Akam Al Rajhi Developments, an Egyptian-Saudi company, celebrated the opening of its new branch in Riyadh, Invest-Gate reports.

The event was attended by Eng. Abdulwahab Al Rajhi, founder and strategic partner of Akam Al Rajhi Developments; Eng. Essam Mansour, Chairman; Edrees Mohamed, CEO; Eng. Hisham Kandeel; and Eng. Saad Al Ghaithi, Board Members, along with a group of prominent Saudi figures and businessmen.

This expansion is part of the company’s strategy to grow locally and regionally in the most attractive Arab markets, particularly Saudi Arabia, which is currently experiencing an unprecedented economic and urban boom.

In an official statement, the company announced that the new branch will be headquartered in Riyadh to explore investment opportunities in the Saudi market, considered one of the most promising markets for comprehensive urban development and growth, in line with the Kingdom’s Vision 2030 plan for sustainable development.

The statement emphasized that the new branch is a crucial step that reflects confidence in the strength and vitality of the real estate market in Saudi Arabia. Its goal is to provide urban communities that foster well-being, prosperity, and a healthy lifestyle for citizens.

The Saudi branch will focus on researching available investment opportunities to implement a number of integrated urban projects within the Kingdom in the coming period, continuing the company’s distinguished role in real estate development.

It aims to execute several integrated urban projects, including residential, tourism, hotel, administrative, and commercial developments over the next five years, both in Egypt and Saudi Arabia, while also marketing its projects within the Saudi market.

The statement highlighted that the partnership with the Egyptian side reflects the strong ties between the Saudi and Egyptian peoples and aligns with the aspirations of both countries in the 2030 sustainable development agenda.

It noted that the urban expansion currently underway in Saudi Arabia requires distinctive real estate projects, and the Egyptian experience in this sector serves as an exemplary model that benefits both parties.

The company’s goal in the coming period is to bring about a significant change in the concept of smart and vibrant urban communities, delivering a superior development experience in the real estate sector in the Kingdom.

Additionally, the company is currently implementing an innovative tourism project on Egypt’s North Coast, known as the D.O.S.E project, which features some of the most beautiful beaches in the world. The new branch in Saudi Arabia will further the company’s strategic plan to thoughtfully explore available opportunities in the Saudi market for regional expansion.