{"id":672071,"date":"2025-09-18T00:00:00","date_gmt":"2025-09-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/18\/egyptian-saudi-consortium-mulls-usd-1-bn-downtown-cairo-redevelopment\/"},"modified":"2025-09-18T00:00:00","modified_gmt":"2025-09-18T00:00:00","slug":"egyptian-saudi-consortium-mulls-usd-1-bn-downtown-cairo-redevelopment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/18\/egyptian-saudi-consortium-mulls-usd-1-bn-downtown-cairo-redevelopment\/","title":{"rendered":"Egyptian-Saudi consortium mulls USD 1 bn Downtown Cairo redevelopment"},"content":{"rendered":"

An Egyptian-Saudi consortium is looking into setting up a USD 1 bn <\/strong>Downtown <\/strong>Cairo redevelopment project<\/strong>, Sumou Holding Chief Business Development Officer Ahmed Al Hashimi told Asharq Business<\/a>. The consortium includes Saudi\u2019s Sumou Holding<\/a>, its subsidiary Adeer International<\/a>, and local players Midar<\/a> and Hassan Allam.<\/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

BACKGROUND-<\/strong> The project would tie into the Sovereign Fund of Egypt\u2019s plans to offer up<\/a> the Ministries Square area and Downtown assets to investors as part of its privatization and redevelopment<\/a> push for the area. <\/p>\n

Not their first rodeo: <\/strong>The consortium is already working on hospitality and leisure projects along the Nile in Cairo and in Midar-developed new cities with investments of USD 2 bn<\/a>. Adeer has also partnered with local developer Paragon Developments<\/a> to launch<\/a> a new joint entity that will work with Midar on a EGP 70 bn mixed-use project in New Cairo\u2019s Mostakbal City.<\/p>\n

Sumou is going big on Egypt:<\/strong> The Saudi developer plans to inject SAR 2 bn (c. EGP 26 bn) into the local real estate market over the next five years, focusing on mixed-use developments with residential, hotel, office, and retail components, Al Hashimi told Al Arabiya<\/a>. The company will handle management and sales through a dedicated subsidiary. The Saudi developer aims to have Egypt account for around 5% of new investments by 2030. Sumou is also in discussions with Midar to launch its first real estate fund in Egypt<\/a>, expected to roll out in 1Q 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"

The consortium includes Saudi\u2019s Sumou Holding and its subsidiary Adeer International and local players Midar and Hassan Allam<\/p>\n","protected":false},"author":1,"featured_media":672072,"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":[7272],"tags":[130,72,125,83,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-672071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-construction","tag-enterpriseam","tag-investment-watch","tag-real-estate","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"189dff2c-8e85-49cf-a642-5f9d31a4bdc8","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/1082.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian-Saudi consortium mulls USD 1 bn Downtown Cairo redevelopment","related_issue":[672066],"teaser":"The consortium includes Saudi\u2019s Sumou Holding and its subsidiary Adeer International and local players Midar and Hassan Allam","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.f69b53e0-4dd7-47b9-97d6-1da125fd1e85.mp3"},"yoast_head":"\nEgyptian-Saudi consortium mulls USD 1 bn Downtown Cairo redevelopment - 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\/09\/18\/egyptian-saudi-consortium-mulls-usd-1-bn-downtown-cairo-redevelopment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egyptian-Saudi consortium mulls USD 1 bn Downtown Cairo redevelopment\" \/>\n<meta property=\"og:description\" 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years","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1709.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":659328,"url":"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\/","url_meta":{"origin":672071,"position":1},"title":"Hassan Allam Properties, Midar partner with Saudi\u2019s Sumou for Cairo hotel and entertainment projects totalling USD 2 bn","author":"enterpriseam admin","date":"26 January 2025","format":false,"excerpt":"The investment targets hospitality and leisure projects","rel":"","context":"In \"EnterpriseAM\"","block_context":{"text":"EnterpriseAM","link":"https:\/\/enterpriseam.com\/egypt\/tag\/enterpriseam\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1764.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":654176,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/29\/ksas-adeer-wants-to-set-up-a-real-estate-fund-in-egypt\/","url_meta":{"origin":672071,"position":2},"title":"KSA\u2019s Adeer wants to set up a real estate fund in Egypt","author":"enterpriseam admin","date":"29 October 2024","format":false,"excerpt":"The fund will invest in residential, commercial, and administrative units","rel":"","context":"In "Capital markets"","block_context":{"text":"Capital 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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":632007,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/09\/adeer-to-set-up-mixed-use-development-in-east-cairo-alongside-paragon\/","url_meta":{"origin":672071,"position":4},"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":[]},{"id":631962,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/08\/azimut-one-step-closer-to-launching-shariah-compliant-fund-after-getting-fra-approval-plus-neom-lrt-adeer-hassan-allam-properties-melee-development\/","url_meta":{"origin":672071,"position":5},"title":"Azimut one step closer to launching shariah-compliant fund after getting FRA approval. PLUS: Neom, LRT, Adeer + Hassan Allam Properties + Melee Development","author":"enterpriseam admin","date":"8 July 2024","format":false,"excerpt":"The fund will invest in stocks listed on the EGX\u2019s newly-launched shariah-compliant EGX33","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\/6\/1115.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\/672071","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=672071"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/672071\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/672066"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/672072"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=672071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=672071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=672071"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=672071"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=672071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}