Paragon | Adeer has announced the launch of “Sumou Boulevard,” a premier mixed-use development representing the first major investment by Sumou Holding in the Egyptian market through Adeer International. The official launch took place yesterday, Sunday, at the King Khufu Ship Museum within the Grand Egyptian Museum (GEM), attended by H.E. Dr. Sherif Farouk, Minister of Supply, alongside government officials, business leaders, and key regional investors, Invest-Gate reports.
Strategic Partnership Between Egypt and Saudi Arabia
The project serves as a pivotal milestone in economic cooperation between Egypt and Saudi Arabia. It brings together Adeer International—the investment and international arm of Sumou Holding—and Paragon Developments in Egypt to develop an integrated urban destination in New Cairo.
This partnership introduces a new model of urban development that merges regional investment expertise with deep local market insight. It reflects a broader vision for expansion within Egypt’s rapidly evolving urban landscape, as stated in the announcement issued on April 20.
Project Location and Investment Scale
Strategically located in the heart of Mostakbal City, New Cairo, the project spans over 500,000 square meters. It features a massive investment volume of EGP 70 billion, with expected revenues exceeding EGP 100 billion. The development offers an integrated mix of residential, commercial, hotel units, and retail outlets designed to meet the demands of modern living.
A New Urban Vision for City Life
Under the theme “Cairo’s Future,” Sumou Boulevard introduces a fresh vision for urban life through a mixed-use environment centered on an integrated living experience. As one of the first projects in the region to adopt the concept of “reshaping cities,” it features a vibrant 2km main promenade that redefines communities by placing people, culture, and sustainability at the core of its design.
Project Design and Components
The project is designed to seamlessly blend living, working, and entertainment. It includes branded hotel residences, global brands, office spaces, and independent headquarters, alongside hospitality and lifestyle-based retail components. The development rests on three main pillars: Quality of Life, Innovation, and Culture.
Statements from Sumou Holding
Abdulrahman Al-Qahtani, CEO of Sumou Holding, stated:“Egypt is one of the most promising investment destinations in the region, given its strong fundamentals and long-term growth potential. Sumou Boulevard represents a significant step in Adeer International’s regional expansion and a strategic investment in the future of Egypt’s urban development”.
Statements from Adeer International
Eng. Basel Al-Serafi, Global CEO of Adeer International, commented:“This project reflects the power of strategic partnerships in shaping the future of urban development. The cooperation between Egypt and Saudi Arabia combines global expertise with local knowledge to create a scalable platform for future projects in the region”.
Statements from Paragon | Adeer
Eng. Bedeir Rizk, CEO of Paragon | Adeer, stated:“Sumou Boulevard reflects a shared Egyptian-Saudi vision. We are not only introducing a new model for integrated development but also contributing to strengthening Egypt’s position as a regional hub for Foreign Direct Investment (FDI)”.
Launch of the AI Campus within the Project
On the sidelines of the event, Paragon | Adeer signed two strategic Memorandums of Understanding (MoUs) to launch an AI Campus within the project. The AI Campus is launched in partnership with Plug and Play as the official technology partner, marking the region’s first innovation ecosystem that integrates AI, education, and energy efficiency within a live urban environment.
The AI 100 Program and Innovation Partnerships
The first MoU involved Plug and Play and Schneider Electric, launching the AI 100 program. This four-year strategic initiative aims to select and develop 100 AI startups to form the institutional core of the AI Campus by 2030.
Strengthening Digital Infrastructure via Orange Egypt
The second MoU was signed with Plug and Play and Orange Egypt, reinforcing the role of the AI 100 program as a hub for digital connectivity and innovation within the project, ensuring a robust digital framework for future residents and businesses.
