SODIC (Cairo and Alexandria Stock Exchange – Ticker: OCDI.CA), the leading Egyptian real estate developer announced that its Chief Financial Officer Salah Shafei has resigned his position as Chief Financial Officer to be succeeded by Omar El-Hamawy effective May 31st, 2013.
Hamawy succeeds Shafei after almost six years with SODIC, successfully navigating through serious market challenges and continuing to create value for shareholders and clients. During Shafei’s tenure SODIC has continuously exceeded collection, delivery and net income targets.
In his capacity, Omar El-Hamawy, an Investment Banking Division Director within Beltone for more than eight years, has been very focused on the real estate sector through his close involvement in both M&A and Capital Market transactions. Hamawy’s solid banking experience and deep knowledge of the real estate sector make him a valuable addition to SODIC’s management team, supporting its future plans to further strengthen its leading position in the market.
