Al Saedan Real Estate: future and strategy

The family first started the business with my grandfather 85 years ago. It was a small business, he used to build small houses and sell them. My father used to help him in building these houses. Then my father started the company with this existing CR by developing infrastructure. My eldest brother then led the company and I see myself as the 3rd generation and we are now preparing the 4th generation for the company. Al Saedan Real Estate has grown. The upcoming strategy is to structure the company and institutionalise it. The plan is to go IPO in order to sustain the business. Usually 20% of family businesses survive until the 3rd generation. By listing the company, Al Saedan will become more structured and more regulated by the Saudi capital market. That is what we aim for now. We have increased our capital and reformed the board of directors. We have corporate governance and different types of committees. We also have middle management in the company and we are trying to isolate ownership from management.

Ahmad Ibrahim Bin Saedan, GM for Real Estate Development at Al Saedan Real Estate talks about Al Saedan Real Estate.