, he founded and presided over the Engineering Group for Urban Development. Eng. Sultan holds a bachelor degree in Architectural Engineering from Al Azhar University.