40 Years Of Success

As SEDCO Holding marks 40 years of success as a world-class private

wealth manager and institutional investor, it also reflects on its rich history and the early efforts of its founders.

Today, the SEDCO Holding brand carries a strong market reputation due to its high standards of corporate governance and excellence in operations. The Group is considered a best in class partner for new businesses, and catalyzes success in industry sectors key to national prosperity.

Our success today owes a debt to the efforts of one man – our founder Sheikh Salem Bin Mahfouz. SEDCO – Saudi Economic and Development Company – was first founded in 1976 by the late Sheikh Salem Bin Mahfouz, growing from a small trading and construction contracting business in Jeddah to become one of Saudi Arabia’s largest conglomerates and a global force in Shariah-compliant private wealth management.

The scale and diversity of SEDCO’s operations grew apace through its formative years as the company focused on long-term investments and trade opportunities. The company evolved into a pioneering global corporation, diversifying steadily into virtually every asset class available to private and institutional investors.

As SEDCO Holding crosses the 40-year mark, it does so as a truly global company – one that has successfully made the transition to a leading, well-governed and world-class international holding group.

Timeline

2016

October 1, 2016

Riyali financial literacy program reaches 150,000 beneficiaries across 24 cities

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2016

July 1, 2016

Over 20+ operating companies blaze a path of success across 13 countries and collectively employ 5,000 people.

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2015

August 5, 2015

SEDCO Holding acquires a stake in men’s apparel brand Al Shiaka, and also adds F&B chains Macaroni Grill and Ocean Basket to its portfolio.

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2014

March 8, 2014

SEDCO Holding is ranked a Great Place to Work in Saudi Arabia. The company is 14th on the list – and will rise to 8th by 2015.

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2013

February 13, 2013

The Elaf Bakkah hotel launches, bringing Elaf’s portfolio of hotels to 13. Meanwhile, Intimaa relaunches 4 main business lines.

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2012

February 14, 2012

The Riyali financial literacy program launches, and is awarded the Makkah Excellence Award for Social Responsibility.

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2009

February 20, 2009

SEDCO Holding restructures, and launches SEDCO Development. The firm also obtains a CMA license to create asset manager SEDCO Capital.

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2007-2008

February 1, 2008

Launching Red Sea Mall that includes the Headquarters of SEDCO Holding Group and the first hotel of Elaf Group in Jeddah.

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2005

January 4, 2005

Acquisition of 21.3% of bank Muamalat Indonesia ( BMI ) in Indonesia, the largest Islamic bank in Indonesia.

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2004

May 7, 2004

Since 2004, the appointment of first Chief Executive officer from outside the family to promote the principles of corporate governance. The company still sustains this tradition.

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2003

July 24, 2003

Acquires 50 percent ownership interest in Al-Nahdi pharmacy chain. Jumped from 100 pharmacies in 2003 to 1,000 branches in 2016

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1996

June 17, 1996

Establishment of Elaf Group in 1996.

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1987

September 22, 1987

Almahmal opens door to first visitor. It has been a landmark of Al-balad in Jeddah until today.

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1983

February 14, 1983

Auto World was established in 1981.

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1976

February 14, 1976

The launch of Saudi Economic and Development Company ( SEDCO ) founded by the late Sheikh Salem Ahmed Bin Mahfouz.

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