EXCLUSIVE: SEDCO Capital Listing Possible Within 3 Years, CEO Says Amid Saudi IPO Boom

Speaking on the sidelines of the Future Investment Initiative (FII) in Riyadh, Nagadi told Arabian Business there is “a road to potentially a capital market issuance by SEDCO,” but declined to elaborate further.

“I can’t comment on the timeline, but certainly within the next three years I see that happening,” he said. “There are still a few things that we need to decide upon.”

Nagadi said SEDCO Capital, the group’s CMA-regulated investment arm, now manages more than SAR 45 billion in assets across real estate, equities and third-party funds.

His comments come amid a robust period for Saudi Arabia’s equity markets. The Kingdom led the GCC in IPO activity in 2024 with 42 new listings raising $4.1 billion. The strong momentum has continued in 2025, with Saudi issuers accounting for about 76 per cent of GCC IPO proceeds in the second quarter, or roughly $1.8 billion, driven by major listings including flynas and Specialised Medical Co.

Beyond capital markets, SEDCO is expanding its real estate and infrastructure portfolio. Nagadi said the group is acquiring two industrial plots in Jeddah and Riyadh for logistics and data centre developments. It is also finalising designs for two large mixed-use projects in Jeddah — one covering 60,000 square metres on King Road and another spanning 90,000 square metres for townhouses and medium-sized apartments for lease.

“These projects will change the landscape in Jeddah and provide a product that people in the city will appreciate,” he said.

Earlier this month, SEDCO acquired a 25 per cent stake in Tamasuk Holding Company from Al Blagha Group, marking its first investment in Saudi Arabia’s infrastructure sector. Tamasuk manages a SAR 4 billion portfolio of social and transportation projects and is involved in energy and utilities development.

Nagadi said the partnership would allow SEDCO to strengthen its long-term role as an infrastructure investor. “Our investment in Tamasuk is really focused on social and transportation infrastructure, and we have aspirations to dominate these sub-sectors of infrastructure and PPPs in the Kingdom and expand beyond it,” he said.

Founded in 1976 and headquartered in Jeddah, SEDCO Holding is a Shariah-compliant investment group managing a diversified portfolio through subsidiaries such as SEDCO Capital and SEDCO Development. The company’s strategic sectors include real estate, logistics, healthcare, education, financial services and infrastructure, all aligned with Saudi Arabia’s Vision 2030 goals.