ADEER forms strategic alliances with leading developers to enhance real estate landscape – Dailynewsegypt
ADEER International Egypt, a subsidiary of ADEER Holding Group and Sumou Holding, has announced three strategic partnerships with prominent Egyptian real estate developers: Hassan Allam Properties, Melee Development (a subsidiary of Al Ahly Sabbour), and Paragon Developments. These collaborations aim to enrich Egypt’s real estate sector and align with the National Strategic Urban Development Plan for Egypt 2052.
Bassel El Serafy, CEO of ADEER International Egypt, emphasized the value of these alliances: “By collaborating with these entities, we tap into their extensive expertise and innovative solutions. This synergy will not only shape ADEER’s future in Egypt but also enhance our initiatives across various domains, including real estate, sports, and community services. Through these partnerships, we aspire to deliver an unparalleled living experience that integrates comfort, sustainability, and innovation.”
During a recent press conference, ADEER International Egypt formalized a cooperation agreement with Hassan Allam Properties, a premier Egyptian real estate developer. Together, they will co-develop a mixed-use project in East Cairo, with an initial investment ranging from $100-150m. This partnership builds upon a memorandum of understanding signed earlier in 2024 and aims to boost investment opportunities in real estate development between Egypt and Saudi Arabia.
The second agreement was forged between ADEER International Egypt and Melee Development, a subsidiary of Al Ahly Sabbour Developments. This collaboration seeks to expand its presence in both the Egyptian and Saudi markets, addressing the growing demands of the real estate sector. Additionally, the partnership will introduce smart services for residents, including intelligent transportation systems and sustainable energy management, while leveraging innovative technological solutions for real estate project management.
In the final agreement, ADEER International Egypt joined forces with Paragon Developments to acquire a 230-feddan plot in New Cairo. This joint venture will develop a comprehensive real estate project, featuring diverse commercial spaces tailored to various preferences and an extensive range of services. The initial phase of the project will cover 60 acres, with projected sales expected to reach EGP 75bn.
These strategic alliances align with ADEER International Egypt’s ambitious expansion strategy in the real estate sector, as they collaborate with entities that have demonstrated exceptional success in urban development.