Egyptian Resorts Company Company Summary |
 Egyptian Resorts Company S.A.E. (CAI:EGTS) is a master developer of international standard resort communities on a fully-integrated management basis. The company is incorporated in Egypt and headquartered in Cairo. Egyptian Resorts Company acquires broad land holdings suitable for premium mega resort development at nominal value. The company then creates a master plan in partnership with global architectural and urban planning firms, builds state-of-the-art infrastructure, implements design guidelines and community management rules and regulations, and then on-sells individual pre-designated plots to sub-developers and investors whose primary businesses are hotel ownership, operation and management, as well as luxury resort and residential real estate development. ERC is developing multiple recurring revenue streams that include the supply of utilities (water, electricity, communications) through its project partners, as well as community management and maintenance fees and revenues generated by Sahl Hasheesh Company.
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DIRECTORS / OFFICERS |
Dr.Samir Makary
Non-Executive Chairman
Dr. Makary has over twenty years of experience in market and financial analysis and economic policy issues. Dr. Makary has worked as a consultant for Hazem Hassan Management Consultants, the Desert Development Center of AUC, Arab International Consultants and PIEDA, a British consulting firm. In these roles, he provided consulting services to a number of governmental and non- governmental bodies, such as the Tourism Development Authority (TDA), the Holding Company for Housing, the Ministry of Industry, the Ministry of Tourism, and the Desert Development Center of AUC (DDC). He is also a professor of Economics at the American University in Cairo. Dr. Makary has conducted over 350 research studies of almost all sectors and sub-sectors of the Egyptian economy in support of the efforts of numerous international organizations.
| Mohamed Kamel
Chief Executive Officer
Mr. Kamel is a former Board Member of ERC and Vice President of Corporate Development. Prior to ERC, he served in various roles with KATO Investment including Corporate Vice President for Strategy and Governance and Business Development Manager. He has an MBA from Harvard Business School and an MA in Economics from the American University in Cairo. He is an ex-consultant with Bain and Company in London.
| Darren Gibson
Vice President of Planning, Approvals and Infrastructure
Mr. Gibson comes to ERC with over 20 years of experience in public and private sector urban planning, including 8 years as a Company Director in town planning and development consultancy practices. He has extensive experience in assessment and management of urban planning projects, including master plans and large urban land release areas, major tourism projects, commercial and residential projects and major infrastructure. He is an Honors Graduate in town planning from the University of New South Wales, Sydney, Australia and is a Certified Practicing Planner with the planning Institute of Australia.
| Abu Bakr Makhlouf
Investor Relations Manager
Mr. Makhlouf has an MBA from IESE Business School in Spain and a BA in Commerce from Cairo University. Prior to joining ERC, Mr. Makhlouf worked with CEMEX, one of the world’s largest cement and Ready Mix producers with operations in over 50 countries.
| David Tully
Chief Information Technology Advisor
Mr. Tully worked with Deloitte on client information system practicalities and business model fit. He has worked with medium-to-large residential developers with a focus on value-added services. He has extensive experience with international hotel chains (e.g., Accor, Starwood Group) focusing on back-of-house systems and guest services.
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COMPANY DATA |
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Headquarters |
4A Aziz Abaza St., Zamalek |
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Cairo, Egypt |
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Telephone |
+20-2-2735-8427 |
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Fax |
+20-2-2735-2743 |
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Principal Sector |
Real Estate General |
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Principal Industry |
Leisure & Entertainment |
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Homepage |
erc-egypt.com |
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Key Developments: Egyptian Resorts Company
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Egyptian Resorts Company (CAI:EGTS) Announces Consolidated Results for Second Quarter 2010
AUG 18, 2010 10:45 - Article Views: 2,564
Egyptian Resorts Company (CAI:EGTS), Egypt's leading master developer of mega communities, announced today its consolidated results for the second quarter of 2010, reporting a net profit of EGP 2.98 million on revenues of EGP 2.85 million. Profits were supported by EGP 14.36 million in foreign exchange gains and interest income. |
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Egyptian Resorts Company (CAI:EGTS) Appoints Dr. Samir Makary As New Chairman
JULY 8, 2010 18:05 - Article Views: 3,337
Egyptian Resorts Company (ERC) (CAI:EGTS), Egypt's largest master developer of mega resort communities, announced today that its board of directors has appointed leading academic and industry expert Dr. Samir Makary as the company's chairman. |
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Egyptian Resorts Company (ERC) (CAI:EGTS) Announces Consolidated Results for First Quarter 2010
MAY 14, 2010 10:04 - Article Views: 3,315
Egyptian Resorts Company (CAI:EGTS), Egypt's leading master developer of mega communities, announced today its consolidated results for the first quarter of 2010, reporting a net loss of EGP 2.9 million on revenues of EGP 4.4 million. By comparison, ERC reported profit of EGP 9.5 million in the first quarter of 2009 on revenues of EGP 6.7 million, bolstered by lower depreciation charges and substantial foreign exchange gains. Profits in the quarter just ended were impacted by both a 34.3% drop in revenue and a sharp 675% rise in depreciation costs to EGP 3.2 million on the back of infrastructure and network assets capitalized last year. |
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Leading Global Developer Orascom Development Holding (SWF:ODHN) to Develop Sahl Hasheesh Marina, Takes Equity Stake in ERC (CAI:EGTS)
APR 29, 2010 19:30 - Article Views: 5,357
Egyptian Resorts Company (CAI:EGTS), Egypt's largest master developer of mega resort communities, and Orascom Development Holding (SIX: ODHN:SW) announced today that they had concluded an agreement under which Orascom Development and Management (ODM), a subsidiary of global powerhouse Orascom Development Holding (ODH), will manage the development of the Marina at Sahl Hasheesh. |
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Egyptian Resorts Company (ERC) (CAI:EGTS) Announces Consolidated Results for Full Year 2009
APR 2, 2010 16:29 - Article Views: 4,338
Egyptian Resorts Company (ERC) (CAI:EGTS) announces consolidated revenue of EGP 25.7 million and consolidated earnings before tax of EGP 8.1 million compared to EGP 347.7 million and EGP 345.9 million respectively for the previous year. |
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