We have advised Myles Bush, the outgoing CEO of PH Real Estate, on the sale of his 50 percent stake in the company for a large "seven-figure" sum.
Bush, who has announced his retirement, set up PH Real Estate in 2008 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 Dubai’s most expensive villa sale in 2017, the most expensive land sale in 2018, and the most expensive rental property in 2019.
The two new partners are real estate expert and entrepreneur Mamad Kashani-Akhavan, and Vahid Mazaherioun, an industry veteran with around 20 years of experience in Dubai’s real estate sector.
Commenting on the deal, Corporate/M&A and Capital Markets Partner Adnan Chida, said: "The real estate market in Dubai is vibrant and PH stands out as a growing business built on admirable values and a strong vision of what it needs to do to keep growing. Myles was instrumental in building that success."
Nick Grassick, Managing Director of PH Real Estate, said: "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. The Taylor Wessing team was instrumental in making this deal a success."
The team in Dubai was led by Corporate/M&A and Capital Markets Partner Adnan Chida and Real Estate & Infrastructure Partner Jerry Parks, with the support of Corporate/M&A and Capital Markets Associate Ian Nash.
In a recent conversation, Myles Bush stated, "Ian was excellent, and I will continue to pass clients his way."
