{"id":653826,"date":"2024-10-23T00:00:00","date_gmt":"2024-10-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo\/"},"modified":"2024-10-23T00:00:00","modified_gmt":"2024-10-23T00:00:00","slug":"saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo\/","title":{"rendered":"Saudi real estate firm swaps land in Matrouh for plots near New Cairo"},"content":{"rendered":"

Privately<\/strong>-owned Saudi real estate firm Samla and Alm El Room Urban Development Co. will swap nearly 950 acres of land in Matrouh\u2019s Alm El Room<\/strong> for two plots of land in and near New Cairo after inking an agreement with the Housing Ministry, according to a ministry statement<\/a>.<\/p>\n

Why does it matter?<\/strong> It\u2019s the latest sign that the government of Egypt is serious about doing business with Saudi companies. The contract signing comes after Crown Prince and Prime Minister Mohamed bin Salman\u2019s surprise visit to Cairo last week to meet with President Abdel Fattah El Sisi. Among other things, the two signed an agreement<\/a> on the promotion and protection of investment.<\/p>\n

What\u2019s Samla and Alm El Room getting? <\/strong>The company will take 97 acres near Madinaty and another 380 acres near the Katameya-Ain Sokhna road. Walid Abbas, assistant housing minister and supervisor of planning and projects at NUCA, was on hand for the signing, framing it in the context of Egypt\u2019s bid to resolve outstanding disputes and roll out the red carpet for investors.<\/p>\n

ADVISORS- <\/strong>Our friends at ALC-Alieldean Weshahi & Partners ALC were advisors to Samla and Alm El Room on the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

This is the latest sign that the government of Egypt is serious about doing business with Saudi companies<\/p>\n","protected":false},"author":1,"featured_media":653827,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7371],"tags":[72,83,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-653826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-enterpriseam","tag-real-estate","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"51575b40-f858-4094-9497-abd1965be6b8","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1987.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi real estate firm swaps land on Egypt\u2019s Matrouh for plots near New Cairo","related_issue":[653814],"teaser":"This is the latest sign that the government of Egypt is serious about doing business with Saudi companies","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.0864269d-4cc5-4e56-9fe0-4ad539ee5d58.mp3"},"yoast_head":"\nSaudi real estate firm swaps land in Matrouh for plots near New Cairo - 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Heliopolis Housing and Development (HHD) has denied reports in the local media that Saudi real estate developer Alameriah is offering to buy a 70% stake in the company for USD 400 mn, Asharq Business reports. HHD said it hadn\u2019t received any\u2026","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/401.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593833,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/10\/nuca-offers-land-plots-worth-egp-35-5-bn-to-investors\/","url_meta":{"origin":653826,"position":1},"title":"NUCA offers land plots worth EGP 35.5 bn to investors","author":"enterpriseam admin","date":"10 October 2019","format":false,"excerpt":"The New Urban Communities Authority (NUCA) has tendered 26 mixed-use land plots worth EGP 35.5 bn in Sixth of October, Sheikh Zayed, New Cairo, and El Shorouk and Sadat cities under a new land tender mechanism, Housing Ministry sources told the press. In related news: NUCA has granted Al Arabia\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596323,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/25\/egypts-nuca-offers-9-land-plots-in-new-cairo-to-developers\/","url_meta":{"origin":653826,"position":2},"title":"Egypt\u2019s NUCA offers 9 land plots in New Cairo to developers","author":"enterpriseam admin","date":"25 August 2019","format":false,"excerpt":"The New Urban Communities Authority (NUCA) is tendering nine land plots comprising around 1k feddans in New Cairo to developers, unnamed officials at the authority told the local press. 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The ruling \u2014 which accepted a case filed by Shahid\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651967,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/26\/egyptian-real-estate-companies-withdraw-from-saudi-projects\/","url_meta":{"origin":653826,"position":4},"title":"Egyptian real estate companies withdraw from Saudi projects","author":"enterpriseam admin","date":"26 February 2017","format":false,"excerpt":"Rift between Saudi Arabia and Egypt remains, even if diplomats say everything is okay: Egyptian real estate companies have halted projects that were set to be implemented in Saudi Arabia, according to Reuters. Talaat Moustafa Group (TMG), Al Ahly for Real Estate Development, Orbit Alliance, and Misr-Italia Group had all\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":639593,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/polaris-parks-is-set-to-invest-egp-5-bn-in-new-industrial-complexes-plus-news-from-saudi-drilling-exploration-jade-textile-eehc\/","url_meta":{"origin":653826,"position":5},"title":"Polaris Parks is set to invest EGP 5 bn in new industrial complexes. PLUS: News from Saudi Drilling & Exploration, Jade Textile, EEHC","author":"enterpriseam admin","date":"12 August 2024","format":false,"excerpt":"The company is waiting for five plots to be allocated","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/924.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/653826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=653826"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/653826\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/653814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/653827"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=653826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=653826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=653826"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=653826"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=653826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}