SEDCO Development is a wholly owned subsidiary of SEDCO Holding, offering real estate development management services.
SEDCO Development offers integrated services that enable real estate projects. It identifies market opportunities, and then supports partners with planning, design, approvals and execution. The team also sources investors and undertakes transaction-structuring negotiations.
In 2018, SEDCO Development continued its pivot towards a revenue model where returns are generated via development fees, profits, income from operations, and capital gains. The firm secured new projects while continuing work in hand.
SEDCO Development focused on two key Jeddah-based projects in 2018. It obtained permits for Al Narwas project, owned by SEDCO Holding, and Al Rawdah, owned by SEDCO Holding and Methak.
In Madinah, studies began on a new project for an external client. Concepts and designs were finalized for a Four Seasons hotel and permits are now in-progress. Ground works for excavation have been started.
Looking to the future
In 2019, SEDCO Development expects to maintain prudent growth despite market challenges and a tightening real estate sector. Business growth will be driven in partnership with capital providers by opportunities in Jeddah, Makkah, Madinah, Yanbu and Taif.