Management Change

Palm Hills Developments announce the resignation of Engineer Mohamed Sultan

Cairo/London, September 6, 2019: Palm Hills Developments ("PHD" or "the Company"), the leading real estate developer in Egypt, announce the resignation of Engineer Mohamed Sultan from his post as a member of the Board of Directors ("the Board") and Chief Executive Officer.

Eng. Mohamed Sultan commented: "I would like to announce that I am leaving PHD both as an executive and a member of the Board. I have spent 13 years with the Company and I feel privileged to have established and contributed to the leading real estate developer in Egypt".

Yasseen Mansour, PHD's Chairman & Group CEO commented: "PHD extends its sincere thanks and gratitude to Engineer Mohamed Sultan for his years of service. His distinguished contribution to the Company resulted in having some of the most successful projects in Egypt".

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