Madinet Nasr for Housing and Development's corporate governance structure has been set by the Board of Directors in line with the company's commitment to maintain high international standards of corporate governance best practices to protect the interest of all stakeholders and from its belief that effective corporate governance is fundamental to the success of the business.
The Board is committed to achieve the highest standards of corporate governance, corporate responsibility and risk management in directing and controlling the business.
Hazem Barakat, co-founded BPE Partners (Formerly Beltone Private Equity)
in partnership with Beltone Financial, with the vision to capitalize
on his industry and operational expertise to invest in domestic and regional
businesses with growth potential. Since joining the business, he has
led the creation of three funds, including Beltone Capital, an opportunistic
fund capitalized at US$ 85 million and valued at US$ 171 million. Other
funds are Beltone Investment Group, a buyout fund which led the tender
of a domestic real estate giant, capitalized at US$ 76 and currently
valued at US$ 291 million, in addition to Beltone Retail, with total
capital commitments of US$ 58 million. Mr. Barakat is also CEO of MIRACO-Carrier,
which he co-founded as MIRACO in 1979 with its Chairman, Mr. Adel Barakat,
to manufacture air-conditioners and residential and industrial refrigerators.
MIRACO-Carrier has one of the largest manufacturing facilities of its
kind in the Middle East. In 1999, Mr. Barakat established the Egyptian
Confectionary Company and in 2001, he established the Engineering Plastic
Manufacturing Company, the latter specializing in plastic injection utilized
for both engineering products and in the packaged food industry. The
factory is the only one of its kind in Egypt and one of the top 5 in
the Middle East. Mr. Barakat is an experienced industrialist with in-depth
knowledge of several industry types, diverse market segments and a wide
range of operational areas. In addition, he is an experienced investor
in private equity ventures as well as an accomplished business strategist.
Mr. Barakat also has firsthand experience in the areas of distribution,
industrial service, and the retail sector. Furthermore, he has practical
knowledge of business start-up, successful management of the development
phase, and capital markets interaction. Mr. Barakat graduated from the
New York Institute of Technology in 1982 with a B.Sc. in Mechanical Engineering.
He is currently Member of the Advisory Council of the School of Business,
Economics, and Communication of the American University in Cairo and
Member of the Board of Trustees of the Egyptian Economic Forum. He is
a Member of the American Chamber of Commerce, the British Egyptian Business
Association, and the Egyptian Businessmen’s Association. Previous directorships
include the Egypt-US President’s Council.
Mr. Ahmed El Hitamy is the CEO of MNHD, prior to that he held the position
of General Manager since 2012. In that position Mr. El-Hitamy is responsible
for the management of the company, making executive decisions that ensure
the sustainable growth of MNHD’s present and future projects. Bringing
over 13 years of professional multidisciplinary experience to the company,
Mr. El Hitamy joined MNHD from AIG where he held the position of SME
Division Head Middle East prior to that Mr. El Hitamy has held numerous
prestigious positions within the industry working for illustrious companies
such as Skanska, & Balfour Beatty. Mr. El Hitamy Bachelor of Science
degree in Construction Engineering from the American University in Cairo
and later went on to achieve a Master’s in Business Administration.
Ms. Moshira El Maghraby is a Board Member and Shareholder at MNHD. Ms. El Maghraby represents the National Company for Construction and Development on the board.
A seasoned professional in the management of real estate projects and companies, Ms. El Maghraby is the CEO of Maadi Real Estate Company, which is owned by the National Company for Construction and Development (NCCD).
Mr. Aladdin Saba is a Board Member, Shareholder at MNHD and represents BPE Holding on the board.
Mr. Saba is the founder of Beltone Financial, an investment bank in the MENA region, operating in the fields of Asset Management, Corporate Finance, Brokerage, Private Equity, Research and Custody. Beltone Financial has offices in Egypt, UAE, Libya, London and the USA. Mr. Saba was a co-founder of Hermes Financial, which in 1996 became EFG-Hermes. Prior to founding Hermes he was a Senior Portfolio Manager at Kidder, Peabody & Co. Inc. in New York. He is a founding member of The Egyptian Investment Management Association in addition to The Egyptian Capital Markets Association. He is on the Board of Directors of The Egyptian Exchange, GB Auto and Madinet Nasr for Housing & Development.
Mr. Saba holds a Master’s degree in Business Administration from The Wharton School, and a further Master’s degree in Biomedical Engineering from the University of Pennsylvania. He obtained a Bachelor of Science degree in Biomedical Engineering from Cairo University.
Eskandar Tooma is a tenured professor of finance with the School of Business at The American University in Cairo. He has also held a visiting professorship position with Imperial College’s Business School in London, England.
Eskandar served as executive board member and the Group Chief Financial Officer (CFO) of Swiss listed Orascom Development Holding, AG (ODH) from 2013-2016. He was appointed to the board of directors effective May 13th 2013 and asked by the board to step in as the CFO in July 2013. Eskandar played a pivotal role in raising and structuring more than USD 500Mn and restructuring the company’s organization, resulting in the successful turnaround from a previous 3 years of loss to a stable profit making regional real estate and hospitality leader.
Tooma has always combined academic experience with practical exposure through assuming a variety of public and private professional posts. From 2005 2008, he was senior advisor to the Egyptian Capital Market Authority, as well as a member of a variety of committees including the EGX30 Index Committee, Market Advancement Committee at the Egyptian Stock Exchange, an advisor and member of the Derivatives and Commodities Exchange Committee with the Ministry of Investments and an advisor to the Ministry of International Cooperation on Egypt’s Debt Swap Experience. Privately, he has advised leading financial institutions including but not limited to: Citadel Capital Private Equity, Beltone Financial Holding and the Arab African International Bank. Dr. Tooma sits/sat on the board of EGX listed and actively traded companies, to name a few: Telecom Egypt (TE), Egyptian Resorts Company (ERC), Madinat Nasr for Housing and Development (MNHD), Vodafone Egypt and Orascom Hotels and Development (OHD). In 2015, he joined the oversight board of the HSBC Egypt’s money market fund and finally in 2017 he joined the board of directors of the Egyptian Post Authority.
Eskandar obtained his B.A. in Business from The American University in Cairo and Adelphi University. Dr. Tooma holds two M.S. degrees, the first in Finance and the second in International Economics from Adelphi and Brandeis Universities respectively. Finally, he holds a Ph.D. in Finance from Brandeis University.
Mr. Katamish joined BPE Partners in 2008. He is responsible for BPE Partners’
investments in MNHD, TOTAL Egypt, PGESCo, BĒARD and Pickalbatros. Prior
to joining BPE Partners, Mr. Katamish was a brand manager at Henkel Egypt,
where he was responsible for the Persil (detergent) brand in Egypt. He
holds a BA in Business Administration from the American University in
Cairo and an MBA from London Business School.
Mr. Mohamed Al Badry is MNHD’s Legal Director.
Building on over 30 years of experience in his field Mr. Al Badry manages all the legal affairs of the company ensuring that MNHD maintains the highest ethical standards in-line with Egyptian law.
Mr. Al Badry obtained a Bachelor of Law degree from Cairo University in 1976 and is also a member of the Lawyers Union.
Mr. Fawzy Tawfik is the Company Assets Director at MNHD.
Building on his 3 decades of experience gained in MNHD Mr. Tawfik's background in urban planning intricately qualifies him for the management of the finances and assets of the company ensuring the sustainable growth of shareholder investments, whilst supporting the financial growth of the company.
Mr. Tawfik holds a Bachelor’s Degree in Urban Planning, which he received from the Azhar University in 1979.
Mr. Sherif Shawki is the Development and Design Director at MNHD, a position he has held since 2012. He was previously Development Manager at MNHD.
Bringing three decades of experience to his current position Mr. Shakwi is primarily responsible for the urban designs of MNHD’s projects. During Mr. Shawki’s extensive career he has also worked with Al Shams for Housing & Development Co and Dr. El Saiee Office for Engineering Consultancy, in addition to holding a number of high level positions within the Ministry of Electricity and Water in Oman.
Mr. Shawki holds a Bachelor of Science in Engineering from Ain Shams University.
Mr. Samir El Banani is the Sales Director at MNHD.
Mr. El Banani is responsible for developing the company sales strategy in addition to the day to day management of the sales team. Mr. El Banani brings a wealth of experience to MNHD with extensive expertise in the brokerage, real estate consultancy and auction services as well as property management. A successful business man and entrepreneur Mr. Banani is a Co-founder, Partner and the Managing Director of Coldwell Banker Egypt as well as being the Managing Director of Hamptons International Egypt and Century 21 Egypt.
Mr. El Banani holds a Bachelor of Medicine which he received from Cairo University in 1987, in addition a Business Management Diploma from Oxford Training College London – UK.
Mr. Ashraf Abaza is the Director of the Board of Affairs.
Since joining MNHD almost 30 years ago, Mr. Abaza has played a crucial role in the preparation, issuing and follow-up of the Board of Directors meetings and its decisions. Mr. Abaza played a pivotal role in the development of the company’s organizational structure and subsequent restructuring in the mid-nineties.
Mr. Abaza holds a Bachelor’s Degree in Economics & Political Science, which he received from Cairo University in 1982.
Arch. Mohsen Yousef has 26 years of experience working in the field of consultancy services at the executive management level in Egypt and the Gulf region, specializing in Design Management and Real Estate Development. After a successful career as Design Management Director at Palm Hills Developments, he joined MNHD in 2016 to head the design team.
His responsibilities include managing design services with outsourced consultants, Participating in Portfolio Enhancement for Projects to maximize projects’ outcome and Applying Value Engineering for Company projects.
Prior to that, he started his professional career at Al Mousa Eng. Consultant Office and Experts for Eng. Consultant MZECH in Saudi Arabia, and in 2008, Arch. Mohsen relocated to Egypt to join Palm Hills Developments as Design Senior Manager.
Arch. Mohsen holds a bachelor's degree in Architectural Engineering from Cairo University.
A seasoned HR Professional leading and managing the Organizational Development activities at MNHD.
Assessing operational and functional units staffing needs, developing and implementing new policies and procedures as well as identifying human resources issues; analysing information, and providing management HR recommendations. Implementing human resources strategies that includes but not limited to, talent sourcing and recruitment, compensation and benefit improvements, training and development plans, records management, safety and health, succession planning, employee relations and retention programs.
Mr. Abdelsalam has over 30 years of increasingly responsible experience in
auditing, financial & management consulting, transaction services,
corporate finance, internal auditing, administration, operations and
training gained through working at multinational leading accounting and
investment Firms. Mr. Abdelsalam holds a Bachelor of Science in Business
Administration with concentration in Accounting from University of Maryland,
College Park, Maryland, USA. Mr. Abdelsalam is also a CPA , certified
in State of Maryland and member of AICPA and also a fellow member of
ESAA in Egypt.
Mr. Mohamed Elwy joined MNHD in 2016 as Sales director. He comes from a diverse background, boasting 10 years of experience in finance, marketing, advertising, and sales.
Over the years he held management posts at a number of reputable Real Estate developers; Sodic, Amer, and New Giza. Mr Elwy started his career in portfolio management and investment banking as he worked for Delta ABN AMRO, followed by Prime holding as a Senior sales manager heading the Gulf and Lebanon's investors and institutions.
Mr. Elwy holds a bachelor degree in Marketing and International business at MSA University, high honors. He also holds a Credit course by Chase, in addition to CFA Level.