Ubayyid Industries was set up as Ubayyid Construction in 2004 by Mahmed El-Ubayyid, as a building contractor for resorts and hotels in Egypt. As the company grew by 2006 Ubayyid Hotels and Development was created, a subsidiary of Ubayyid Construction, created to manage Ubayyid Hotels. In 2006 MotaKun was set up personally by El-Ubayyid, claiming he wanted to bring new jobs and industry to the Port Said area. The company became known as Ubayyid Industries, and grew to be the second largest corporation in Egypt, until the buy-out of Egypts then largest company in 2010, the Orascom Group. It took over its assets from Construction and Hotel Management, aswell as IT Support.