K Developments has announced a strategic partnership with Planning Contracting and Real Estate Development, marking a new phase in its regional expansion, Invest-Gate reports.

The partnership aims to jointly develop real estate projects in Makkah and Jeddah in the coming period.

The signing ceremony took place at the Westin Hotel in New Cairo, attended by K Developments Chairman Eng. Omar El Fayoumy, Planning Company Chairman Dr. Yasser Abul Saud, and executives from both companies.

Omar El Fayoumy stated that the collaboration aligns with K Developments’ strategy to build high-impact alliances with established players in the real estate sector. He noted that Saudi Arabia was chosen not just for investment potential, but due to a firm belief in the kingdom’s fast-evolving market and comprehensive development vision. “Our focus in the upcoming phase will be on delivering innovative projects tailored to the Saudi market,” he said, adding that the company aims to introduce a distinctive model in quality, architecture, and services.

K Developments CEO Eng. Ahmed El Fayoumy said the partnership signals a deliberate step in the company’s international growth strategy. “Entering the Saudi real estate market is a pivotal milestone for us. It reflects our ambition to bring transformational value to the sector through expertise, innovation, and global standards,” he said, adding that the move also reinforces Egyptian-Saudi ties in real estate and investment.

Dr. Yasser Abul Saud expressed pride in the partnership, describing it as a pathway to pioneering projects with Saudi character and international standards.