Chairman-CEO – Somabay Handbook

Chairman – CEO

Chairman

Mr. Saleh assumed the role of Minister of Investment in 2012 for two consecutive terms. In 2009, he was appointed as the Chairman of the General Authority for Investment and Free Zones (“GAFI”) for four years. Prior to Chairing GAFI, Mr. Saleh was the Chairman of the Mortgage Finance Authority (“MFA”) for four years. He was responsible for laying the foundation of the mortgage finance industry in Egypt, as well as the real estate appraising system and its respective rules and regulations.

Mr. Saleh currently chairs the board of several companies, including Abu Soma Development Company, Damietta Furniture City, Ayady Misr for Industrial Development, and Sixth of October Development and Investment Company (“SODIC”). He also serves on the boards of several companies and institutions, including the National Investment Bank, NI Capital, GAMA Construction Company, and The Egyptian Company for Electricity Distribution.

Mr. Saleh is the founder and chief executive officer of RiseInvest for Financial and Investment Solutions.

Mr. Saleh has a total of 25 years of banking experience. He held the position of the Regional Manager for Egypt and the Middle East at American Express Bank, and he also served as a visiting professor at the American University in Cairo.

Mr. Saleh holds a Bachelor of Commerce from Cairo University. During his career, he received a diploma in mortgage finance and securitization from Wharton University, in addition to several professional studies and degrees.

CEO

Ibrahim joined Abu Soma Development Company (ASDC) in 2012 as Director of Development and assumed his current role as CEO at the end of 2014.

His responsibilities include managing ASDC and the group of companies in which ASDC is a majority shareholder in that are operating in Somabay on the Red Sea in Egypt. During his tenure, Ibrahim developed the company’s real estate business, restructured the existing hotels physically, financially & operationally, and established Somabay as a recognized brand and destination.

Prior to joining ASDC, Ibrahim was the Regional Business Development Director, CH2MHill, MENAI (2013), Director of Development, MNHD, (2009 to 2012), Director of Development, North Africa, Limitless [a Dubai World Company] (2008 to 2009), Business / Commercial and Project Controls Manager Roles across 5 countries, Bechtel, (1994 to 2008).

He graduated from the American University in Cairo in 1994 with B.Sc. in Construction Engineering with High Honors, then he got his M.Sc. Degree from University College London in 1999 in Built Environment

About Somabay

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