Dubleuse, a leading real estate company, has announced the signing of a joint venture agreement with RIVA Development, a major Saudi Arabian firm, Invest-Gate reports.

The agreement, under the patronage of the Egyptian Embassy in Saudi Arabia, aims to foster collaboration between the two companies to develop diverse real estate projects in the Kingdom, with investments totaling SAR 2.5 bn over a span of 10 years.

The agreement was signed by Eng. Moaaz Wessam Al-Din, Chairman of Dubleuse, and Eng. Mugbel Al Thukair, Chairman of RIVA Development.

The signing ceremony was attended by Mr. Diaa Hamad, Deputy Ambassador of Egypt to Saudi Arabia, along with officials from both companies, including Mr. Ibrahim Moaaz Wessam Al-Din, Managing Director of Dubleuse, Dr. Jalal Sheikh, Director of Business Development at Dubleuse, and several prominent Saudi businessmen.

Mr. Diaa Hamad, Deputy Ambassador of Egypt to Saudi Arabia, praised the depth of Egyptian-Saudi relations, which enhance joint investment visions and promote the exchange of investments between the two countries. He assured the continuation of these strong relations, supported by the political leadership of both nations.

Eng. Moaaz Wessam, Chairman of Dubleuse, stated, “The company aims to leverage its experience to develop exemplary projects in Saudi Arabia with global specifications and standards, combining Egyptian and Saudi expertise to deliver a top-notch real estate product. This contributes to the Kingdom’s current development and growth plan. Therefore, we are collaborating with RIVA Development, a leading company known for developing distinctive projects.”

Eng. Mugbel Al Thukair, Chairman of RIVA Development, emphasized the importance of joint cooperation with Dubleuse, stating, “We are pleased to have reached an agreement with one of the distinguished real estate companies in the field of real estate development. We strive to work together and exchange expertise to provide diverse real estate projects that reflect the ongoing development in the Saudi real estate sector, in line with Vision 2030, aimed at achieving integrated urban development and attracting more real estate investments across various sectors within the Kingdom.”