SECON Gears up for EGP2bn Investments in Egypt Early 2015

Saudi Egyptian Construction Company – SECON is planning to pump EGP 2 billion worth of new investments early 2015, Amwal Al Ghad quoted CEO Darwish Hassanein as saying on Monday.

Hassanein further said SECON’s planned investments in the Egyptian market include the completion of three housing projects, varied between tourist, average and above-average units.

The new investments would come in line with finalising SECON’s existing projects, he added.

SECON is an Egyptian shareholding company established in 1975 under private international convention between the Egyptian government and Kingdom of Saudi Arabia, with a joint capital of 50 million dollar’s divided equally between the two governments.

And then added to the company’s activity tourism investment and the capital of the company became 75 million dollars was fully repaid equally between Government of Arab Republic of Egypt and Kingdom of Saudi Arabia.

The company capital was increased to be 37 Million Dollars in June 2014.