Orascom Development Egypt Reshuffles Executive Team with Key Appointments
Company - People | Jun 03, 2025 | Zawya
Orascom Development Egypt (ODE), the largest subsidiary of Orascom Development Holding AG, announced significant changes in its executive board. Mohamed Amer, formerly the CEO of El Gouna, has been appointed as an executive board member and will also serve as Managing Director for Commercial Activities. Meanwhile, Ashraf Nessim, the Group Chief Financial Officer since 2017 and CFO of ODE since 2012, has been appointed as Managing Director for Finance and Operations. These appointments coincide with the resignation of Omar El Hamamsy from his roles as Managing Director and Chief Executive Officer of ODE, though he will continue to contribute to the company as the Advisor to the Chairman of Orascom Development Holding AG in Switzerland until 2026. Omar's leadership over the past five years has been instrumental in the growth and institutionalization of the company. Orascom Development Egypt owns a significant land bank and operates a diverse portfolio of integrated communities and hotels, emphasizing its continued influence in the real estate and hospitality industries.
Sectors
- Real Estate
- Hospitality
Geography
- Egypt – Orascom Development Egypt operates primarily in Egypt, where it owns and develops significant real estate properties.
- Switzerland – Orascom Development Holding AG, the parent company of ODE, is based in Switzerland, and some of the new roles have connections to this geography.
Industry
- Real Estate – The article discusses Orascom Development Egypt, a major player in the real estate industry, focusing on integrated communities.
- Hospitality – Orascom Development Egypt's portfolio includes a significant number of luxury hotels, indicating a strong presence in the hospitality sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Orascom Development Egypt (ODE) | Subsidiary | Company | A leading developer of integrated communities in Egypt and part of the larger Orascom Development Holding AG. |
| Orascom Development Holding AG (ODH) | Parent Company | Company | The parent company of ODE, based in Switzerland, with interests in real estate and hospitality. |
| Mohamed Amer | Executive Board Member & Managing Director for Commercial Activities | Person | Newly appointed executive board member of ODE, previously CEO of El Gouna. |
| Ashraf Nessim | Managing Director for Finance and Operations | Person | Appointed as Managing Director for Finance and Operations at ODE, previously Group CFO of ODH. |
| Omar El Hamamsy | Advisor to Chairman, Former Managing Director & CEO | Person | Former Managing Director and CEO of ODE, now Advisor to the Chairman at ODH. |
| Naguib S. Sawiris | Chairman | Person | Chairman of Orascom Development Holding AG and major shareholder of Orascom Development Egypt. |