Raya Holding was founded in 1999 through the merger of seven national IT companies. It currently operates in different areas, including IT, consumer electronics and home appliances trading, data center outsourcing services, and smart buildings, among other sectors. In December 2023, the company signed an agreement to acquire a 27.69% stake in the Ostool for Land Transport Company, raising its stake to 90% of the company. In July 2023, it issued a securitization bond with a total value of $27.7 million. The investment conglomerate has 38 subsidiaries across Egypt, Saudi Arabia, the U.A.E., Bahrain, Poland, and Nigeria.