Galal was dismissed by Masry after just five games in charge, with reports suggesting that he was shown the door after insulting the team's supporters during a 2-2 draw with Zamalek in the Egyptian Premier League.
Almeida took charge of Pharco last March, guiding them in 28 matches in all competitions. Under the 50-year-old's guidance, the team won five, drew 17 and lost six matches.
"The board thanked Almeida and his assistants for the great effort they exerted to achieve the best results. We wish the coach best of luck in the coming period," Pharco said in a statement.
Pharco, who finished eighth on their maiden Premier League appearance last season, were known for their defensive solidity under Almeida, although they were largely toothless upfront.
This term, they won just once in their opening seven games, drawing four and losing two.
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