A developer with big plans for expansion, Red Sea Housing specialises in building large-scale housing from prefabricated units used by oil and gas companies to house workers on gated compounds. Last month, it announced plans to spend over $500m on an eight-year growth strategy. This will include geographical expansion to cover markets in North and South America and Australasia, as well as developing an affordable housing model that can be used in any part of the world. The company also said it was planning to diversify into the building materials market.

Red Sea Housing said it would recruit experienced managers to deliver this growth, and would form subsidiary firms run by specialists. The company also has a 98% interest in a company based in Algeria and a 49% share of a business based in Qatar. It also has licenses to operate branches in Afghanistan and Equatorial Guinea.