{"id":668916,"date":"2025-07-23T00:00:00","date_gmt":"2025-07-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/23\/a-new-egyptian-saudi-egp-70-bn-real-estate-project\/"},"modified":"2025-07-23T00:00:00","modified_gmt":"2025-07-23T00:00:00","slug":"a-new-egyptian-saudi-egp-70-bn-real-estate-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/23\/a-new-egyptian-saudi-egp-70-bn-real-estate-project\/","title":{"rendered":"A new Egyptian-Saudi EGP 70 bn real estate project"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Paragon, Adeer to develop EGP 70 bn mixed-use development in New Cairo: <\/strong>Local property developer Paragon Developments and Saudi Arabia\u2019s Adeer International \u2014 a subsidiary of Sumou Holding \u2014 have launched a joint development entity, which will work with Midar to develop a EGP 70 bn mixed-use project in New Cairo\u2019s Mostakbal City, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1466.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1466.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The 500k sqm development will feature commercial, administrative, and hospitality components, and is being positioned as a smart, sustainable urban hub.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Somou\u2019s first real estate investment fund in Egypt: <\/strong>Sumou Holding is looking to launch a USD 1 bn real estate fund in Egypt by late 2025 or early 2026, Chairman Ayedh Al Qahtani told <a target=\"_blank\" href=\"https:\/\/x.com\/AlArabiyaBN_EG\/status\/1947693784814260265\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> adding more color to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59509f27-e0b4-48e4-a471-0bc6758f7920\/bonyan-makes-its-trading-debut-on-the-egx-today\" style=\"\" rel=\"noopener\">comments he made to Prime Minister Moustafa Madbouly<\/a> earlier this week. The company has been in talks with the EGX for nearly two years on regulatory changes that would make it easier for foreign and local developers to establish such funds. Al Qahtani expects Saudi investors to make up 30-40% of the fund\u2019s investor base, with the rest split between Egyptians and other foreign players.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Swiss, French players eye therapeutic nutrition manufacturing in Egypt:<\/strong> The Health Ministry is in talks with Switzerland-based clinical nutrition firm <a target=\"_blank\" href=\"https:\/\/www.medifoodinternational.com\/about-medifood\/\" style=\"\" rel=\"noopener\">Medifood<\/a> and French infant baby formula maker <a target=\"_blank\" href=\"https:\/\/www.modilac.com\/\" style=\"\" rel=\"noopener\">Modilac<\/a> to locally manufacture clinical nutrition products targeting disease-related malnutrition, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1289388416564909?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. The proposed joint venture would establish Egyptian-Swiss-French production lines to serve the local and regional markets with clinical nutrition formulas for patients with conditions including kidney diseases, liver diseases, diabetes, and respiratory illnesses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>K<\/strong><strong>ufpec Egypt, Shel<\/strong><strong>l sign off on Mina West gas development:<\/strong> Kuwait Foreign Petroleum Exploration Company\u2019s (Kufpec) Egypt arm and Shell have reached a final investment decision to develop the Mina West gas discovery in the North East El Amriya concession in the Mediterranean, Kuwaiti state news agency <a target=\"_blank\" href=\"https:\/\/www.kuna.net.kw\/ArticleDetails.aspx?id=3241757&language=ar#\" style=\"\" rel=\"noopener\">KUNA<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> Shell\u2019s two North East El Amriya concession gas fields \u2014 Mina West and Khufu \u2014 could add a combined <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a7352ec-4728-4d25-996c-f388b1e738c9\/egypt-to-start-manufacturing-faw-evs-in-less-than-a-year.-plus:-pharma,-commodities,-telecom-news\" style=\"\" rel=\"noopener\">2 tn cubic feet<\/a> of gas to the country\u2019s reserves.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">RENEWABLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Infinity partners with Cr\u00e9dit Agricole to finance solar home solutions:<\/strong> Our friends at renewables giant Infinity have partnered with Cr\u00e9dit Agricole Egypt to expand access to residential solar energy through a new financing program, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1468.pdf\" style=\"\" rel=\"noopener\">joint press release (pdf)<\/a>. Under the agreement, Infinity customers can now access a solar loan offered by Cr\u00e9dit Agricole with preferential interest rates and repayment terms of up to seven years. The loan covers a range of solar products \u2014 including home solar systems \u2014 and is designed to remove financial barriers for households for more affordable renewable energy transition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">NBFS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nice Deer w<\/strong><strong>as given the green light by the Financial Regulatory Authority to become the <\/strong><strong>country\u2019s first NBFI providing factoring services for deferred medical ins. claims<\/strong>, the local insurtech startup said in a statement. The platform seeks to convert delayed ins. receivables into immediate payments for medical service providers, helping address liquidity issues in the healthcare system.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- Swiss, French players eye therapeutic nutrition manufacturing in Egypt<\/p>\n","protected":false},"author":1,"featured_media":668917,"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":[7209],"tags":[111,205,72,334,181,125,91,83,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-668916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-credit-agricole","tag-enterpriseam","tag-infinity","tag-insurance","tag-investment-watch","tag-oil-and-gas","tag-real-estate","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"4d17c979-0c90-4d46-9042-83851f5d3b99","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/7\/1496.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A new Egyptian-Saudi EGP 70 bn real estate project","related_issue":[668895],"teaser":"PLUS- Swiss, French players eye therapeutic nutrition manufacturing in Egypt","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.1289249b-9e0c-433b-94e8-25ba9f3951db.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>A new Egyptian-Saudi EGP 70 bn real estate project - 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\/07\/23\/a-new-egyptian-saudi-egp-70-bn-real-estate-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A new Egyptian-Saudi EGP 70 bn real estate project\" 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partner with Egyptian companies on projects in Egypt and Saudi","rel":"","context":"In &quot;Real estate&quot;","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":[]},{"id":672071,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/18\/egyptian-saudi-consortium-mulls-usd-1-bn-downtown-cairo-redevelopment\/","url_meta":{"origin":668916,"position":1},"title":"Egyptian-Saudi consortium mulls USD 1 bn Downtown Cairo redevelopment","author":"enterpriseam admin","date":"18 September 2025","format":false,"excerpt":"The consortium includes Saudi\u2019s Sumou Holding and its subsidiary Adeer International and local players Midar and Hassan Allam","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment 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