ArabFinance: Al Shams Housing and Urbanization’s (ELSH) board of directors appointed Mohamed Ahmed Elwan El Dib as the company’s chairman and managing director, according to a February 18^th statement filed to the Egyptian Exchange.

The board also decided to appoint Ayman Abu Bakr Mohamed, Tamer Mohamed Fawzy, and Mohamed Sami Hassouna as non-executive board members.

Al SHams's former chairman and managing director Mahmoud Maghoury Mohamed passed away on January 9^th.

The listed company achieved a net profit of EGP 106.66 million during the first nine months of 2020, 10% higher from EGP 96.96 million in the prior-year period.  

Al Shams is primarily focused on the purchase and lease operations of lands for the purpose of developing, managing, selling, and leasing out property and buildings, as well as offering contracting, construction, maintenance, and management services to residential, touristic, and administrative structures.