Palm Hills Developments elected a new board of directors for a three-year term after shareholders voted at the company's ordinary general assembly meeting last week, according to an EGX disclosure (pdf).

Those at the helm are retaining their roles — Yasseen Mansour is staying on board as the company’s chairman and managing director, while Mohamed Mansour has been reappointed as vice chairman.

New on board: UNODC Executive Director and former Social Solidarity Minister Ghada Waly (LinkedIn) has been appointed as an independent non-executive board member. Meanwhile, Ismail Mansour is joining as a board member representing El Mansour & El Maghraby Investment and Development.

The company is putting together fresh funds for Casa Cook expansion with Banque Misr: The board greenlit a long-term syndicated loan of up to EGP 1.3 bn for its subsidiary Middle East for Real Estate and Tourism Investment to be co-financed with Banque Misr, according to a separate EGX disclosure (pdf). The funds will go into financing the addition of 200 rooms at the Casa Cook hotel in Hacienda White on the North Coast.

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