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PH Real Estate buys strategic stake from company co-founder
DUBAI, 21 days ago PH Real Estate, one of Dubai’s oldest real estate brokers, has announced that it has purchased 50% shares owned by its co-founder Myles Bush in the company for a seven-figure amount . Bush, who has announced his retirement, had set up the company in 2008, aalong with Nick Grassick, who joined PH Real Estate seven years ago and remains its managing director. A reputed company in Dubai, PH Real Estate has achieved several milestones over the last 12 years including the Dubai’s most expensive villa sale in 2017; the most expensive land sale in 2018 and the most expensive rental property in 2019.
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Dubai: PH Real Estate on Sunday said Myles Bush, the broker’s CEO and co-founder, will step down from his role.
PH Real Estate also made a large “seven-figure” purchase of Bush’s 50 per cent stake in the company.
One of the two new partners is real estate expert and entrepreneur Mamad Kashani-Akhavan. The other one is Vahid Mazaherioun, an industry veteran with around 20 years of experience in Dubai’s real estate sector.
Established in 2008, PH Real Estate was responsible for Dubai’s most expensive villa sale in 2017 and the most expensive land sale in 2018.
“As we move into an exciting new era for PH Real Estate, I’m delighted that our new partners share the values that Myles and I began the company with – trust, integrity and transparency,” said Nick Grassick, Managing Director.
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