Melee has announced the signing of a strategic alliance with Adeer International, one of the leading real estate companies in Saudi Arabia and a subsidiary of Adeer Holding Group and Sumou Holding, Invest-Gate reports.

The alliance aims to explore integration and partnership possibilities in the future, seeking common ground for the development of various real estate projects, including residential, commercial, administrative, hotel, and sports ventures, across Egypt and Saudi Arabia.

The announcement took place during a joint press conference held at the Four Seasons Cairo Hotel, where Gasser Bahgat, Chairman and CEO of Melee, and Bassel El Serafy, CEO of Adeer International, signed the alliance. The event was attended by top executives from both companies and several media figures.

Gasser Bahgat, Chairman and CEO of Melee, emphasized the significance of this alliance for both parties, stating, “We are proud to collaborate with Adeer International for the second time, marking a new milestone in our joint efforts to enhance the real estate industry in Egypt and Saudi Arabia. This alliance and partnership with a significant entity like Adeer International underscore the immense confidence in the ability of Egyptian companies, represented by Melee, to form major alliances and contribute to the development of large-scale projects.”

“Thanks to our extensive experience in the real estate field and comprehensive understanding of market requirements and needs, we hope this alliance will strengthen cooperation between Egyptian and Saudi businesses and support Egypt’s plan to attract more foreign direct investments, thereby boosting the Egyptian economy by increasing the inflow of hard currency,” Bahgat added.

Bassel El Serafy, CEO of Adeer International, expressed his optimism about the alliance and partnership, stating, “Our collaboration with Melee is a testament to our ongoing commitment to excellence and innovation in the real estate sector. We are confident in our ability to create competitive real estate projects locally and globally across Egypt and the Kingdom, leveraging the mutual understanding between the two parties and striving to provide diverse real estate products capable of achieving significant investment returns.”