Akam Developments and Al Rajhi Saudi Group launch Akam AlRajhi Developments, in the presence of a number of officials in the Saudi government and the Egyptian government, Invest-Gate reports.

Launching the new company comes in accordance with the huge urban development that Egypt is currently seeing, which makes it the most attractive for investments.

The step also emphasizes the strength and the great performance of the Egyptian economy and its ability to attract more foreign and Arab investments.

In this regard, Abdulwahab Saleh Al Rajhi, chairman of Al Rajhi Saudi Group, expresses his pleasure to be in his second home, Egypt, and his new partnership with Akam Developments.

“This new partnership aims to expand the group’s investments in Egypt, in light of the available opportunities in the Egyptian market, especially the real estate sector, which sees a huge boom in major projects such as the NAC and smart cities that are being implemented in various parts of Egypt, supported by the great development in infrastructure,” Abdulwahab states.

Also, Abdulwahab praises the innovations and ambitious vision of Akam Developments, which fits Al Rajhi Group’s strategy and future goals, pointing out that Akam deals with real estate and urban construction in a very innovative and philosophic way, depending on converting buildings into a community riddled with life and happiness, as well as being comfy for its residents.

On the other hand, Essam Mansour, chairman of Akam Developments, expresses his pleasure with this partnership, which will implement projects that meet the clients’ needs.

“The partnership with Al Rajhi Saudi Group and the launch of Akam AlRajhi Developments is a great step in the Egyptian market and an important new stage for the two companies,” Mansour says.

He further notes that Akam relies on its strategy on an accurate study of the reality and developments of the Egyptian market and designing and implementing unique projects. This strategy is based on identifying problems and developing solutions before planning any project, and this is the key to this success.

Mansour points out that his company relies on offering a real estate product that the Egyptian market has never known before, keeping pace with the new shift and the urban renaissance supported by the Egyptian government.

Additionally, Edrees Mohamed, managing director of Akam and CEO of Akam AlRajhi, refers to the importance of this partnership and its role in implementing new projects that meet the clients’ needs as an important part of the company’s vision.