SODIC Announces Appointment of Osama Saleh as Non-Executive Chairman of the Board of Directors

Sixth of October Development & Investment Company “SODIC” announced the appointment of Ex-Minister Osama Saleh as Non-Executive Chairman of the Board of Directors effective April 1st 2020.

Previously appointed as non-executive member of SODIC’s Board of Directors on March 10th 2020, Osama Saleh is a renowned Egyptian economist and an ex-minister of investment. He served as the chairman of the Egyptian Mortgage Finance Authority (MFA), Chairman of the General Authority for Investment (GAFI), he also served as Regional Manager of American Express Bank Ltd.

Saleh is currently the non-executive Chairman of the Board of Directors of; Ayadi for Investment and Development, Ayadi for Urban Development, Abu Soma Tourism Development Company, Damietta City Furniture Company, Founder and Chairman of Riseinvest for Financial Consultancy and Investment Solutions and Chairman of the Egyptian Serbian Business Council.

He is also a board member of several authorities; the National Investment Bank, NI Capital Company, Akhbar Al-Youm Investment Company, and the Holding Company for Electricity Distribution. Saleh is a graduate of the faculty of commerce at Cairo University.

Ex-Minister Saleh succeeds Dr. Hani Sarei El Din as SODIC’s non-executive chairman, who served as SODIC’s non-executive chairman for six years. During his tenure, SODIC has added over 7 million sqm to its land bank and has solidified its position at the forefront of the real estate market, having almost tripled its sales since his appointment.

SODIC prides itself on being a non-family owned publicly listed company. During his tenure, Dr. Hani has governed the company to the strictest corporate governance standards, ensuring transparency and proper conduct across all its dealings while overseeing the sustainable growth of the company and its expansion into new markets.

SODIC’s management team would like to thank Dr. Hani for his years of service and his invaluable contribution and wish him well in all his future endeavors and would like to welcome Ex-Minister Osama Saleh to his new position and look forward to working with him as the company enters a new growth cycle.