K Developments has signed a strategic partnership agreement with Planning Contracting and Real Estate Development Company, a leading Saudi construction company, marking a step forward in its regional expansion efforts and investment in international real estate markets, Invest-Gate reports.

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

The partnership will focus on executing a series of construction and real estate development projects in Mecca and Jeddah in the coming period.

“This agreement marks the beginning of a series of future international successes,” said Ahmed El Fayoumy, CEO of K Developments. He noted that the move aligns with the company’s vision to expand beyond Egypt and tap into promising markets—particularly Saudi Arabia, which he described as a strategic partner.

He added that the partnership supports Egypt’s broader direction to strengthen ties with Saudi Arabia, especially in the real estate development sector.

Dr. Yasser Abul Saud expressed his enthusiasm for the collaboration, describing it as an opportunity to invest in and develop pioneering real estate projects in the Kingdom. “Our goal is to deliver developments that meet global standards with a Saudi identity,” he said. He added that the alliance stems from a shared vision between the two companies and reflects both countries’ mutual ambition to lead regional business development.