Elsewedy Electric’s subsidiary, SDM for Development and Management (still under establishment), announced that it is planning to invest EGP700mn in the land earlier acquired from the Industrial Development Authority (IDA) in Sadat City. Mohamed El Kammah, General Manager of SDM, announced that developing the land will take two years and could include up to 50 factories. It is worth noting that SDM for Development operates as an industrial developer and currently has a land bank of 8.2mn sqm and a total of 280 factories (110 under construction) all worth EGP7bn.   
 
Elsewedy Electric: EGP233.71 as of 16 Apr. 2018, Rating: Buy, TP: EGP190.00/share, MCap: USD2,892mn, SWDY EY/SWDY.CA