ArabFinance: Egyptian Resorts Company (ERC) (EGTS) has announced the appointment of Mohammed Abdel Fattah as Non-Executive Chairman succeeding Hussein Abu Saada, according to the al-Borsa News website.
Hussein Abu Saada as his position as chairman and managing director of the company submitted his resignation on September 2nd. In addition, he resigned from representing ERC in its subsidiary Sahl Hasheesh for Touristic Investment Company (SHTI).
ERC delegated Abdel Fattah to reform SHTI’s board of directors.
The listed company's board earlier approved re-studying the establishment of 321 residential units over 44,354 square meters due to the pandemic impact on the tourism sector.
ERC is an Egypt-based company that operates in the tourism and hospitality sectors. The company is engaged in the construction and management of integrated touristic and residential projects in Sahl Hasheesh, Red Sea Governorate.