Downfall of the World's Premier Real Estate Development Company

Emaar Misr Chief Axed | March 1, 2010

In the wake of numerous delays and cost overruns, Emaar recently removed Sameh Muhtadi as Chief Executive Officer of Emaar’s efforts at entering the real estate market in Egypt.

Sources within Emaar Misr have stated that Muhtadi’s departure was related to the lack of substantial progress on Emaar’s Uptown Cairo, Cairo Gate, Mivida, and Marassi Developments.  Emaar has been active on the site since 2006, however, the developer has yet to deliver a single home.  Sources have also stated that Emaar Misr had been subject to a selective and rigorous internal audit by Emaar due to the unexplained delays and massive cost overruns.

Muhtadi has been replaced by Mohamed El Dahan, Emaar’s Internal Audit Executive Director.

Advertisements

Posted in Uncategorized

Leave a Comment »

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

About author

The author does not say much about himself

Search

Navigation

Categories:

Links:

Archives:

Feeds

%d bloggers like this: