Condor Group, led by Algerian businessman Abderrahmane Benhamadi, has formally launched its model in Egypt, marking a serious step within the firm’s regional growth. The launch, a part of a $1 billion funding plan, alerts Condor’s give attention to partnerships, native manufacturing, and long-term development fairly than relying solely on exports.
Condor expands Egypt manufacturing plans
The announcement was made throughout a high-level occasion attended by Algerian parliamentary and diplomatic officers, alongside Egyptian trade leaders, distributors, and stakeholders within the air-conditioning sector. Mohamed Saleh Daas, vice chairperson of Condor Group, described Egypt as a key marketplace for the corporate’s technique, noting it serves each as a considerable client base and a gateway to broader Center Japanese and African markets.
Daas stated the group had signed a number of distribution and partnership agreements to determine an enduring presence in Egypt. “Our strategy rests on three principal pillars: constructing a trusted model, offering dependable after-sales companies, and investing in native manufacturing,” he stated. Condor plans to determine a manufacturing base in Egypt for televisions, fridges and air conditioners. That is anticipated to create jobs, develop native abilities and strengthen industrial capability. Native manufacturing is scheduled to start by 2027, profiting from the logistical proximity between Algeria and Egypt.
Eurovent-certified models increase regional presence
Condor Group spans 32 corporations throughout 12 industrial sectors and employs greater than 17,000 folks. Its operations generate annual revenues exceeding $1.5 billion and account for almost half of Algeria’s exports of family home equipment. Condor merchandise, together with TVs, smartphones, computer systems, dwelling home equipment, and photo voltaic panels, are produced beneath Condor Electronics, a unit that has change into a family identify in Algeria and different markets.
The corporate lately opened Africa’s largest air-conditioning manufacturing facility in partnership with Hisense, producing as much as two million models yearly. That is a part of a five-year, $1 billion plan to broaden international manufacturing capability to 10 million models yearly and enter 35 worldwide markets. The models bought in Egypt are Eurovent-certified and designed to carry out effectively beneath variable energy situations. With this launch, Condor goals to mix aggressive pricing with worldwide requirements, reinforcing its presence in North Africa and lengthening its attain throughout the Center East and Africa.
