SECON to Invest EGP 2 Bn in Egypt in 2017

Monday, 9th January 2017

Saudi Egyptian Construction Company (SECON) is to pump investments worth EGP 2 bn worth of projects in Egypt during full-year 2017 in an effort to promote the company’s strategy to achieve revenues, according to Chairman Darwish Hassanein, Al Borsa reports.

The company will execute Secon Towers in Maadi, Al Riyadh Secon in New Cairo, Dora Assiut in New Assiut City, and Secon Resorts in New Damietta in 2017, according to their official website.

Secon’s current capital is USD 318 mn following contributions by the Saudi government in cash and the Egyptian government in lands, whereby the latter provided three land plots encompassing 97 acres in New Assiut, New Cairo, and New Damietta, Amwal El Ghad notes.

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