State-owned Heliopolis for Housing and Development (HHD) reporteldy has a new board of directors after the previous board resigned after the company failed to secure offers for its tender for a 10% stake + management rights in February, prompting it to abandon its share sale plans. Former Giza governor Khaled El Adly has been tapped as the new chairman of the board, according to a report in Al Mal citing unnamed government officials. The new board will officially be announced during HHD’s general assembly meeting on Thursday.

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