ArabFinance: Madinet Nasr Housing and Development (MNHD) announced that Ahmed El Hitamy resigned from his position as Managing Director and board member of the company, according to Madinet Nasrs statement filed to the Egyptian Exchange.

As a justification of the resignation, El Hitamy said he will join his family business, noting he will continue working with the company as a consultant till year-end.

MNHD declared cash dividends of EGP 0.45 per share payable in two installments, the statement highlighted.

MNHD is an Egypt-based real estate development company that is engaged in activities related to the development of land, buildings, and facilities, including the acquisition of lands as well as real estate sales and rentals. This is in addition to providing all types of facilities for reconstruction in Nasr City and other areas nationwide.

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