(MENAFN- Alrroya) Peter Riddoch is the new Chief Executive Officer of Egypt's luxury Red Sea resort of Port Ghalib.
Riddoch, who was previously the CEO of Dubai based international real estate company, DAMAC Properties, will be based at the resort and has already taken over the reins.
Announcing the new appointment, Eng Ibrahim Saleh, Vice President of Al-Kharafi Group - which owns the luxury resort - said, "Port Ghalib is fast establishing itself as the most prestigious of the Red Sea resorts, attracting an ever growing number of visitors from Europe and the MENA region. As the resort sees visitor numbers increasing rapidly, and growing interest from the international travel, real estate, retail and leisure industry, we needed a world class, highly experienced CEO to manage this growth effectively."
Saleh added that Peter was one of the most respected and widely known real estate executives both in the region and internationally and that he fits the new role perfectly.
As the chief of Damac Properties, Riddoch was instrumental in the development of the business to its current position as the largest independent real estate developers in the Gulf region with assets valued at over $45 billion. He has 35 years of industry experience around the world, having started his international career with South Africa's LTA Limited, becoming Chairman of Companies in the Building and Property Development Division.
Commenting on his new job, Riddoch said: "Port Ghalib is a great product: it's a fantastic destination - an integrated community with world class, five star hotels, traditional and international retail outlets, a range of high end real estate opportunities, and the best equipped and modern marina in the Red Sea.
"It's one of Egypt's best kept secrets, appealing to young and old alike. It represents an exciting opportunity for me, and it's an honour to be given the role of putting Port Ghalib firmly on the map of worldwide luxury resorts.
By Joyce Njeri
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