NAIROBI, Kenya, Jan 12 – Africa Logistics Properties (ALP) CEO Richard Hough has retired after six years at the helm.
ALP is a developer of modern industrial warehousing in East Africa.
Hough joined the firm in 2017 as Chief Operating Officer before being named CEO in 2019 after its co-founder and CEO, Toby Selman, quit.
In his watch, Hough oversaw the development of East Africa’s largest single industrial park at Tatu City as well as in Tilisi.
The above won him and the company numerous awards, including industrial development and IFC Global EDGE Champion.
“It has been an enormous privilege to spend six years at ALP working with a great team of both colleagues and investors,” Hough said.
“Together we have brought high quality, sustainable industrial buildings to Kenya for the first time. I wish ALP the very best for the future, and look forward to seeing their further progress,” he added.
“On behalf of the entire board, I would like to thank Richard for his diligence and dedication,” Charlie Tryon, Chairman of ALP, who recently took over the chairmanship of the company from Nicholas Ferguson, Chair of International Property Group Savills PLC, added.
The ALP board also welcomed Raghav Gandhi, who is the former Managing Director of Acorn Investment Management Limited, a local Kenyan-focused student housing real estate developer, as the new Chief Executive.
Gandhi, a real estate expert in emerging markets, will assume the role in Q1 of 2024.
Some of the regions he has worked in include South Asia, the Middle East, and North Africa.
“Industrial real estate is a premium asset class in the developed markets but still very much in its infancy here in Africa. While this may point to challenges, it also highlights significant opportunity,” Gandhi stated.
