Al-Fahim offered to purchase Portsmouth from Alexandre Gaydamak late in May, and completed financial due diligence this month.

The 33-year-old passed the Premier League fit-and-proper persons test, and shortly after he was confirmed as Pompey new chief.

"I very much look forward to working closely with the club's management and supporters to develop Portsmouth Football Club and deliver future success," Al Fahim told the club's official website.

"The club has a long and fine history of achievement that I intend to build on."

From his side, Peter Storrie, who will keep his position as chief executive at Fratton Park, believes the takeover will bring stability to the club.

"This appointment brings stability to the club and is excellent news for Pompey supporters," he stated.

"I have every reason to believe that together with the new chairman we will be able to take the club forward to further achievements building on the successes of the past three years."

Al-Fahim, who is a board member of Abu-Dhabi United Group, was also involved in the oil-rich company's buyout of Manchester City last year.