ARDIC Developments agreed on reducing the number of the members of directors from 16 to 9 and hiring well-experienced figures, who are specialized in the real estate development, contracting, and the banking sector.
This came during the company's meeting, during which the contributors discussed amending the provision no. 21 of the company's regulation.
Eng. Mahmoud Hegazi was named as the chairman of the Board of Directors of the company due to his great experience in the contracting and urban development.
Dr. Samir Aref and Mohamed Ahmed were chosen as vice-chairman.
Mr. Ashraf Salman, the former Minister of Investment, was selected as a member of the Board of Directors for his experience in corporate management and governance, dealing with investment funds, and file management as well as Mr. Ahmed Mohamed Ahmed Dawood.
Representatives of Faisal Islamic Bank, Union National Bank, and Misr Life Insurance Company were also selected.
ARDIC implements many projects nationwide such as Zizinia El-Mostakbal Compound over an area of 70 feddans in New Cairo. The compound consists of 1,800 housing units, a mall, a medical service center, a club, and an artificial lake.
The luxurious company eyes investing in Upper Egypt by establishing a new project over an area of 310 feddans with investments, exceeding EGP14 billion.
ARDIC CEO Eng. Maged Salah, who has extensive experience in the field of real estate development, worked for Palm Hills Developments for four years and Madaar Developments.
Its core strategy in its projects came through maximizing the usage rate of the resources, without sacrificing the luxurious experience and it would be a smart move from ARDIC to be inspired and willing to learn from the unique global experiences of highly developed societies, while preserving the cultural heritage of Egypt.
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