Mohamed El-Taher, CEO of Saudi Egyptian Developers, uncovers that the company submitted, in alliance with the Emirati Al Shafar Contracting, an official offer to develop a plot for (Al Manhal) National Party in Tahrir Square in the Nile Corniche, Invest-Gate reports.

El-Taher clarifies that the alliance with Al Shafar comes within the company’s expansion plans in the Egyptian market.

“Once the sovereign fund announced the offering of the plot to investors, we submitted the offer and now the fund is studying the submitted offers,” El-Taher states.

During the coming period, the company will focus on tourism real estate projects in order to support the state’s efforts in the tourism sector. The company will also attract more foreign currency, by offering tourism real estate projects with the highest global quality standards.

Saudi Egyptian Developers was established in 1975, under an international agreement between the Egyptian government represented by the Ministry of Housing and the Utilities and Urban Communities Authority, and the Saudi government represented by the Ministry of Finance. The company has a leading position in the Egyptian market.