{"id":659328,"date":"2025-01-26T00:00:00","date_gmt":"2025-01-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/26\/hassan-allam-properties-midar-partner-with-saudis-sumou-for-cairo-hotel-and-entertainment-projects-totalling-usd-2-bn\/"},"modified":"2025-01-26T00:00:00","modified_gmt":"2025-01-26T00:00:00","slug":"hassan-allam-properties-midar-partner-with-saudis-sumou-for-cairo-hotel-and-entertainment-projects-totalling-usd-2-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/26\/hassan-allam-properties-midar-partner-with-saudis-sumou-for-cairo-hotel-and-entertainment-projects-totalling-usd-2-bn\/","title":{"rendered":"Hassan Allam Properties, Midar partner with Saudi\u2019s Sumou for Cairo hotel and entertainment projects totalling USD 2 bn"},"content":{"rendered":"

Egyptian-Saudi partnership readies USD 2 bn investment: <\/strong> Egypt\u2019s Hassan Allam Properties and Midar Investment and Urban Development inked an MoU with Saudi Arabia\u2019s Sumou Investment, and its subsidiary Adeer International, to invest USD 2 bn in hospitality and leisure projects along the Nile in Cairo or within Midar developed cities, Midar said in a statement a statement<\/a>(p<\/a>df)<\/a>.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

This isn\u2019t the first time Hassan Allam Properties and Somou have worked together: <\/strong>Sumou Holding inked an MoU in March last<\/a>year<\/a> with Hassan Allam Properties to set up a JV to open up cross-border investments for companies in Saudi Arabia and Egypt and to share expertise. And in July, the two companies inked an agreement<\/a> to develop a mixed-use development in the east of Cairo with an initial investment of USD 100-150 mn.<\/p>\n

Adeer has big plans for Egypt:<\/strong> The Sumou subsidiary plans to invest USD 400 mn in the Egyptian real estate sector over the next five years, CEO Bassel El Serafy said in July<\/a>. Included in these plans is a mixed-use development in the eastern part of Cairo<\/a> with Egyptian real estate developer Paragon Developments and the acquisition of half of Egyptian developer Melee Development.

<\/font>A note from the editor: <\/span>The story has been amended on 26 January 2025, as an earlier version of it incorrectly referred to Hassan Allam Properties as the real estate arm of Hassan Allam Holding. Hassan Allam Properties is a sister company of Hassan Allam Holding and has a separate legal entity and shareholding structure.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

The investment targets hospitality and leisure projects<\/p>\n","protected":false},"author":1,"featured_media":659329,"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":[1],"tags":[72,3046,955,7320,7423],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-659328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-enterpriseam","tag-hassan-allam-properties","tag-hospitality","tag-midar","tag-sumou-holding","wpautop","entry"],"acf":{"mongo_id":"a58c6ae3-31e1-4099-8ee9-d16380d2db97","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/1764.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Hassan Allam Properties, Midar partner with Saudi\u2019s Sumou for Cairo hotel and entertainment projects totalling USD 2 bn","related_issue":[659320],"teaser":"The investment targets hospitality and leisure projects","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.ec884155-f965-40ae-b0f9-4e4f408c7459.mp3"},"yoast_head":"\nHassan Allam Properties, Midar partner with Saudi\u2019s Sumou for Cairo hotel and entertainment projects totalling USD 2 bn - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/01\/26\/hassan-allam-properties-midar-partner-with-saudis-sumou-for-cairo-hotel-and-entertainment-projects-totalling-usd-2-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hassan Allam Properties, Midar 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Holding and its subsidiary Adeer International and local players Midar and Hassan Allam","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/9\/1082.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":673441,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/13\/midar-in-takeover-talks-with-saudi-investor-sumou\/","url_meta":{"origin":659328,"position":1},"title":"Midar in takeover talks with Saudi investor Sumou","author":"enterpriseam admin","date":"13 October 2025","format":false,"excerpt":"Sumou announced in September it plans to invest SAR 2 bn in Egypt in the next five years","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A 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Welcome to the start of a fresh new workweek \u2014 we hope your first day back after a long weekend hasn\u2019t been too jarring.THE BIG STORY TODAY- Midar Investment and Urban Development is in preliminary discussions with Saudi real estate investor Sumou Holding over a potential acquisition,\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/545.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616408,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/05\/hassan-allam-group-sets-up-regional-hq-in-saudi-arabia\/","url_meta":{"origin":659328,"position":3},"title":"Hassan Allam Group sets up regional HQ in Saudi Arabia","author":"enterpriseam admin","date":"5 March 2024","format":false,"excerpt":"The new HQ will monitor the group\u2019s international operations","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/321.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":662198,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/12\/another-hassan-allam-subsidiary-secures-neom-contract\/","url_meta":{"origin":659328,"position":4},"title":"Another Hassan Allam subsidiary secures Neom contract","author":"enterpriseam admin","date":"12 March 2025","format":false,"excerpt":"PLUS- Finance in Motion plans to invest USD 100 mn in Egypt this year","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\/2025\/3\/887.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632007,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/09\/adeer-to-set-up-mixed-use-development-in-east-cairo-alongside-paragon\/","url_meta":{"origin":659328,"position":5},"title":"Adeer to set up mixed-use development in East Cairo alongside Paragon","author":"enterpriseam admin","date":"9 July 2024","format":false,"excerpt":"The Saudi real estate developer has plans to partner with Egyptian companies on projects in Egypt and Saudi","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\/2024\/7\/659.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\/659328","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=659328"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/659328\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/659320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/659329"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=659328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=659328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=659328"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=659328"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=659328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}