Hassan Allam Holding, a privately-owned engineering and construction giant led by Egyptian billionaire businessman Hassan Allam, is set to commit $200 million to execute projects in several African countries, including Tanzania, Ghana, Uganda, Libya, Rwanda, Mozambique, and Guinea Bissau.
This initiative is made possible through a strategic financial partnership, as Hassan Allam Holding, under the leadership of Allam, has inked a $200-million facility agreement with the African Export-Import Bank (Afreximbank), a pan-African supranational multilateral financial institution.
The agreement was officially signed by Mohy Eldin Abdin, group CFO of Hassan Allam Group, and Kanayo Awani, executive vice president of Intra-African Trade Bank at Afreximbank.
The facility will catalyze the execution of various projects in sectors such as engineering, procurement, construction, building materials, and utilities across the designated African countries. It underscores Hassan Allam Holding’s commitment to contribute to the economic development of the region by leveraging its expertise in executing large-scale projects.
Hassan Allam Holding’s journey, visionary leadership, and expansion into new frontiers
With more than eight decades of operation, Hassan Allam Holding has cultivated an impeccable reputation across industries such as engineering, procurement, construction, building materials, and utilities. The company, standing as one of the largest privately-owned corporations in North Africa and the Middle East, boasts a construction backlog exceeding $3 billion.
Under the visionary leadership of Allam and his brother Amr Allam, the company has consistently maintained a prominent position in the industry. Through the successful execution of large-scale projects, Hassan Allam Holding has played a pivotal role in the economic development of the region.
The group’s latest move to execute new projects in several African countries comes on the heels of its ambitious plans to establish a foothold in the United Arab Emirates. The move follows the construction giant’s landmark agreement with the Uzbek government, solidifying its commitment to collaborate on a series of projects in the Central Asian nation.
Hassan Allam Holding’s $64-million venture with Eagle Hills Properties and expanding influence in Africa
In September, Hassan Allam Holding secured a $64-million contract with UAE-based Eagle Hills Properties. The agreement involves spearheading the development of the Soul Luxury Beach Resort on Egypt’s North Coast, covering parcels within Phase 1A. The ambitious project is slated for completion within a 960-day timeframe from the commencement of construction.
Hassan Allam Holding’s strategic investment in African projects and its global collaborations underscore the company’s commitment to advancing economic development and infrastructure on a continental scale. As the construction giant continues to carve its mark across diverse regions, its legacy of excellence and commitment to transformative projects remain at the forefront.
