In a new effort to enhance Egyptian-Saudi cooperation, Melee Company has signed a memorandum of understanding (MoU) with Adeer Holding, affiliated with Sumou Holding, to establish a new company focused on developing, equipping, and managing social sports clubs in the Kingdom of Saudi Arabia, Invest-Gate reports.

This collaboration aims to facilitate the exchange of experiences and investments between the Egyptian market, the Saudi market, and global markets. Melee Company brings its expertise in managing and operating social and entertainment clubs to support this venture.

The agreement was signed by Gasser Bahgat, Chairman of Melee, and Saeed Al Nahdi, Managing Director of Adeer Holding.

According to the MoU, the newly established company will be responsible for developing, equipping, and managing a group of social sports clubs throughout Saudi Arabia. These clubs will be the first of their kind in the Kingdom, offering social sports and recreational activities, including a specialization in equestrianism.

Melee, as the first Egyptian company to develop this type of club outside Egypt, aims to meet the growing demand for high-quality entertainment facilities and promote a healthy lifestyle for Saudi citizens.

Gasser Bahgat expressed his pleasure in collaborating with Adeer Holding, one of the largest investment entities in Saudi Arabia’s real estate industry. He emphasized that the partnership will leverage the strengths and resources of both companies to create exceptional social sports clubs.

Bahgat hopes that this step marks the beginning of a series of joint cooperations and real contributions to supporting the sustainable development process initiated by both Egypt and Saudi Arabia, aiming to achieve their goals by 2050.

Saeed Al Nahdi expressed enthusiasm for the collaboration, emphasizing their commitment to creating innovative and sustainable communities aligned with the Kingdom’s Vision 2030.