With over 25 years of experience in corporate, banking, and capital markets, Dr. Hani Sarie El Din is a prominent legal practitioner in Egypt and the Middle East. In addition to his private professional career, Sarie El Din has served in executive and non-executive public positions including Chairman of the Capital Market Authority and Board Member of the Central Bank of Egypt, the General Authority for Investment, and the first official US-Egyptian Fund to promote investment in Egypt. Sarie El Din holds a Ph.D. in International Business Law from Queen Mary and Westfield College, University of London.
Magued Sherif is SODIC’s Managing Director, appointed September 2015. Sherif enjoys almost 30 years of professional experience. Past positions include Egypt Country Head and Properties Chief Executive Officer at Majid Al Futtaim Properties Egypt as well as General Manager and Senior Vice President at Palm Hills Developments for a 10-year period starting from the company’s inception. Sherif was also Chief Executive Officer and Managing Director at Hyde Park Properties for Development. Sherif was most recently the co-founder and managing director of The Venturers LLC in Orlando, Florida, as well as the co-founder of AA Investments LLC, Orlando. Earlier in his career, Sherif worked as the Head of Privatization Unit at Arthur Anderson, in addition to spending seven years at Bechtel Egypt and Bechtel Limited. He began his career as a Site Engineer with Orascom Construction Industries in 1986.
Sherif holds a Bachelor’s degree in Architecture from Cairo University, in addition to an MBA from the American University in Cairo.
Walid Sulaiman Abanumay has been the Managing Director of Al-Mareefa Al Saudia Company since 1997. Prior to this, he served in the Treasury and Corporate Banking Departments of SAMBA Financial Group. Abanumay has served on the Board of Directors of several companies and funds including, Joussour, Beltone Financial, UGIC, Mena Capital Fund and GB Auto. He also served on the Boards of SAFCO, Nasr City, Al-Inmaia, Al Raya Holdings and Al Masafi. Abanumay holds a Bachelor of Science in Computer Science from Southern Illinois University, a Master’s degree in Management Information Systems from the University of Illinois and a Ph.D. in Business Administration with a specialisation in Finance from Southern Illinois University.
Sabah Taysir Barakat is the Vice President of Riyadh-based Olayan Financing Company, overseeing a portfolio of wholly owned and joint venture companies in the fields of energy, construction, and real estate development. From 2003-2008, Barakat was Vice President of Bechtel Group, from 1998-2003, he was the Regional Vice President of National Grid Plc., and from 1986-1998, he worked for the Costain Group Plc., a leading international contracting firm, specialising in infrastructure, energy, and building construction. Barakat graduated in 1986 with an Engineering degree from London University as a Chartered Engineer, and he was a member of the UK’s Institute of Civil Engineers. Barakat is also a member of the UK’s Chartered Institute of Management.
Yezan Haddadin has over 15 years of investment and investment banking experience and is currently the Chief Investment Officer of the Capital Bank Group. In 2013, he co-founded HCH Partners, a private equity investment company focused on East Africa, where he currently serves on the Board. Prior to that, Haddadin acted as Advisor at Ripplewood Holdings LLC., following his post as Managing Director at Perella Weinberg in New York from 2007 to 2012 and his work with JPMorgan’s M&A group in New York from 2000 to 2007. Haddadin received a Bachelor of Science from Georgetown’s School of Foreign Service and a Juris Doctor from Northwestern University School of Law.
Hisham El-Khazindar is the Managing Director and Co-Founder of Qalaa Holdings. El-Khazindar also serves on the board of several leading regional companies, and on the Advisory Committee of the Emerging Markets Private Equity Association. He also serves as a Trustee of the American University in Cairo, a Trustee of the Cairo Children’s Cancer Hospital, and as a Fellow of the Aspen Institute’s Middle East Leadership Initiative. Prior to co-founding Qalaa Holdings, El-Khazindar held the position of Executive Director of Investment Banking at EFG Hermes. During the period 1999-2000, Al-Khazindar was on secondment to Goldman Sachs in London. El-Khazindar holds a Bachelor’s in Economics from the American University in Cairo and an MBA from Harvard Business School.
Hussein Choucri is the Chairman and Managing Director of HC Securities & Investment. Choucri also serves on the Boards of the Holding Company for Tourism and Cinema (HOTAC), Edita Food Industries, Integrated Diagnostics Holdings (IDH) and the Egyptian British Business Council (EBBC). In addition, Choucri is the Chairman of the Board of Trustees of Shefaa Charity Foundation. Choucri held the position of Managing Director at Morgan Stanley, New York from 1987 to 1993, before serving as an Advisory Director until December 2007. Prior to joining Morgan Stanley, Choucri worked with Abu Dhabi Investment Company. Choucri received a Management Diploma from the American University in Cairo and a Bachelor’s from the Faculty of Commerce, Ain Shams University.
Omar Salah Bassiouny is the co-founder and Executive Partner of Matouk Bassiouny and the head of the company’s Corporate and M&A group. Bassiouny has a strong track record in the areas of corporate law and mergers and acquisitions. Bassiouny is a prominent member of several chambers of commerce and business associations. His achievements have been recognised with numerous awards such as Leading Lawyer in Mergers & Acquisitions in Egypt in 2014 by IFLR 1000 and Leading Lawyer in Egypt in 2013 by Chambers & Partners. Bassiouny received a Bachelor’s in Public and International Law from the American University Cairo and a Licence en Droit from the Faculty of Law at Cairo University.
Omar Elhamawy is the Chief Financial Officer of SODIC, as well as the Managing Director of SODIC’s fully owned company SOREAL for Real Estate Investment. Prior to joining SODIC, Elhamawy spent eight years as a Director within Beltone’s Investment Banking Division, where he focused on the real estate sector through his close involvement in both M&A and Capital Market transactions, advising Mena for Touristic and Real Estate Investments on a capital increase, Beltone Private Equity on the tender offer and acquisition of Nasr City Housing and Development, and advising Amer Group on its IPO. Elhamawy holds a Bachelor’s degree in Business Administration from the American University in Cairo and is a CFA Charterholder.
Shehab Elorabi is SODIC’s Chief Technical Officer. Elorabi joined SODIC in 2009 as Executive Director of Project Controls. Previously, Elorabi spent five years as Senior Development Manager at Dubai-based Nakheel Co. LLC, following his post as Projects Control Manager at Hill International Project Management Firm. His experience in Egypt includes time spent with Turner International and International Bechtel Inc. Elorabi started his career with Bechtel Corporation in the USA as Project Controls Engineer, where he spent the first six years of his professional career. Elorabi has an MBA from Golden Gate University in San Francisco, and a Bachelor’s of Science in Industrial Engineering/Operations Research from the University of California, Berkeley.
Magued Sherif is SODIC’s Managing Director, appointed September 2015. Sherif enjoys almost 30 years of professional experience. Past positions include Egypt Country Head and Properties Chief Executive Officer at Majid Al Futtaim Properties Egypt as well as General Manager and Senior Vice President at Palm Hills Developments for a 10-year period starting from the company’s inception. Sherif was also Chief Executive Officer and Managing Director at Hyde Park Properties for Development. Sherif was most recently the co-founder and managing director of The Venturers LLC in Orlando, Florida, as well as the co-founder of AA Investments LLC, Orlando. Earlier in his career, Sherif worked as the Head of Privatization Unit at Arthur Anderson, in addition to spending seven years at Bechtel Egypt and Bechtel Limited. He began his career as a Site Engineer with Orascom Construction Industries in 1986.
Sherif holds a Bachelor’s degree in Architecture from Cairo University, in addition to an MBA from the American University in Cairo.
Omar Elhamawy is the Chief Financial Officer of SODIC, as well as the Managing Director of SODIC’s fully owned company SOREAL for Real Estate Investment. Prior to joining SODIC, Elhamawy spent eight years as a Director within Beltone’s Investment Banking Division, where he focused on the real estate sector through his close involvement in both M&A and Capital Market transactions, advising Mena for Touristic and Real Estate Investments on a capital increase, Beltone Private Equity on the tender offer and acquisition of Nasr City Housing and Development, and advising Amer Group on its IPO. Elhamawy holds a Bachelor’s degree of Business Administration from the American University in Cairo and is a CFA Charterholder.
Mohamed El Garhy is SODIC’s Chief Development Officer, appointed in December 2015. El Garhy has 30 years of international experience in real estate, mixed-use development and project management, during which he held several senior executive positions within prestigious real estate investment companies and hospitality groups. El Garhy excelled in managing mega projects for the likes of Palm Hills Development, The Egypt Emirates Malls Group, Accor Group, and Dar Al Handasah. Prior to joining SODIC, El Garhy worked as the CTO for Katara Hospitality. El Garhy holds a degree in architecture from the Faculty of Fine Arts, Helwan University and has won numerous awards for special merits throughout his expansive career.
Ahmed Labib is the Chief Commercial Officer of SODIC. Labib is responsible for setting and achieving company-wide commercial objectives and marketing strategy. Labib joined SODIC in 2007 as a Sales Manager and has since grown to the position of CCO. His previous experience includes working in the Marketing Department at McDonalds and spending seven years in the Marketing and Consumer Relations Platform at British American Tobacco (BAT) where he held various positions, the last of which was Multiple Category Brand Manager.
Sherif El-Abd is SODIC’s Chief Business Development and Government Relations Officer. El-Abd brings over 20 years of diversified experience. He has contributed to the growth of every business he was part of through developing and managing business strategies as well as incubating new business models as a tool for successful turnarounds. His previous experience includes numerous positions held throughout his 11-year tenure with Coca-Cola Atlantic Industries, punctuating his time there as Senior General Manager. He spent time at Kalioub Plant (TCCBCE), Americana Group, and Almatex.
Hisham Salah is the Chief Information Officer of SODIC. Salah has 25 years of professional experience in the areas of information technology and corporate systems. Salah’s previous experience includes serving for eight years as Vice President of Technology at Palm Hills Developments, in addition to spending seven years with Microsoft as the Head of Communications Sector and later, the Head of Government sector in Egypt. Before joining Microsoft, he held the position of Head of Information Technology at Commercial International Life Insurance Company (CIL). Salah began his career at Commercial International Bank (CIB), where he held various positions in Information Technology and Operations. Salah holds a Master of Science degree in Information Technology from Middlesex University in London.
Hatem ElHalwagy is the Chief Projects Officer of SODIC. ElHalwagy joined SODIC in 2006, and has since been entrusted with managing several of the core departments. He has also established and set up several support departments aimed at aligning the company’s direction with its mission, including the departments’ recruitment, policies, procedures, and systems before handing them over to their selected Directors. His previous experience includes holding the post of Director of Development for Orascom Tourism and Development and Cairo Financial Center. ElHalwagy holds a Master’s degree in Finance from the University of Reading, UK, and a Bachelors’ degree in Construction Engineering from the American University in Cairo.
Hazem El Tawil is SODIC’s Chief Planning and Compliance Officer. He is responsible for the planning, technical monitoring and compliance of SODIC’s future, current and delivered projects. El Tawil joined SODIC in 1998 as Director of Design and Technical Affairs. Prior to joining SODIC, El Tawil worked for the Architecture/Engineering firms of Dewberry and Davis in Raleigh, NC, and Skidmore, Owings and Merrill in Chicago, USA for a period of five years. He later returned to Egypt to join Dar Al-Handasah. El Tawil holds a Bachelor’s of Architectural Engineering from Cairo University, as well as a Master’s of Architecture in Urban Design degree from North Carolina State University, NC, USA.
Shehab Elorabi is SODIC’s Chief Technical Officer. Elorabi joined SODIC in 2009 as Executive Director of Project Controls. Previously, Elorabi spent five years as Senior Development Manager at Dubai-based Nakheel Co. LLC, following his post as Projects Control Manager at Hill International Project Management Firm. His experience in Egypt includes time spent with Turner International and International Bechtel Inc. Elorabi started his career with Bechtel Corporation in the USA as Project Controls Engineer, where he spent the first six years of his professional career. Elorabi has an MBA from Golden Gate University in San Francisco, and a Bachelor’s of Science in Industrial Engineering/Operations Research from the University of California, Berkeley.
SODIC’s success is owed to a combination of hard work, dedication, diligence, and a strict adherence to sound principles of corporate governance, high ethical conduct, and good corporate citizenship. We firmly believe these three principles alongside trust, transparency, and open communication serve as the main propellants that drive our performance as a company and that enhance shareholder value.
SODIC, as a listed company, is bound by the disclosure rules and new listing rules set by the Egyptian Exchange (EGX) and approved by the Egyptian Financial Supervisory Authority. Accordingly, we are in compliance with the corporate governance, financial reporting, and disclosure provisions of the rules.
SODIC reports all its financials on a quarterly basis and announces all major news and developments regarding the company’s operations in a clear, coherent, and timely basis. All material matters concerning the corporation, including company objectives, financial and operational results, major share ownership and voting rights, information about Board members, related party transactions, and governance structures and policies are expressed and conducted with complete transparency.
In keeping with our belief of open and transparent communication, SODIC runs an active Investor Relations programme. Communication with investors and analysts is an ongoing practice throughout the year and includes regularly scheduled Investor Relations events, one-to-one and group meetings with the Executive Directors, and tours of our properties, as well as routine contact with the Investor Relations department.
In 2016, our Managing Director, CFO, and Investor Relations team held over 200 meetings with representatives from each of our institutional investors. Such interaction is a testament to our desire to build a strong reciprocity of dialogue between the company and our shareholders.
This year, SODIC has participated in 10 investor conferences and roadshows spread across Egypt, Europe, the USA, the Middle East, and Africa, cementing stable communication with our global net of investors.
In addition to such initiatives, the Executive Board members attend the Annual General Meeting, which is an opportunity for all shareholders to engage in direct communication with the Directors on a one-to-one basis.
Materials including investor presentations, our financial results, and information on the work of the Board and its committees can be downloaded at ir.sodic.com.
Under both Egyptian company law and SODIC’s articles of association, the board has ultimate responsibility for all decisions concerning the company’s business strategy and management.
Comprised of the Chairman, the Managing Director, two further Executive Directors, and five Non-Executive Directors, the board delegates certain responsibilities to Board Committees and Management Committees.
Defined terms of reference for Board Committees, formal documentation of powers delegated to Executive Directors, and clear reporting lines ensure that the board receives all relevant information about the business and that decisions are made by people at the right levels and who have the authority to do so.
The board convened a total of 11 times in 2016, either in person or via telephone or videoconferencing.
The Audit Committee’s responsibilities include oversight of financial and narrative reporting, internal control, risk management systems, and internal and external audit processes.
The committee consists of three independent Non-Executive Directors; Dr. Hani Sarie El Din (Committee Chairman), Mr. Yezan Haddadin, and Mr. Hussein Choucri, in addition to Mr. Hossam Helal.
The committee convened a total of 5 times in 2016.
The committee recommends and agrees with the Board on the framework or broad policies for the remuneration of the Executive Directors and Executive Management. It determines targets for any performance-related pay schemes seeking shareholder approval for long-term incentive arrangements.
In addition to this, the committee also determines the remuneration package for the Managing Director.
The committee consists of Dr. Hani Sarie El Din (Committee Chairman), Dr. Walid Abanamay, Mr. Sabah Barakat, Mr. Hisham El-Khazindar, and Mr. Yezan Haddadin.