One of the Largest Real Estate Projects in Egypt
Mohamed A. Abdulsalam, CEO of MENA Holding, talks about one of the largest real estate projects in Egypt.
imported 2024-03-17 17:43:07
Mohamed A. Abdulsalam, CEO of MENA Holding, talks about one of the largest real estate projects in Egypt.
The group has in total some 6 or 7 thousand employees. We have a yearly consolidated turnover from all of the group companies in the order of 3.5 to 4 billion riyals. Due to the nature of our equipment, we have a very significant fixed asset base because in our marine business we are running more than a hundred marine construction vessels.
Fawaz Hajjar, General Manager of Al Hayat Building Materials Company, talks about being the leading distributor of Grohe products in Saudi Arabia.
Fawaz Hajjar is General Manager of Al Hayat Building Materials Company, a leading supplier of sanitary ware, faucets, water heaters and more. With 15,000 items, the company is one of the largest building material distributors in the kingdom.
I think net yields generally vary between 5% to 8%. But the targets are generally between 15% to 20%. That is very achievable. You wouldn’t want to come with a lower IRR. You are putting in so much money, but the yields are between 5% to 8%. Why the IRRs are high is because the capital growth is still very strong. Economic growth is still pretty aggressive at 5.5%. So, there is a lot of growth in the market.
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IHCC is a turnkey solutions provider that specializes in healthcare, education, and mixed-use projects,. IHCC shapes contemporary and sustainable communities through providing affordable and quality design and build turnkey solutions in healthcare, education and mixed-use projects. A turnkey solutions provider, IHCC’s services include everything from conception to completion including comprehensive feasibility studies, architectural design, MEP engineering, financing, construction, equipping, furnishing, staffing, as well as facilities management and renovation services.
“The announcement of the increase of SECON’s capital and the launching of these three projects simultaneously with Egypt Economic Development Conference (EEDC) has a very important message to both local and international investors about the current atmosphere in Egypt.”
“We can only compete on internationally focused projects; we cannot compete in the local market. When it comes to international projects, where you need to have international experience, we are considered one of the only companies in Egypt who manages certain types of consortiums,” says Mostafa Al Hassan, Chairman of Global Consolidated Contractors (GCC).