The Saudi Egyptian Construction Company (SECON): Real estate investments in Egypt
“Both our real estate and our tourism investments are very important for us. Egypt is an excellent location for both areas of investment.”
imported 2024-03-17 17:43:07
“Both our real estate and our tourism investments are very important for us. Egypt is an excellent location for both areas of investment.”
“The highest demand for the next five years will be for middle-income apartments. In previous years, there was a lot of demand for luxury apartments and there were not enough apartments available for the middle to low income population. I think that this will occur in Cairo particularly and I am also expecting to see growth in southern Egypt,” noted Eng. Darwish Ahmed Hassanin, CEO of Saudi Egyptian Construction Company (SECON).
“Real estate investment represents a very important part of Egypt’s economic growth and we expect good growth for real estate for the following six months,” stated Eng. Darwish Ahmed Hassanin, CEO of Saudi Egyptian Construction Company (SECON).
The main capital of SECON was recently increased by 243 million US dollars and an agreement was signed between the representatives of the two governments in the presence of the Egyptian Prime Minister Eng. Ibrahim Mahlab.
“The Saudi Egyptian Construction Company was established in 1975 by the Saudi and the Egyptian governments. It is split equally by both parties. The company was established for real estate investment in Egypt. Since 1975, we have been making excellent investments and we have been producing different kinds of apartments with the required standards for Egyptians and for Arabs,” explains Engineer Darwish Ahmed Hassanin.
“Our biggest success was in Libya from 2007 to 2010, where GCC participated in infrastructure projects throughout the country. We are currently doing similar projects in Saudi Arabia, Iraq, and Egypt. Our main focus in Egypt is the Suez Canal project,” notes Mostafa Al Hassan, Chairman of Global Consolidated Contractors (GCC).
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