PH Real Estate, one of Dubai’s oldest and most well-respected real estate brokers, is once again creating industry ripples with news of a large seven-figure purchase of 50% shares of its of co-founder Myles Bush. Myles is proudly ‘retiring’ just before becoming a first-time father.
Established in 2008, the well-regarded company is the name behind many milestones – Dubai’s most expensive villa sale in 2017; the most expensive land sale in 2018 and the most expensive rental property in 2019. Managing Director Nick Grassick, who joined PH Real Estate seven years ago and remains as MD and partner says, “Myles and I have had a fantastic run and we shall certainly all miss him. 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.”
One of the two new partners is real estate expert and serial entrepreneur Mamad Kashani-Akhavan. Mamad says, “I have spent my entire career investing in highly successful ventures 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. I myself started my own real estate brokerage at just 18 and managed to sell a property in Knightsbridge, London for a record-breaking £1 million in 1984, so our values certainly align.”
The other new partner is Vahid Mazaherioun. Vahid was born in 1976 into a well-known entrepreneurial family in Iran. His father was one of the most successful importers of consumer products of his generation. Vahid graduated in 1993 from one of the top universities in Iran. He moved to Dubai 20 years ago and started a career in Dubai real estate. During his 20-year career, he has done many successful transactions.
“Between Nick, Vahid, and Mamad, the current partners possess more than 80 years of international real estate experience. The company that evolved from an initial team of three now has a strong team of 70 hard-working, dedicated members ready to serve their growing list of clients. The progressive real estate company occupies a prestigious 5,000 square ft office space in Marina Plaza, Dubai Marina, and is always on the lookout for new recruits to join its strong award-winning team,” the company said in a statement.