{"id":600610,"date":"2019-02-04T03:40:50","date_gmt":"2019-02-04T03:40:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/04\/amr-allam-co-ceo-hassan-allam-holding\/"},"modified":"2019-02-04T03:40:50","modified_gmt":"2019-02-04T03:40:50","slug":"amr-allam-co-ceo-hassan-allam-holding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/04\/amr-allam-co-ceo-hassan-allam-holding\/","title":{"rendered":"Amr Allam \u2014 Co-CEO, Hassan Allam Holding"},"content":{"rendered":"

<\/a> Amr Allam carries on the long tradition of his family business<\/b>, which traces its roots to 1936. The construction and engineering group is a storied Egyptian contractor with a regional footprint and has a proven track record delivering large, complex projects. It is among the largest privately held groups in the MENA region, with well over 30k employees. Today, Hassan Allam Holding has subsidiaries in Algeria and Saudi Arabia and is moving into new sectors including power, renewable energy and water through its new Hassan Allam Utilities arm (see this morning\u2019s Speed Round, above). Hassan Allam Holding (website<\/a> | LinkedIn<\/a>) also acquired last year PGESCo<\/a>, the international engineering and project management firm focused on energy and infrastructure projects.<\/p>\n

2018 was a transformational year for Hassan Allam Holding<\/b> in terms of diversifying our offering and providing our clients with a one-stop-shop for engineering, procurement and construction services and solutions on a regional scale.<\/p>\n

2019 for us will be a year in which we focus on efficiency and expanding<\/b> our infrastructure development arm while also zeroing in on utilities and renewable energy.<\/p>\n

Managing cashflows will be the biggest challenge in 2019.<\/b> Our business is growing substantially, so managing our cash flows and matching our operational expenditure with our clients\u2019 needs will be a significant focus for management in 2019.<\/p>\n

Opportunity-wise,<\/b> I feel this is the year of industrialization for Egypt.<\/b> The private sector will start kicking in and we have to capitalize on that. I think we\u2019re well-positioned to be a relevant player in capturing new work from the private sector.<\/p>\n

The performance of the wider economy in 2019 will be similar to 2018<\/b>, but I see private sector players pushing forward. They\u2019ve been watching from afar and the opportunity exists today, the infrastructure is there, and the investment climate is there. I think it\u2019s time for them to step up and I think we\u2019re going to see more of that.<\/p>\n

There\u2019s a need for a more robust regulatory framework in the utilities space to help with the penetration of private sector investors.<\/b> I think this is something that the private sector \u2014 and not just the government \u2014 needs to be involved in. I think the developmental finance institutions \u2014 the IFCs and the EBRDs of the world \u2014 need to be involved in this to pass on their know-how, whether it\u2019s in the form of PPAs or WPAs.<\/p>\n

Our 2019 budget set 15-20% salary increases.<\/b> This is in line with inflation and it\u2019s where we\u2019re going to start our exercise. We always align raises with performance and we\u2019ve been doing well.<\/p>\n

Absolutely our business been constrained by high interest rates<\/b>. As I said earlier working capital is the name of our game and elevated interest rates have compressed our operating margins, without a doubt. I don\u2019t see interest rate cuts in first half, perhaps towards the second half. We\u2019d love to see the downward trend kicking in.<\/p>\n

We will invest whether interest rates go up or down.<\/b> We\u2019re investing in enhancing our core activity, in building materials, and of course we\u2019re investing in our new utilities business. If the rates come down, I think we\u2019ll be a lot more aggressive with our plan. But in all cases, we will continue to invest in our core businesses.<\/p>\n

Inflation was not as much of an issue in 2018<\/b> as much as it was in 2017 but it was still an issue. <\/b>We were able to mitigate that risk with certain clauses that we placed in our contracts \u2014 escalation clauses and such \u2014 so the impact was not as great. Again, you had certain aspects that were problematic, but nothing too major.<\/p>\n

For M&A, we are looking at two or three acquisitions that we\u2019re going to close during the first half of 2019.<\/b> In terms of capital markets, given what\u2019s happening today, I can\u2019t tell you I see it as a good time for IPOs, but I don\u2019t have a final say on that yet.<\/p>\n

We\u2019re investing in infrastructure development and utilities.<\/b> I believe greenfield activities will play a large role in that. I think there will be a shift from the government towards pushing the private sector to invest further in infrastructure assets. So this is an area that we\u2019ll be focusing on in 2019.<\/p>\n

I think oil and gas is a sector that will probably outperform in 2019<\/b>, and I think services in general, including construction, will have a good year.<\/p>\n

Residential real estate will underperform this year.<\/b> I think there will be a slowdown on that front.<\/p>\n

Egypt is much more diversified as an economy than others in the region: <\/b>\u00a0Outside of Egypt, we operate in Algeria and Saudi Arabia and their economies are based on oil prices; if there\u2019s a downturn in oil prices, you see a slowdown. If there\u2019s an upward trend, you tend to see a bit more of an uptick. Egypt is not like that \u2014 Egypt is diversified and we prefer operating in economies like Egypt given this element. Other countries are a bit more volatile given the fluctuation in oil prices, particularly in the last couple of years.<\/p>\n

Finding the right talent in a very competitive market is the biggest issue in our industry.<\/b> It\u2019s hard to find good people, but we\u2019ve been fortunate. In general this has been our toughest challenge.<\/p>\n

The most common question I get from business partners, co-investors and the like is: How are we managing our margins and working capital?<\/b> That is a very big concern. Ours is a cash-driven business, and managing working capital affects margins, so these are the two key concerns we have.<\/p>\n

What have you not asked me?<\/b> You\u2019ve asked too much.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amr Allam carries on the long tradition of his family business, which traces its roots to 1936. The construction and engineering group is a storied Egyptian contractor with a regional footprint and has a proven track record delivering large, complex projects. It is among the largest privately held groups in the MENA region, with well […]<\/p>\n","protected":false},"author":1,"featured_media":600611,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11357],"tags":[72,8553,11356],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-enterprise-ceo-poll","tag-enterpriseam","tag-hassan-allam-construction","tag-the-enterprise-ceo-poll","wpautop","entry"],"acf":{"mongo_id":"d9efaa6c-3325-49ef-a26a-6a114043588f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/2\/207.jpg","photo_position":"above","related_issue":[600585],"teaser":"","voice_url":""},"yoast_head":"\nAmr Allam \u2014 Co-CEO, Hassan Allam Holding - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/04\/amr-allam-co-ceo-hassan-allam-holding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amr Allam \u2014 Co-CEO, Hassan Allam Holding\" \/>\n<meta property=\"og:description\" content=\"Amr Allam carries on the long tradition of his family business, which traces its roots to 1936. 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Through the partnership, Hassan Allam will sponsor MBA programs for 40 of its employees along with 10 other Egyptians at\u2026","rel":"","context":"In "Health + Education"","block_context":{"text":"Health + Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/health-education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":616408,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/05\/hassan-allam-group-sets-up-regional-hq-in-saudi-arabia\/","url_meta":{"origin":600610,"position":1},"title":"Hassan Allam Group sets up regional HQ in Saudi Arabia","author":"enterpriseam admin","date":"5 March 2024","format":false,"excerpt":"The new HQ will monitor the group\u2019s international operations","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/321.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550336,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/24\/hassan-allam-latest-to-target-green-investment-in-morocco\/","url_meta":{"origin":600610,"position":2},"title":"Hassan Allam latest to target green investment in Morocco","author":"enterpriseam admin","date":"24 October 2022","format":false,"excerpt":"Hassan Allam eyes renewables, desalination projects in Morocco: Our friends at Hassan Allam Holding are mulling investing in renewable energy and desalination projects in Morocco, and could deploy an initial USD 50-150 mn within the next year, CEO Amr Allam told Bloomberg Asharq on the sidelines of the Africa Business\u2026","rel":"","context":"In "GREEN ENERGY"","block_context":{"text":"GREEN ENERGY","link":"https:\/\/enterpriseam.com\/egypt\/category\/green-energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/311.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":676030,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/23\/auc-appoints-hassan-allam-to-its-board-of-trustees\/","url_meta":{"origin":600610,"position":3},"title":"AUC appoints Hassan Allam to its board of trustees","author":"enterpriseam admin","date":"23 November 2025","format":false,"excerpt":"The American University in Cairo (AUC) elected Hassan Allam Holding CEO Hassan Allam to its board of trustees, according to a statement (pdf) from the university. Allam is an AUC civil engineering graduate with extensive experience in engineering, construction, and large-scale development projects across the region and globally. (Tap or\u2026","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1696.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593050,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/17\/hassan-allam-signs-usd-20-mn-loan-with-ebrd-for-investments-in-egypts-water-wastewater-sector\/","url_meta":{"origin":600610,"position":4},"title":"Hassan Allam signs USD 20 mn loan with EBRD for investments in Egypt\u2019s water, wastewater sector","author":"enterpriseam admin","date":"17 November 2019","format":false,"excerpt":"Hassan Allam signs USD 20 mn loan with EBRD for water, wastewater investments: The European Bank for Reconstruction and Development (EBRD) and Hassan Allam Holding signed on Thursday a USD 20 mn loan agreement for the construction firm to expand its investments in Egypt\u2019s water and wastewater treatment sector, according\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/11\/1888.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":694068,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/16\/hassan-allam-holding-expands-water-portfolio-with-metipro-acquisition\/","url_meta":{"origin":600610,"position":5},"title":"Hassan Allam Holding expands water portfolio with MetiPro acquisition","author":"enterpriseam admin","date":"16 April 2026","format":false,"excerpt":"The move aims to establish an integrated platform for wastewater projects in the region.","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/887.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=600610"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600610\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/600585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/600611"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=600610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=600610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=600610"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=600610"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=600610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}