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Saudi Economic and Development Company
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Also known as: SEDCO
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Sector | Industry Financial Services | Investment Companies - Islamic
Country of Origin Saudi Arabia
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| Country |
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Saudi Arabia
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| Ownership Type |
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Private |
| Company Type |
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Limited Liability |
| Sector | Industry |
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| Principal Activities |
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Investment according to Islamic principles in real estate, public and private equity and venture capital portfolios. Real estate property development including residential, office, retail, industrial, hotel and resort properties. |
| Date of Establishment |
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1976 |
| No of Employees |
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1,500 (Group) |
| Brands |
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China Gate |
| Principals and Agencies |
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Applebee's |
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| Key Officers |
Saleh Salem Bin Mahfouz
Chairman and Managing Director and Managing Director, Real Estate Group
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Ahmad S Banaja
Director and Chief Executive Officer
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More Officers  |
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| Latest Headline |
Is Islamic finance market ready for hedge funds? - Arab News
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| More News |
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| Business Overview |
Saudi Economic and Development Company (SEDCO) was established in 1976 as a contracting and trading firm with three employees. SEDCO has evolved, throughout 30 years, to become a major investment company with 1,500 employees and diversified interests in the financial and real estate sectors based on Islamic Sharia principles.
SEDCO was restructured in 1997 into a private holding company, consisting of three separate investment divisions: real estate, financial investments, and direct investments. SEDCO invests in all major asset classes, regions, styles and sectors, including public and private equity and venture capital. It has formed and co-sponsored several funds, including Alfanar family of funds which has grown to over USD250 million in assets.
In addition to SEDCO's real estate division that holds a portfolio of over 300 diversified properties located in 17 countries, SEDCO entered as strategic investor in companies focusing on hotels, travel and tourism, family entertainment and commerce. It also owns companies in pharmaceuticals, manufacturing as well as auto-leasing.
In addition to investments in networking technologies and IT services in 2006, SEDCO partnered with the Islamic Bank and Bahrain Investment Bank to form Ewaan, a USD100 million real estate development company that aims to invest USD533 million in the Saudi Arabian real estate market in the time span 2006- 2009. Ewaan has already initiated a USD266.64 million project to construct residential buildings for middle-income citizens.
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| Major Shareholders |
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Available to subscribers only. Information in this section includes Shareholder Names and their corresponding Holding Percentages. » More Details |
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| Organization Structure and Related Entities |
| Subsidiaries/Associates/Affiliates |
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| Investments |
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| Green Packet Networks - Malaysia |
Malaysia | 10.00% |
| Bank Muamalat Indonesia |
Indonesia | - |
| Bishopsgate |
United Kingdom | - |
| CMIA |
China | - |
| Diamond Point Office Property |
United Kingdom | - |
| Kensington Park Apartments |
United States | - |
| Pacific View Residential Townhouses |
Hong Kong | - |
| Pearl Valley |
United States | - |
| UTI |
India | - |
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| Funds |
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| AIF Capital SEDCO First Equity Asia Islamic Fund |
Saudi Arabia | - |
| APIDC Venture East Sedco Proactive Private Equity Fund |
Saudi Arabia | - |
| Al Fanar Family of Funds |
Saudi Arabia | - |
| Al Fanar U.S Equity Hedge Fund |
Saudi Arabia | - |
| Injazat Technology Fund |
UAE | - |
| STIC SEDCO Shari'a Technology Fund |
Saudi Arabia | - |
| The Eurx Fund |
Saudi Arabia | - |
| UBS SEDCO Shariah Compliant Timber Fund |
Saudi Arabia | - |
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| Divisions |
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| Direct Investments Group [DIG] |
UAE | - |
| Financial Investments Group [FIG] |
Saudi Arabia | - |
| Real Estate Group [REG] |
Saudi Arabia | - |
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| Summary Financials |
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Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details |
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| Company information provided by © 2008 ABQ Zawya Ltd. |
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