Sodic appoints new financial officer
Cairo, May 16, 2013
Leading Egyptian real estate developer Sodic that Salah Shafei has resigned from his position as chief financial officer, to be succeeded by Omar El-Hamawy, effective May 31.
El-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, a statement from the company said.
In his capacity, 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, the statement said. – TradeArabia News Service