Cairo-based construction firm, Hassan Allam Holding says total volume of businesses has reached 37 billion Egyptian pounds ($2.3 billion) in three countries; Egypt, Saudi Arabia, and Algeria.
“There were some economic changes due to fall in oil prices that have affected our businesses in Saudi Arabia.” Hassan Allam, chief executive of the Egyptian construction group, further said. “Costs of some projects there (Saudi Arabia) were cut, which hurt our receivables.”
In Egypt, the company’s total business volume at the country’s new administrative capital project amounts to 10 billion pounds, Allam added, describing it as “a first-class national project.”
Hassan Allam Group is foremost among other Egyptian construction companies to aggressively expanding activities throughout the Middle East and North Africa region. The company specializes in large scale, highly complex projects such as power stations, roads, bridges, water and waste water utilities, industrial facilities, petrochemical factories, and luxury residential communities.
