ADEER International Egypt, a subsidiary of ADEER Holding Group and Sumou Holding, unveils three pivotal strategic alliances with prominent Egyptian real estate developers: Hassan Allam Properties, Melee Development, a subsidiary of Al Ahly Sabbour, and Paragon Developments, Invest-Gate reports.

These partnerships are not just significant, but they are set to revolutionize Egypt’s real estate sector and align with the National Strategic Urban Development Plan for Egypt 2052, promising a bright future for the industry.

At the press conference, key figures in attendance included Dr. Ayedh Al-Qahtani, Chairman of Sumou Holding; Mr. Mohamed Allam, CEO of Hassan Allam Properties; Eng. Bassel El Serafy, CEO of ADEER International Egypt; Mr. Gasser Bahgat, Chairman and CEO of Melee Development; and Eng. Bedeir Rizk, CEO of Paragon Developments.

Moreover, El Serafy commented, “These partnerships mark a transformative milestone driven by our group’s robust confidence in Egypt’s real estate sector. It represents a critical step in realizing our vision of constructing innovative and sustainable communities. Collaborating with esteemed entities such as Hassan Allam Properties, Melee Development, and Paragon Developments enables us to harness their extensive expertise and pioneering solutions.”

Furthermore, during the event, ADEER International Egypt formalized a cooperation agreement with Hassan Allam Properties to co-develop a substantial mixed-use project in East Cairo, with an initial investment of $100-150 mn. This partnership follows a memorandum of understanding signed earlier in 2024 and signifies the beginning of a promising mega project that will significantly impact the real estate landscape.

Also, the second agreement was established between ADEER International Egypt and Melee Development, focusing on expanding to both the Egyptian and Saudi markets to meet the growing needs of the real estate sector. The collaboration aims to create sustainable and healthy living spaces, incorporating green areas and public amenities.

Over and above that, in the final agreement, ADEER International Egypt partnered with Paragon Developments to acquire a 230-feddans plot in New Cairo. This joint venture will develop a comprehensive real estate project featuring diverse commercial spaces and extensive services. The project’s initial phase will develop 60 feddans, with projected sales expected to reach EGP 75 bn.

Notably, these strategic alliances significantly advance ADEER’s initiatives across various domains, including real estate, sports, and community services.