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.