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Africa Logistics Properties (ALP) Thursday introduced Raghav Gandhi as the brand new Chief Government Officer following the departure of Richard Hough.
Hough, determined to depart the corporate, the most important developer of contemporary industrial warehousing in East Africa, after 6 years. He joined the corporate in Could 2017 as Chief Working Officer and went on to exchange the co-founder/CEO Toby Selman in 2019.
“He oversaw the event of East Africa’s largest single industrial park at Tatu Metropolis in northern Nairobi and the partial improvement of the corporate’s second flagship park at Tilisi in western Nairobi, successful quite a few awards for industrial improvement and ALP’s best-in-class environmental credentials, together with IFC World EDGE Champion,” mentioned the corporate in an announcement
In his message, Hough indicated that; it has been an unlimited privilege to spend six years at ALP “working with an excellent staff of each colleagues and traders.”
“Collectively now we have introduced high-quality, sustainable industrial buildings to Kenya for the primary time. I want ALP the easiest for the long run, and look ahead to seeing their additional progress,” he mentioned
Charlie Tryon, Chairman of ALP, and who additionally just lately took the mantle from Nicholas Ferguson O.B.E, mentioned your complete board of the corporate was grateful to Richard Hough over what he described as ‘his diligence and dedication.’
“He has seen the corporate via some difficult instances and did so successful a variety of business awards highlighting the excellence of ALP in establishing new worldwide requirements within the logistics sector in East Africa. We want him effectively in his future endeavors,” mentioned Tyron
“We’re delighted to welcome Raghav as the brand new CEO of ALP and I look ahead to working carefully with him as he seeks to set out a brand new strategic path for ALP,” added the Chairman
Along with his exit, ALP’s board welcomed Raghav Gandhi, the previous Managing Director of Acorn Funding Administration Restricted, an area Kenyan-focused pupil housing actual property developer, to steer the corporate and is ready to affix the corporate within the first quarter of 2024.
Raghav Gandhi is an actual property skilled specializing in Rising Markets. He has a commendable observe document throughout the worth chain in South Asia, the Center East, and North Africa. He moved to Kenya in early 2020 to determine after which subsequently handle two pupil lodging REITs main a capital increase of over US $50 million in fairness from worldwide and native traders, and greater than $60 million in debt financing.
He described the brand new project at ALP as an thrilling function that he was delighted to be taking,”
“Industrial actual property is a premium asset class within the developed markets however nonetheless very a lot in its infancy right here in Africa. Whereas this will likely level to challenges, it additionally highlights important alternatives. I imagine that the strong basis constructed by the earlier administration staff gives a perfect springboard to reinforce worth for shareholders and I look ahead to working with the staff in delivering on this potential.” mentioned the incoming CEO
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