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.
October 1, 2016
Riyali financial literacy program reaches 150,000 beneficiaries across 24 citiesRead more
July 1, 2016
Over 20+ operating companies blaze a path of success across 13 countries and collectively employ 5,000 people.Read more
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.Read more
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.Read more
February 13, 2013
The Elaf Bakkah hotel launches, bringing Elaf’s portfolio of hotels to 13. Meanwhile, Intimaa relaunches 4 main business lines.Read more
February 14, 2012
The Riyali financial literacy program launches, and is awarded the Makkah Excellence Award for Social Responsibility.Read more
February 20, 2009
SEDCO Holding restructures, and launches SEDCO Development. The firm also obtains a CMA license to create asset manager SEDCO Capital.Read more
February 1, 2008
Launching Red Sea Mall that includes the Headquarters of SEDCO Holding Group and the first hotel of Elaf Group in Jeddah.Read more
January 4, 2005
Acquisition of 21.3% of bank Muamalat Indonesia ( BMI ) in Indonesia, the largest Islamic bank in Indonesia.Read more
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.Read more
July 24, 2003
Acquires 50 percent ownership interest in Al-Nahdi pharmacy chain. Jumped from 100 pharmacies in 2003 to 1,000 branches in 2016Read more
June 17, 1996
Establishment of Elaf Group in 1996.Read more
September 22, 1987
Almahmal opens door to first visitor. It has been a landmark of Al-balad in Jeddah until today.Read more
February 14, 1983
Auto World was established in 1981.Read more
February 14, 1976
The launch of Saudi Economic and Development Company ( SEDCO ) founded by the late Sheikh Salem Ahmed Bin Mahfouz.Read more