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Arab Finance: Hassan Allam Holding Group is considering listing some of its subsidiaries on the Egyptian Exchange (EGX) or Gulf stock exchanges, while ruling out plans to list the holding company itself, Chairman and CEO Hassan Allam said on the sidelines of the 18th BMG Economic Forum at the London Stock Exchange.
Speaking to Asharq Business, Allam said that the group's construction projects currently under execution are valued at approximately $10.5 billion, with around half of that portfolio located outside Egypt.
According to Allam, Saudi Arabia is Hassan Allam Holding Group's largest international market, representing half of its business outside Egypt, followed by the UAE, Libya, and Oman.
He noted that the group's contracts in Saudi Arabia exceed $2 billion and said the company is looking to further expand its presence in the Kingdom's real estate sector.
Allam also revealed that construction has begun on the Noor project in Saudi Arabia, which carries investments of SAR 3 billion.
