Sulaiman al Fahim, the property tycoon seeking to buy Britain's Portsmouth Football Club, has been replaced as chief executive of Hydra Properties, a company official said yesterday.
Mr al Fahim will become a member of the company's board of directors, said Ahmed Khalil, Hydra's commercial director. Ali bin Sulayem of Hydra's parent company, Royal Group, will replace him as chief executive.
"Dr Fahim did an amazing job of getting Hydra Properties to where it is in a few years," he said. "Dr [al Fahim] has been promoted for all the good work he has done."
Hydra Properties has been under increasing pressure following the slowdown in the property sector. It has faced an increasing number of disputes with investors in Hydra Village, a residential development near Abu Dhabi International Airport, which is two years behind schedule. The company also has sold property in several towers to be built on Reem Island.
Mr al Fahim signed an agreement to buy Portsmouth, a Premier League club, last month and wants to complete the deal as soon as possible. The charismatic millionaire also appeared in his own reality television show called Hydra Executives.
bhope@thenational.ae
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Where to buy
Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com
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if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
No Shame
Lily Allen
(Parlophone)
The five pillars of Islam
Zayed Sustainability Prize