SEDCO Development is a subsidiary of SEDCO Holding group. It is a leading private wealth management organization that conducts its business according to Islamic guidelines (shari’ah), it manages a wide and diversified spectrum of real estate and investments equities, and other businesses in Saudi Arabia and around the world. SEDCO Development was formed in 2010 as an autonomous operating company, wholly owned by SEDCO Holding, to undertake real estate development projects on behalf of both 3rd parties and SEDCO group companies. The business model of the company was transformed in 2013 from that of development management company, to that of a real estate developer. To support the new business model, the capital of the company was increased to SR 340 million authorized. Since then, the value of projects under development has increased.