06 Jul 2020
SEDCO Holding has earned a prestigious place on Forbes Middle East magazine’s annual list of the ‘100 Most Powerful Family Businesses in the Middle East for 2020’. The group achieved rankings of 20th in the Middle East and 9th in the Kingdom of Saudi Arabia based on its investments in regional and global stock exchanges, real estate assets, business diversification, and types of economic activity. The classification system also took into account the impact of the COVID-19 crisis, together with the number of employees, the number of countries in which SEDCO operates, and the company’s date of establishment.
The Forbes ranking represents another milestone for SEDCO in a long line of achievements spanning more than four decades in sectors crucial to the national economy. These include health care, education, asset management, hospitality, and real estate, both within the Kingdom and around the world. This diversity has played a significant role in the company’s successful performance, as well as its strong resilience during the global COVID-19 pandemic.
SEDCO’s inclusion in the Forbes Middle East ranking of the top 100 Powerful Family Businesses reflects the group’s passion for excellence throughout its operations. In addition, the company has been recognized for its outstanding contribution to society and steadfast commitment to the professional development and welfare of its team members.
SEDCO Holding was founded in 1976 by the late Sheikh Salem Bin Mahfouz. It is considered among the leading family-owned companies in the Kingdom in applying the corporate governance concept, an approach that has created a solid foundation for its continuity and enabled it to achieve a balance that reflects the needs of management, ownership, and family relations.
Based on this leadership model, SEDCO has adopted strategic planning as part of its approach to governance, ensuring a smooth transition from one phase to another and strengthening its position at the forefront of family companies in the region.